1. Bad Credit History. A late or missed payment can seriously affectyour credit score. The credit card companies need not file a complaint to lessen your credit scores. A late payment, even by a few days, can cause your credit score to slump. CCJs can cause your credit score to drop more. All payments should be paid in full and on time to maintain high credit score.


2. Changing Addresses. Credit companies prefer that you do not frequently move. Though the effect of changing address is not high, it can be the reason between being approved for a low interest rate loan versus a high interest rate loan, thus not moving around continuously is a good way to keep your credit score in check.


3. Employment Status. Creditors want to see two things: that you have a job and that you have been gamefully employed consistently. Quitting your job can affect your credit score, as can leaving your job for another one. For people who work from home as consultants or individuals that are attempting to start their own business, credit drop can be really disadvantageous, so keeping other aspects of credit high is a requirement.


4. Bank Accounts. Lenders and credit companies want to know that you have some money. They do not always care how much, but knowing that you have a bank account gives them the assurance that you will use it.


5. Too Many Credit Applications. Applying for credit is promptly recorded in your credit file. When you are constantly signing up for new credit cards, no matter what your balance is on the cards you already have, you will lose points in your credit score. Keeping a credit card or two and not getting too tempted to sign up for another is advantageous.


6. Excessive debt. Unwarranted debt in school loans, home loans, and credit card bills negatively affect your credit. The more you owe, though you pay it off promptly, the worse your credit is. Keeping your debts low is important when you want to take another loan in the future.


7. Bankruptcy. The most crucial credit killer. Depending on the amount of debt you had when you went bankrupt and your credit score at the time, bankruptcy might not make you recover from it again.

Try to avoid credit killers to keep your credit score high and qualify for loans you need. It may seem difficult at times to budget for all of the payments to keep your debts low, but keeping them low can be the difference between owning a home and being cast off.

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