5 Things that are practically killing your Credit Score

A good Credit Score goes a long way and one should never do anything to hurt it. But there are many things which affect your credit score and sometimes we might not even be aware of them. Half knowledge about what affects your credit score could really hurt your score and leave you with a bad report.

So here are a few things which are hurting your credit score which you never knew about:

1. Avoiding paying your fines and dues

If you thought that not paying your library fine or rent on time won’t affect your Credit Score, think again! If you are one of those who ignores the parking tickets and library fines and thinks that it can’t potentially harm you, well you are in for a nasty surprise. CreditRepairXP (which recently acquired VeTransfer.org) is a big advocate of this issue and has mentioned that almost all of its users make this major mistake.

These small dues can really hurt your credit score if the company decides to use a collection agency to resolve all these accounts by you. Regret it already? The worst part is that these collections stay on your credit report for at least 7 years!!!

That is the worst thing and will definitely hit your credit score badly. So make sure you clear up all your small or big dues on time.

2. Not using your Credit Card

Yes, credit cards can be a pain with their huge interest rates and payment policies. But they can help you with your credit score if used wisely.

I know you would probably think that if I am not using my credit card, my credit score would be high right? Well, sorry to disappoint you but it could actually be counter-effective for your credit score.

When you don’t use your credit card anymore, creditors don’t have any history and after some time due to a lack of use, your credit account might also get closed.

This could be really bad for you when you are applying for credits and there is no history to back you up.

3. High Credit Card utilization

Everything is bad in too much quantity, even using your credit card. While not using your credit card can hurt your chance of getting a loan greatly, having a credit card with too much utilization could also lead to the same result.

Make sure you always keep your credit card usage to just 30% and don’t exceed that limit. The lesser the utilization is, the higher your credit score will be.

4. Paying high amounts with your Debit card

You must have thought that when you already have money in your account, why not use the debit card directly? Why even bring the credit card into use? I can tell you why using your Debit Card for huge payments could be a big mistake.

Imagine you are renting a car for a few days and decide to use your debit card instead of your credit card, the renting agency will get your credit report and make sneaky inquiries with your credit agencies.

This could really hurt your credit score because multiply inquires in a fixed period of time tend to lower your credit score and this data remains on your report for 2 years. So next time you plan to make a huge deposit, use cash or a credit card.

5. Applying for too many credits

Don’t apply for too many loans at once or in a short interval of time. This tends to lower your credit score because when you apply for a loan, the agencies pull out your report and make multiple inquiries about you.

Thankfully, if the loan you are applying for is a car loan or a mortgage loan, then the credit agencies consider this as a single inquiry and keep your credit score safe. But other than that, you need to be extra careful while applying for loans and credits.

BofA Merrill Lynch raises Intuitive Surgical’s price target to $550

Analysts at BofA Merrill Lynch increased the price target on shares of Intuitive Surgical, Inc (ISRG) to $550.00 from $460.00 following the announcement that the company received FDA approval of the da Vinci Xi Surgical System, and reiterated Buy rating on the stock.

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“Based on our preliminary take and our view that this could be the first of a number of new system launches over the next 12-18 months, we are increasing our 2015 estimates and raising our PO to $550.” BofA Merrill Lynch said

“Depending on what we learn at the SAGES meeting this week in Salt Lake, we may revise our preliminary thoughts. SAGES is the big general surgery meeting and ISRG plans to officially launch Xi to clinicians at this meeting. We are highly likely to learn much more about the Xi system at SAGES and we will be able to gauge physician response more thoroughly.” it added

Shares of Intuitive Surgical, Inc (ISRG) surged by 12.7 percent to close at $493.60 on Tuesday.

Cantor Fitzgerald Upgrades Netflix to Buy

Research analysts at Cantor Fitzgerald have upgraded their rating on Netflix (NFLX) from Hold to Buy and raised the price target on the stock from $405 to $425.

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“We’re upgrading NFLX to BUY from HOLD and increasing our PT to $425 from $405 on stronger-than-expected 1Q:14 results and better 2Q:14 guidance. With international expansion firmly in place and profitability achieved ahead of expectations, with the prospects for an imminent launch in France and Germany, and a $1-2 price hike later this quarter across its geos, NFLX has gotten a lot more compelling with several catalysts in tow, in our view.” Cantor Fitzgerald said in a note to clients

“Subscriber growth metrics show that consumers’ appetite for the service remains strong even as Netflix’s penetration approached a third of all U.S. domestic households. The ~24% pullback from its recent high makes the stock a compelling buy again, in our view” it added

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Shares of Netflix (NFLX) closed at $348.49 on Monday.

BARCLAYS STARTS OMNICOM GROUP (OMC) AT OVERWEIGHT

Barclays Initiated Coverage on Omnicom Group Inc with an Overweight rating and price target at $85.

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“The focus for Omnicom is around the proposed merger with Publicis. The combined Publicis Omnicom group could deliver an attractive 17% TSR for shareholders, and yet trades at a modest discount to its closest peer WPP on 2017E (first year of synergies and implementation costs drop out of the P&L). We continue to like the agency business model as well.” Barclays analysts said in a note

BROKERAGES VIEW YAHOO (YHOO) RESULTS

BofA Merrill Lynch – Maintains Buy, PT lowered to $43 from $44

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Cowen & Co – Maintains Market-Perform,  PT raised to $32 from $29

Goldman Sachs – Maintains Buy rating and PT at $48

Nomura – Maintains Neutral rating and PT at $40

Stifel Nicolaus – Maintains Buy rating and PT at $49

Oppenheimer – Maintains Outperform, PT raised to $43 from $38

Raymond James – Maintains Outperform, PT raised to $42 from $38