Late payments result in penalties and damage your credit history. Set auto-reminders or auto-pay.
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A credit card can be valuable in building credit profile, managing cash flow, earning rewards; however, common mistakes such as overspending can turn into a financial burden.
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Common factors that could damage your credit score are negative items, such as bankruptcies, foreclosures, late payments, high credit utilization, and credit inquiries from potential lenders.
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A credit report documents your credit history, your current status of accounts and payments, and when companies have pulled your report when you've applied for credit. A credit report is the source of your credit score.
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