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Many humans know ways to increase their credit score, but what factors actually lower your credit score?

1) Accounts that have been open less than three years. Having distant term credit accounts that you consistently pay on day is an vital indicator of stability. As your credit history ages, your score should increase.

2) Anytime your credit report is pulled. that is whether you apply for a loan and the lender requests a copy of your report, or you order a copy of your credit report yourself directly from the credit bureau. that is when an inquiry is added to your report. Hard inquires are poor, soft inquiries are ok. Hard inquired are from creditors and lenders with whom you have applied

for credit or a loan. A Soft Inquiry is when you demand your own copy of your report or when an employer checks your credit history. Lenders and creditors do not see these inquiries. Inquiries remain on your report for up to 2 years.

3) An explanation that goes unpaid or becomes delinquent.

4) Bankruptcy.

5) Closing old accounts. Having old accounts open, even whether they are not used regularly, is good for your credit score.

6) Constantly using too high of a percentage of your credit line. For example, it is good to stay under the 30% mark for the amount of credit your have used in your credit line.

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