Common Mistakes
One of the biggest mistakes people make when it comes to their credit score and insurance impact is not monitoring their credit report regularly. It's crucial to check for any errors or suspicious activity that could be dragging down your score. I've seen people get denied coverage or pay higher premiums because of inaccurate information on their report.
How to Avoid Them
When you use the Credit Score Insurance Impact, another common misstep is maxing out credit cards or carrying high balances. Lenders view this as a sign of financial instability, even if you make your payments on time. It's best to keep your credit utilization ratio below 30% to maintain a healthy score.
