Credit Score Falling? Common Mistakes & How to Boost It

• High credit utilisation (over 30% of available credit) can lower scores, even with timely minimum payments.
• Late payments, even by a few days, leave a negative mark on your credit history for months or years.
• Multiple loan applications within a short period trigger hard inquiries, signaling financial urgency and potentially reducing your score.
• Closing old credit accounts can decrease total available credit and shorten your credit history, negatively impacting your score.
• Errors or discrepancies on your credit report, such as data mismatches or unclosed loans, can also cause an unexpected score decline.

Why It Matters: It reveals hidden reasons for credit score drops, empowering better financial control.