4 Factors You Didn’t Know Impact Your Credit Score

Impact Your Credit Score

Every financial decision you make has a positive or negative impact on your credit score. Your credit score takes a hit every time you use a credit card in an unassuming way or make a financial inquiry of some sort. If your credit score gets too low, you may find it difficult to get a mortgage or make any other important financial decision, and will probably need credit restoration services to undo the damage. This blog discusses some of the actions that may bring down your credit score, even if you don’t apply or receive credit.

1. Unpaid Tickets and Taxes

Municipal debts such as parking tickets, City taxes take a toll on your credit report. It is not just the banks, credit unions and other creditors who report unpaid bills to the credit bureaus. If your municipal debts get out of hand, the city may report them too and this will take a toll on your credit score.

2. Improper Membership Cancellations

If you are a member of a local grocery store, you need to follow the proper cancellation process while closing any of those accounts. If your gym reports a non-payment on your part to a credit bureau, that could get in the way of a good credit score. Likewise, you need to follow a proper cancellation procedure for all financial accounts, including store memberships.

3. Overusing Business Credit Cards

Many companies allow people to access company cards for official use, but the authorized person usually needs to provide a personal guarantee that they will use the account judicially and only when required. If you possess such a right to use the business card of your company, ensure that you use it wisely, or it may affect your credit score negatively.

4. Car Rentals

Car rentals are pretty harmless, right? You pay upfront along with a security deposit, so there’s no chance of a delayed payment that could have an impact on your credit score. Well, that’s not entirely true. When you pay for a rental car (including security deposit), through a debit card, the rental company is likely to make an inquiry on your credit situation. It is considered a hard inquiry and has a negative impact on your credit score.


Not paying your parking ticket or not cancelling your gym membership may not seem a great deal, but if you miss these payments regularly, it may lower your credit score drastically. It is advisable to avoid making these mistakes to retain a good credit score. Individuals often have doubts related to credit scores, and the experts at Repair My Credit Now are here to offer a non-obligation consultation. You may reach us via phone or drop us an email, and we will try to resolve it as soon as possible.