Having a good credit score can speak volumes about how responsible you are when it comes to the financial situations in your life. It is generally the strongest deciding factor in you being able to qualify for a new loan or a credit card or even whether or not you will be hired for employment or find a place to rent.

You would however be shocked to learn that, try as you might to have the best credit score possible, there are some things that while you think are good can turn out to be awful for your credit rating. While these situations might not seem like a big deal to you they can often kill an otherwise spotless credit history.

Being Debt Free
Having no existing debt can end up hurting your credit report. That’s right having no debt can be a credit killer. If you are a consumer that has no existing debt there is a great chance that it could effect your credit poorly. This is due to the fact that your potential creditors have no way to see how you will deal with the credit that they would extend to you.

Shopping for Rates
Comparison shopping for rates is another thing that many consumers would look on as being a smart financial decision. The problem here is that too many inquires into a person’s credit report can turn out to be a problem. Generally if you have more then six inquires into your credit report over the course of one month you are going to lessen your chances of being extended any credit. Creditors can often look upon transferring all your credit card balances to a lower balance credit card poorly as well.

Using Grace Periods
Do not assume that you have a grace period with any credit that has been extended to you. If you are late you are late no questions asked. Assuming that there is a grace period for late payments can often end up hurting your credit report.

Closing Accounts
Closing old accounts can erase very important credit histories. This can eliminate your current credit history, which will hurt your chances of getting future lines of credit extended to you. Keep your oldest account open if possible because it is that account which is going to offer the longest period of credit history.

Co-Signing on Loans
While you might be thinking that co-signing on a loan for a friend or family member might be a helpful idea you are really doing nothing but putting your own credit on the line. Should the primary borrow default on the loan your credit can go down the tubes along with their credit.

Keep all of this information in mind so that you can make the most responsible choices with both your money and credit history.