1. Don’t Miss Payments Late or missed payments can severely damage your credit score. Always pay at least the minimum due on time. 2. Don’t Max Out Your Credit Cards High credit utilization (over 30% of your limit) can hurt your score. Aim to keep balances low. 3. Don’t Apply for Too Much Credit at Once Multiple hard inquiries in a short period can signal risk to lenders and lower your score. 4. Don’t Close Old Credit Accounts Length of credit history is important. Keep older accounts open, even if you don’t use them often. 5. Don’t Ignore Your Credit Report Errors or fraudulent activity can go unnoticed. Regularly check your report to ensure accuracy. 6. Don’t Spend Beyond Your Means Overspending leads to high balances and difficulty paying off debt, which can negatively impact your score. 7. Don’t Co-Sign Without Careful Consideration Co-signing makes you responsible for someone else’s debt, which could harm your credit if they default. 8. Don’t Close a Card to “Fix” Credit Utilization Closing a card reduces your available credit, which can increase your utilization rate and lower your score. 9. Don’t Use Payday Loans or Predatory Lending These high-interest loans can trap you in debt and don’t typically help build credit. 10. Don’t Forget to Diversify Credit Types Having a mix of credit (like credit cards and installment loans) can strengthen your credit profile. Avoiding these common mistakes will help you build and maintain a strong credit foundation!

Does co-signing help or hurt my credit?

1. Better Loan and Credit Card Approvals A strong credit score increases your chances of getting approved for loans, mortgages, and credit cards. 2. Lower Interest Rates Good credit often qualifies you for lower interest rates, saving you money on loans and credit card balances. 3. Higher Credit Limits Lenders are more likely to offer higher credit limits to individuals with a solid credit history. 4. Easier Apartment Rentals Many landlords check credit scores during the rental application process, and good credit can make securing a lease easier. 5. Cheaper Insurance Rates Some insurance companies use credit scores to determine premiums, so better credit can lead to lower rates. 6. Access to Rewards and Perks Good credit opens the door to premium credit cards with cash back, travel rewards, and other benefits. 7. Financial Flexibility A strong credit profile allows you to handle emergencies by giving you access to loans or lines of credit when needed. 8. Better Employment Opportunities Some employers review credit reports during hiring, especially for roles involving financial responsibilities. 9. Avoid Security Deposits Good credit can help you skip security deposits on utilities, cell phones, and even rental agreements. 10. Path to Homeownership Building credit is essential for qualifying for a mortgage, making it easier to achieve long-term financial goals like buying a home. Building and maintaining good credit opens doors to financial opportunities and long-term stability.

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How does one build their personal to leverage for business? What does that entail ?