What Can You Do To Protect Your Credit Score?

Real Estate Agent with Keller Williams Realty of Brevard

What Can You Do To Protect Your Credit Score?

Your CREDIT is a big part of your financial health. It is identified by your CREDIT SCORE. Your credit score indicates how you use money over time. How much of a risk it is to loan you money? Are you responsible or irresponsible with money? If your credit is good it can help you to borrow money at a lower interest rate for long and short term loans. If not it can hurt your future ability to borrow money. So you have to maintain a good credit score before you want to make a big purchase like a home or a car.

A low credit score can also negatively affect you in other areas of life. When renting a home or an apartment; landlords or property management companies routinely check the credit score to see if the prospect is a responsible tenant and is willing and able to pay the rent on time.  

What can you do to protect your credit score?

1) Your Payment History

How good are you about making payments on all your current bills and balances? Always consistently pay your bills on time as accounts in collection are a big negative for credit score. If you cannot pay your credit card balance in full, be sure to make the minimum payment on time. Late and missed payments cost more in the long run, as you can be charged a higher interest rate for credit, later on. Setting up automatic payments for fixed expenses is an easy way to avoid missed or late payments.

2) Balance You Owe

How much credit do you have available? One of the factors that determines your credit score is the amount of credit you have available. The debt to credit ratio should be as low as possible so it is a good idea to keep the overall debt lower than the total credit available. Try to reduce your balances by paying a little more each time than just the minimum payment. Be careful about closing unused credit card accounts. This can also be viewed negatively in determining your credit score as the less credit you have available the lower the credit score.

3) Your Credit History

How long have you been borrowing and managing money? The account age is also important. It is not a good idea to close old credit card accounts which show you have been making payments on time as those accounts are a part of your credit history.

4) Newly Opened Accounts

What have you been up to lately? Be careful about opening up a bunch of credit cards in a short period of time. The credit reporting agencies view you as a high risk when you apply for too much credit in a short period of time. Think about that every time a department clerk asks if you want to apply for a department store credit card.

5) Annualcreditreport.com

Have you checked your credit report recently? Check your credit report at Annualcreditreport.com. At this site, once every year you can get a free credit report from each of the three credit bureaus, Experian, Transunion and Equifax. Check the report for accuracy and also make sure you are aware of all existing open accounts.

Don’t risk your financial health. Having a good credit score should be an ongoing priority. Now doesn’t that just make good sense?


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Serving Suntree, Viera, Rockledge, Cape Canaveral, Merritt Island, West Melbourne, Melbourne, Cocoa, Cocoa Beach, Satellite Beach, Indian Harbour Beach, Indialantic, Melbourne Beach, Palm Bay, Sebastian


About the Author...This article was provided by, Rekha Vyas a Nationally recognized Realtor, Certified Residential Specialist and Graduate of the Realtor Institute. Rekha can be reached via e-mail at RekhaVyas1@gmail.com by cell phone or text message at 321-759-4409. Rekha has helped many people buy and sell their home.  For real estate and homes on the Space Coast of Florida see www.RekhaVyasRealtor.com. If you need to Short Sale your Brevard county home please contact me for more information.



Comments (5)

Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Rekha, yes, these are good tips - and at times, it is very handy for some buyers.

Jan 29, 2014 02:42 PM
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Thanks, Praful.

Jan 29, 2014 03:09 PM
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK


Great information.  Everyone needs to protect their credit scores.

Feb 03, 2014 10:02 AM
Rekha Vyas
Keller Williams Realty of Brevard - Melbourne, FL

Judi, People need to be smart about protecting their credit score. At times people do things in ignorance or carelessness that ultimately affects their credit score negatively.

Feb 03, 2014 10:25 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

I agree, having a good credit score should be an ongoing priority.

Feb 05, 2014 04:29 AM