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Credit Score

Surprising Ways That Can Work Against You and Your Credit

April 13, 2016

There’s a pattern of reasons that cause bad credit card rating. It starts with reasons like ‘I only have one credit card, and I use it for everything’. You may have heard the second one too – ‘I didn’t know that was on my credit report’. Also, this one – ‘I pay collection items first.’

With this said, you already know what bad credit is all about. You also thought about how something big must have happened for your credit score to be bad enough to not let you lend a loan on your desired terms.

It’s not the case that you do not ever get a loan with bad credit – you can get it at comparatively higher interest ratesat any time. Also, you can get a Fix Bad Credit Australia, and lend your desired loan.

At the same time, you might not be aware of the reasons your credit score was stained. Down here, there are some surprising ways you must have never thought of working against you and your credit score. Read on to know them.

#1 Early Cancellation of Your Gym Membership the Wrong Way

Many people sign up their gym memberships and never really see the fine print and the policy for cancellation. But of course, one feels surprised when bad credit says hello once you suddenly cancel your contract. Some (if not all) gyms do generally report your cancellation as a non-payment to the credit bureaus.

#2 Have You Returned Your Library Books?

No matter how surprised you feel, this has happened to many. You didn’t return the books and got a fine to pay instead? Just pay it. Of course, it’s a very less amount, but in case the library needs the money back, get ready for them to hire a collection agency.

#3 Think About Your Medical Bills Too

Unpaid medical bills is another surprising reason that can cause bad credit rating. You might not have to pay the cost for calling out the ambulance in an emergency when you get out of paying it because of the insurance or concession details. But when you know that you’re bound to pay it, just pay it off. Else, the sum is supposed to be given to the collection agency. This brings guaranteed bad credit.

Do you have any other surprising ways that got you a bad credit rating? You know if you want to Fix Bad Credit Australia, you’ve just landed on the right place.

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