Abusing Your Cards - Good Rating to Bad

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. 

Leave a Reply