Have you ever had one of those months where everything seems to pile up and you just can't make ends meet? You take a look at what you owe, who you owe it to, and finally decide that the credit card payment is going to have to wait until the next check. Not even that, lets cay you just forget to make your credit card payment on time. This is the first and most common mistake: missing payments or making late payments. If you know it or not every time you make a payment to any of your lenders, they report what amount you have paid, and whether you were on time or late. If your late basically consider it much like getting a test question wrong, your credit score drops. In addition, they will report how late you were, and your record of "lateness" will be represented on your report. Now you want to get a loan for a new car and the dealer pulls your credit report and your credit score shows you were late X amount of times last year. Put yourself in his shoes. If you lend your buddy $20 and he pays you back immediately you will lend him money again but if you have been waiting for that $20 for over a year next time he asks you're not going to be as keen on it are you? If it's clear that you have a habitual pattern of paying your bills late, they will think twice about lending you money.

Second, this is another one people never consider will hurt their credit report and I know when you read this you will realize you are guilty of it.

Lastly is another tip to look out for that I am sure most people don't really think about and that's leaving credit cards on your credit report. I know it's the opposite of what you have been taught but let's think about it. If you have a credit card on your credit report that has been paid on time every time it's a star on your credit report. Removing it would dock your score believe it or not. Of course credit scores favor accounts that are active so try and keep charging small items and paying them off regularly to maintain this benefit on your credit score and you'll be surprised how quickly your credit score will increase.
About the Author

Jason Jell is an expert on credit, loans, and debt management and maintains a website (http://www.internetcreditcardlist.com) geared towards showing others how to find the best credit card offers no matter what their financial situation.

http://www.internetcreditcardlist.com