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Credit Repair Specialist Alex Miller Lists 5 Habits That Harm Your Credit Score

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Financial stability surpasses all riches. A credit card ensures you have that privilege; your credit score merely builds or breaks it. “People seldom understand how crucial it is to maintain your credit score. The score guarantees your monetary independence,” asserts Credit Repair Specialist Alex Miller. He is the founder and CEO of Alex Miller Credit Repair. At his company, he and his team have, so far, helped over 2000 people boost their credit scores. Alex, with his team, utilizes the “3 Round Burst Strategy” when helping their clients raise their credit score.

“Many people experience a negative credit score and hardly realize their report could be fallacious,” states Credit Repair Guru Alex. He lists 5 habits that damage your credit score.

Payment History

“Your lenders should be able to trust you. Any step that makes them doubt your ability to make timely payments can ruin your credit score,” informs Alex. Your payment history establishes a pattern of your scheduled payments, your debts, your late charges, and so on. If you are unable to clear all settlements, your credit score will go down.

Credit Utilization

The amount you owe on your credit card accounts for 30% of the FICO score. How well you utilize the credit limits given to you secures quality investments. The sizable loans, however, can impact the allotment of loans in the future. “People are often unaware and tend to go overboard with expenditure,” says Alex.

Credit History

When it comes to the duration, the longer the better. Your old accounts linked to your card should ideally be left open. This adds to your credit score. Your payments and investments over the years will actually add weight. If you own a credit card that is recent, ensure paying all installments on time.

Credit Mix

A mundane portfolio of investments ensures a dull credit score. You could have a home loan, student loan, mortgages, multiple credit cards, etc. A mix usually helps the lenders bank on a credible investment.

Loan Default

This is one of the blunders that massively affect the credit score. You should try avoiding situations that lead to skipping loan payments. “When you miss a payment, ideally, you failed to live up to your side of the contract,” says Alex. Regularity in such behavior can damage your credit score no matter how old.

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