8 Reasons Your Credit Score Declined

MoneyTips

What happened to your credit score? It's dropped considerably since the last time you checked, and you have no idea why.

Maybe one or more of these events is behind the decrease.

1. Missing Payments – On-time payments is one of the biggest factors that make up your credit score.

Make all credit card and loan payments by the due date to avoid a credit score hit. Verify that automatic payments are working, and if a change is made, verify with your creditor that you won't miss a payment during the transition.

2. Using Too Much Of Your Credit – Your credit limit is just that – a limit, not a target. When you get close to your credit limits, creditors see increased risk. Are you racking up more charges than you can pay off given your regular expenses?

Keep your total credit in use at any one time (your

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