Multiplying lines of credit

Opening one new card is normal. Opening three in a short amount of time could signal something bad is going on in your financial life

A housing short sale

People are told short sales won’t hurt their credit, But there is no such thing as a ‘short sale’ in terms of how the sale is reported

The way the account is closed out is that it is settled for a lesser amount than you agreed to pay originally. The status is ‘settled.’ And it’s just as negative as a foreclosure

Someone else’s debt

When you co-sign on the dotted line to help someone else get a loan or a card that entire debt goes on your credit report. As far as lenders are concerned, you’re carrying that debt yourself

Minimum payments

While creditors make money when you carry a balance, lenders who view your credit report don’t like to see you paying just the minimums every month. It suggests you’re under financial stress. Paying minimums once in a while doesn’t necessarily signal a problem

A lot of inquiries

Every time you allow a potential lender to pull your credit report, you risk generating a inquiry on your credit report. The exact impact of this inquiry varies by the consumer, the score and the number of inquiries. Multiple inquiries may not make or break everyone’s credit scores; however lenders will wonder if a lot of inquiries in a short amount of time means you’re scrambling to find credit before something bad happens