When considering your financial future, your credit score can make or break you. It’s important to avoid these common mistakes that will hurt your credit score.

Carrying a Large Balance
Keeping a big balance on your credit cards will affect one of the credit ratios used to calculate your credit score even if you pay off your balance each month. Experts recommend that you use less than a third of your credit limit on each card.

Closing Credit Cards
It seems counterintuitive, but closing a credit card account can actually hurt your overall credit score because it lowers the amount of credit available to you. The length of your credit history is also factored into your score, so closing a card will affect that. Instead, leave the card open and charge something small on it. Pay off the balance in full each month.

Late Payments and Defaulting
Lenders consider late payments and defaulting on a loan or credit card to be the biggest strikes against someone who wants to borrow. One or two late payments aren’t going to hurt you, but a pattern of late payments will. The same holds true with defaulting on loans.

If your credit score is low, and you find yourself drowning in bills, our expert Kansas City bankruptcy attorneys can help you get a fresh start. Castle Law Office has been handling bankruptcies for Kansas City clients from more than 14 years. Call us today at 816-842-6200 to speak with an attorney. Or you can email us and schedule your free consultation.


Jason C. Amerine
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President and Owner, Castle Law Office of Kansas City