Most people do all they can when it comes to credit repair.  They pay their bills and try to keep their credit cards from making the wrong charges, but for some reason, their reports and scores never quite seem to work out as well as they hope.

To help you make some sense out of what may going wrong with your attempts at restoring your credit, the leader in Texas credit repair services has put together a list of 5 of the top mistakes just about everybody makes in their efforts to repair their bad credit.  Check these off as what not to do when getting your finances back on track:

Closing credit cards. Despite your initial instinct when faced with a poor credit history, closing your credit accounts is actually not the best idea for credit repair.  When you close your credit card, you lose the available credit on that account.  Losing that available credit will affect the credit to debt ratio.  This can case your ratio’s to go up causing you to look like a risk to potential lenders and appear less financially responsible than you are.

Late or missed payments. The most important step to total credit repair is making sure your accounts are current and up-to-date.  Missing too many payments on your accounts can be a disaster for your credit score.  Take control of your money and be responsible with your obligations.

Credit accounts are maxed-out. If you use your credit cards to pay for just about everything in life, you’re probably teetering the edge of maxed-out accounts (assuming you haven’t fallen off already…).  If this sounds familiar, consider tasking a step back and create a plan start paying your existing accounts down to around 30% of the available balance.

Too much shopping for new credit. Routinely shopping around for new lines of credit can harm your credit repair ambitions. If you fill out every credit card application that gets thrown in your face, you are likely doing much more harm to your credit than you realize.  Each credit application counts as a “hard inquiry” on your report and although you are allowed a certain amount, too many can and will have an adverse effect.

Thinking you only have one credit score to worry about. Most people think of their credit score as one number, but it’s actually three separate scores.  When attempting to fix your credit, the scores you should watch closely are your FICO® scores, the model used by most lenders to determine your credit risk.  Work on getting that as high as it’ll go, and you’re one step closer to financial freedom.  To view your FICO® scores, go to www.myfico.com