This page links to all of the Articles in the Blog. Credit Basics What is Credit? What is difference between your Credit Report, Fico Score, and your Credit Karma Score? Why is your Credit Score Important? How are Credit Scores Calculated? Where to get your Credit Report/Score for Free Why are Credit Cards Important? Debit Card Advantages and Disadvantages Debit Card Debacle Debit Card Fees The Credit Card Minimum Payment Trap Student Loans and Debt Building Credit Building Credit with No Credit History What is a Secured Credit Card? Secure Credit card Special Note What is a Credit Builder Loan? What is an Authorized User? How do Airline Miles work? How to choose a Bank or Credit Union Managing your Credit No Grace Period or Float for You Managing your Credit Cards with Auto pay Credit Card Cash Advances Zero Percent Credit Card Offers The Tenth/Twenty-fifth Credit Card Game OOPS I missed a Payment How the Minimum Credit Card Payment will Break You Credit Card Statement Dates Neve
The most common reasons for a credit score drop is a missed payment, a new line of credit, a credit card removed, or an increased use of your credit. A missed payment will have a significant and lasting effect on your credit score. I had an 810 credit score and I missed a payment on my Lowes card. I did not realize I had a bill with them. The bill was under $50. I realized I had not made the payment when it showed up as a negative on my Credit Karma credit score. It dropped my well aged with over 800 credit score by over 90 points. Check this article on how I was able to get the Lowes negative removed.???** A new line of credit like a new credit card will lower your credit score. Depending on how much credit history you have, a new line of credit will lower your score by ten to thirty points. Increasing your debt with a major purchase on your credit card or a new car loan, will also lower your credit score. A friend of mine with an 800+ credit score recently got a cash adv