4 Things That Doesn’t Hurt Your Credit Score

Considering how powerful your credit score is, and the important role it plays in your life, we’re sure you’re implementing a lot more measures to protect it and keep it as high as can be.

Just because there are a lot of factors that impact your score negatively, there are also many that don’t have an effect at all, and this might just come as a shock to you.

Since your credit score is based on factors such as paying your bills on time, your credit cards, as well as your loans, there are some financial transactions that have no effect on your credit score whatsoever.

So, what exactly don’t you have to worry about when it comes to your credit score?

4 Things that won’t hurt your credit score

#1 Your Income

Even though information about your employment and your employer might be listed on your credit report, your income is something that won’t be allowed for review.

When you apply for a loan or credit, your income will, however, be reviewed.

When it comes to depicting your credit score, it doesn’t really matter whether your income gets reviewed, as it can’t directly impact your score anyway.

Just because you have an above average salary, for instance, does not mean you’ll have a higher credit score.

#2 Insurance Payments

Insurance companies generally check your credit score to decide whether you qualify to be insured, as well as to calculate the total amount you qualify for.

Your credit score will be reviewed to conclude decisions about you. Insurance payments, however, won’t affect your credit score. For instance, if you’re late with payments, it won’t affect your score.

#3 Bank Overdrafts

Whether you have one overdraft, occasionally, or multiple within a few days, it won’t influence your credit score. That is, only if you clear it up before they result to collections. If your bank account is overdrawn for a few weeks, your bank will forward your account to a collection agency, which is something you want to avoid.

#4 Utility and Phone Payments

Although utility and cell phone providers might check your credit score before giving you a contract or extend their services, they won’t provide any payment information to the credit bureau. Timely utility and cell phone payments thus won’t influence your score.

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