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📘

Step 6 in Your Credit Score Power Series

You’ve cleaned up your credit report. You’ve lowered your utilization. You’ve started building positive history. Now it’s time to protect your progress.

Before you apply for a loan—whether it’s for business, real estate, or restoration—there are a few credit mistakes that can quietly sabotage your chances. Even one misstep can mean higher interest rates, lower loan amounts, or a flat-out denial.

Here’s how to avoid the most common credit score killers and keep your profile funding-ready.

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🚫 Mistake #1: Applying for New Credit Too Soon

Every time you apply for a new credit card or loan, it triggers a hard inquiry. Too many inquiries in a short time can lower your score and make lenders nervous.

What to do instead:

• Avoid new applications for 30–60 days before applying for funding
• Use pre-qualification tools that don’t affect your score
• Focus on improving existing accounts

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🚫 Mistake #2: Missing a Payment—Even Once

Your payment history makes up 35% of your credit score. A single missed payment can drop your score by 50–100 points and stay on your report for up to 7 years.

How to prevent it:

• Set up autopay for all credit accounts
• Use calendar reminders or budgeting apps
• Prioritize minimum payments—even if cash is tight

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🚫 Mistake #3: Maxing Out Your Credit Cards

High balances—even if paid on time—can hurt your score. Lenders see maxed-out cards as a sign of financial stress.

Fix it fast:

• Keep utilization below 30% (under 10% is ideal)
• Pay down balances before your statement date
• Request credit limit increases without adding new debt

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🚫 Mistake #4: Closing Old Accounts

Closing a credit card reduces your available credit and shortens your credit history—both of which can lower your score.

Better strategy:

• Keep old accounts open, especially those with no annual fees
• Use them occasionally to keep them active
• Let age work in your favor

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🚫 Mistake #5: Ignoring Your Credit Report

Errors, outdated accounts, or identity theft can quietly damage your score. If you don’t check your report, you won’t know what’s hurting you.

Stay proactive:

• Pull your report from all three bureaus at AnnualCreditReport.com
• Review it line by line
• Dispute anything that’s inaccurate or suspicious

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🤝 Want Help Avoiding These Mistakes?

We’ve partnered with a trusted credit repair team who can help you clean up your report, monitor your score, and prep your file for funding.

👉 Click here to start your credit repair journey today.

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💬 Final Word

Avoiding credit score mistakes is just as important as fixing them. By staying proactive, protecting your progress, and applying strategically, you’ll position yourself for better terms, bigger approvals, and long-term success.

Stay tuned for Post 7: Reapply with Confidence—How to Get Better Terms and Bigger Funding.

📞 Questions about funding? Call or text Mark directly
🌐 BusinessAndRealEstateLoans.com

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