Things that won’t hurt your credit score

Keeping your credit score viable

08:42 02 February 2014

The things we do deliberately or unwittingly affect our life – some things in a major way more than the others. In the financial aspect, what could affect credit ratings is a great concern for most.  However, there are events happening in our life that might have a financial bearing to the individual personally, but which will not necessarily affect their credit score, such as job loss.  But if you think relying solely on the use of your debit card will strengthen you credit score, think again.

 

The things listed below will not negatively affect your credit score:

 

Non-approval

Applying for credit leads to a number of inquiries regarding your financial status and this may cause credit scores to drop a bit.  However, approval or non-approval of your credit application will not reduce your credit score.  Still, it is not a good idea to grab every opportunity to apply for credit, most especially if you know you will not meet the criteria.  It will be good to know though why you were disapproved and you should request for a free copy of the credit score and credit report for future reference.

 

Marriage

Getting married to an individual whose credit score is not so very good and has some financial problems as well will not have an effect on your credit score.  However, if you apply for a joint credit in the future, that is where the problem may crop up because your spouse’s low credit rating can affect your credit score and end up dealing with a rejection.  

 

Additionally, now that you are legally together and living in a conjugal property, if your spouse is having some problems with payment defaults on an account, the collection agency can also run after you or both of you, making you also responsible as well for his/her debts even if you had nothing to do with the account.  If this happens, your credit score will be affected negatively.