Sentences with phrase «decrease in your credit score due»

Taking out new credit, even if it's used to consolidate debt, usually results in a small decrease in your credit score due to the hard inquiry required to obtain the credit.

Taking out new credit, even if it's used to consolidate debt, usually results in a small decrease in your credit score due to the hard inquiry required to obtain the credit.

Not exact matches

Carrying any balance from one month to the next can actually decrease your credit score, due to increased credit utilization, so it's best practice to always pay your balance in full.

Consequences might include: (1) a constantly increasing debt burden (as interest accrues and due to high collection agency costs), (2) a decreasing credit score (making it difficult to borrow money in the future), and (3) default... which can lead to... (4) garnished wages (up to 15 % of disposable income), (5) withholding of your tax refunds... the list goes on and on.