Are your stress levels off the charts? Can’t sleep at night? Experiencing premature graying? Chances are you just did a thorough analysis of your credit score.

According to a survey, around 49% of Americans are extremely worried about their financial stability. Having difficulty with your finances is a common problem, but some people make their situation worse by adopting bad credit habits.

Bad Habit#1: Neglecting your credit card bill

You intentionally neglect your credit card bill when you’ve treated yourself with an expensive pair of shoes or went out on a crazy shopping spree.

You receive a pile of bills every month but reading each and every one seems like an unnecessary ordeal. Evaluating your bills can help you spot transaction errors or wrongful deductions on your credit card. So, read and tally your credit card statement for the next month.

Bad Habit#2: Random purchase

Every time the billing machine goes ‘ding’ you drown deeper into loans and bad credit scores.

Check your balance and credit limit before each purchase. The bank might have lowered your limit or charged you with an additional fee.

Keeping a check on your finances will make you a conscious buyer and save you from a poor credit history.

Bad Habit#3: Overusing credit card

Debit cards provide you more control over your expenditure and limit you from exceeding a certain amount. Limit the use of your credit card for availing discounts, repayments, or point collection. A debit card is like your wallet you can spend only what you have, therefore, opt for debit card payments when buying groceries, gas, or clothes.

Bad Habit #4: Keeping it low

When it comes to repayment of debt, people opt to pay the minimum amount per month. This means you keep building up your interest rate. Therefore, construct a strong repayment plan and avoid paying high finance charges in lieu of minimum repayment amount.

Bad Habit#5: Lay payments

Late repayments raise many red flags in eyes of the debtors and have a detrimental impact on your credit score. Schedule your monthly repayments beforehand or get in touch with a credit building services to do the job for you.

Bad Habit#6: Credit cash

Using your credit card to get cash is the biggest and most expensive mistake you can make. The bank starts charging you interest from the moment you loan the amount and the interest rate applied to this loan is extremely high. Needless to say, DON’T uses your card as an easy source of cash.

Bad Habit#7: Keeping multiple credit cards

In search of low-interest rate scheme, you might end up having multiple credit cards that you don’t even use. With every new promotion signup, your credit score decreases. Moreover, with a variety of credit card at your disposal, your chances of falling into debt considerably increases.

With help of our financial experts, we at KeyPoint can provide you a quick credit repair. We use a personal progress dashboard to review your financial health and provide tactical solutions.