10 Easy Steps to Ruin Your Credit Score

Before you read any further DO NOT DO ANY OF THESE THINGS

This guide is written as a roadmap of what not to do if you want to build, maintain or increase your credit score.

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Continually ask for a credit limit increase, potentially dropping your score by as much as 10 points per inquiry.
Borrow using your cards cash advance feature, which will cost you interest charges of 30% yearly, instead of the normal purchase rate of 15%-25%.
If you don’t have enough money, apply for multiple new cards and max them out as soon as you are approved.
Make sure your borrowing is as close to your credit limit as possible, causing your score to gradually decrease over time.
Apply for new cards as often as possible, called a hard inquiry, lowering your score by 5-10 points for each new card.
Borrow more money than you can pay back in 3 months, leaving a black mark on your credit record for 7 years and dropping your score by 25% or more.
Transfer debt from one card charging you a normal interest rate to one where you will be charged a penalty rate as high as 30% for not paying at least the minimum balance every month.
Borrow more with your card than you can afford to pay back in 30 days, triggering interest charges.
Filing for personal bankruptcy just to screw someone you owe money to, making it impossible for you to borrow money for at least the next two years.
Fail to pay your rent on time even though you have the cash to do so. New scoring models include rent payment history.

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