When does your credit hurt? Whenever you apply for any form of credit or whenever you are denied credit, you may hear in your head that you will not be able to get any type of credit in the future. In some cases this can be true, and in others it may not be but you should not let this stop you from building your credit score. The fact of the matter is that every day your credit report is being pulled. Every time you apply for a job, loan, mortgage, or use your credit card you will be checked for your credit score.
If you have good credit history and an excellent credit rating then you will most likely be able to qualify for a lot of different types of credit. When your credit score falls below the ideal level though and you do not have many accounts open, lenders will check your credit report very closely. If you have missed credit card payments in the past couple of months then you may very well find that your credit report will be hit with a negative item. This means that lenders will see that you are not consistent with payments and that you have other accounts that you have been missing payments on. When lenders pull your credit report they will see these other accounts and the negative mark on your report will prevent you from getting any type of credit at all for at least six months.
You can fight this type of negative marking on your credit report. This is where the process gets a little difficult for you though. The first thing that you need to realize is that when lenders pull your credit report, they do not check it with the three major credit bureaus. They only check with the one that you have provided them with. This means that if the negative mark on your report is due to an unpaid account then you need to contact the credit reporting agency and let them know that you have paid that account off.
With just a little bit of effort on your part you should be able to get that account marked off of your report. This means that when doing your credit hurt? When you miss payments on bills or when you are late on making payments on those bills. It is this kind of action that can have a negative impact on your credit score, which is why you need to keep your credit report updated at all times.
If you are interested in how your credit score is affected by this particular event, then you may want to start by getting a free copy of your credit report. There are many places online that you can access your report for no charge. This will give you a good idea of what the score is and it will also tell you whether or not other negative events have had an impact on your credit score as well.
With your credit score being influenced by several events, it is important that you work to keep everything in order at all times. Pay your bills on time and if possible, pay off loans and other debts. You should not let your credit limit goes to waste because if you do you could end up with a very low credit score. Work to keep your credit score healthy by always making payments on time and you should be able to enjoy many years of having a good credit score.