By Larry Goldberg
 
Transforming your good credit rating into a bad one is really not that difficult to do, especially if you have been abusing your credit card.  Credit card abuse can happen when you find yourself relying on your card for nearly all your purchases, have trouble paying more than your minimum balance each month, or have accumulated so much debt that you feel overwhelmed.  If any of these ring true with your spending habits or financial situation, then you may be unknowingly abusing your credit card.

Credit card abuse is a dangerous thing, and it can make your credit report look less-than-ideal to potential credit card companies or lenders.  Because your credit report contains all the information regarding your accounts’ histories and transactions, any negative activity will also be listed.  This is not what you want, as it will likely give lenders the impression that you are not handling your credit accounts responsibly.  Don’t fall into the credit card abuse trap – be careful about how you use your cards and handle your payments.  The impacts to your credit report can be lasting and severe. 

LetsGetCredit.com has more about info about credit card abuse and how it can affect your credit report.

By Larry Goldberg

Transforming your good credit rating into a bad one is really not that difficult to do, especially if you have been abusing your credit card.  Credit card abuse can happen when you find yourself relying on your card for nearly all your purchases, have trouble paying more than your minimum balance each month, or have accumulated so much debt that you feel overwhelmed.   

If any of these ring true with your spending habits or financial situation, then you may be unknowingly abusing your credit card.

Credit card abuse is a dangerous thing, and it can make your credit report look less-than-ideal to potential credit card companies or lenders. 

Because your credit report contains all the information regarding your accounts’ histories and transactions, any negative activity will also be listed. 

This is not what you want, as it will likely give lenders the impression that you are not handling your credit accounts responsibly. 

Don’t fall into the credit card abuse trap – be careful about how you use your cards and handle your payments.  The impacts to your credit report can be lasting and severe. 

By Larry Goldberg 

Just how important is your credit score, you may ask?  Well, it is very, very important.  Your credit score is the main thing that will either allow or deny you to get a credit card, a new set of wheels, or even a home or apartment.  If your credit score is not so great, it can have a big impact on your life, both now and in the future.

 Your credit score is determined by several things, including your payment history on any previous accounts, your current debt and how it stacks up against your available credit, the types of credit accounts you have, how long your credit has been established, and any recent credit applications you may have filled out.  All of these things will contribute to that all-important three digit number, so it’s a good idea to make wise decisions regarding any current and potential accounts.  Having a low credit score can mean the difference between getting the things you need and want or living without them.
 
Choose wisely when making financial decisions that will affect your credit report, and find out what your credit rating means for you.  Click here to access your FREE credit report to determine your credit score.