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Three Surprising Ways You Might Harm Your Credit

Posted on May 6, 2006 by Tom Fragala

A News Letter from Identity Guard has three ideas about how you might be hurting your credit score.

  1. Ignoring the pile of unpaid medical bills, parking tickets – and library books
  2. Settling accounts for less than you owe
  3. Closing accounts

For me the big one is #3. Lots of people think that closing accounts, like unused credit cards, is always a great way to increase your credit score. Often that’s not true. On the other hand, lots of unused credit cards can be a bad idea from an ID theft standpoint—these are accounts that someone can compromise, especially if you aren’t watching them closely.



Filed under: Credit

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