My Credit Report

My credit report came as a shocking disappointment. I realized that in order to apply for a mortgage I had to earn a decent income and have a history of timely payments. Both of these items I felt were up to par with industry standard.

Unfortunately what I did not expect was the endless pages of open accounts and inquiries I had made into my credit. Each time I agreed to open a retail store credit card I had hurt my credit. Looking back, the ten percent I saved on my purchase wasn't worth the damage to my credit report. If only I had known the repercussions of these decisions.

My Credit Report and Past Experience

When putting this site together I thought it important to share with readers how easy it is to hurt your credit. After stating the obvious such as paying your bills on time and maintaining low credit card balances, I wanted to explain the other actions which can be damaging to credit history.

While having some inquiries into your account can have a positive effect and keep you up to date on your credit standing, an abundance of activity can prove damaging. In addition, keeping accounts open that I no longer use has dropped my score significantly. I never understood the penalty of potential debt. I hope that if you take anything away from this site it is how to maintain your credit effectively.