Just when you think you've got the calculation of credit scores figured out... you discover that credit companies can actually hurt your credit score – and it's not what you are probably thinking. Of course, if you don't make your payments on time, a creditor can report you as 30, 60, 90 or 180 days late which will eventually decrease your FICO score, particularly if you make a habit of making payments late. But creditors can also decrease your credit score through no fault of your own. [ READ MORE ] Just about everyone understands if you pay your bills late or skip a payment all together, your credit score is going to be lower than someone who always pays everything before it's due. There are some other financial mistakes that may not be as well known, but that will also cause a lower credit score. When talking about your financial situation, what you don't know really can hurt you – here are 3 financial mistakes you need to avoid: [ READ MORE ] Some people will tell you there are three little words that can completely change their world. While “I love you” may be the most emotional phrase in the English language that will cause people to do things they wouldn't do otherwise; there is a three digit number that contains amazing power over our lives. [ READ MORE ] There are three major credit reporting agencies within the United States: Equifax, TransUnion and Experian. These are the organizations that lenders go through to verify potential borrowers credit worthiness. Federal Law indicates that individuals are able to receive one copy of their credit report from each of the three agencies annually, and at no charge. It’s a good idea to look it over once a year to make sure there are no errors or omissions. [ READ MORE ] MORE CREDIT SCORE GUIDE ARTICLES