Little Actions That Can Hurt Your Credit Score a Lot

We've heard the warnings before, but now that the holiday shopping season is upon us, it may be useful to hear it again: Back away from the wallet, put down that credit card, and think about what you're about to do. Even the tiniest action, when it comes to credit, can hurt your credit score.

For instance, according to Tracy Becker, president and founder of North Shore Advisory Inc., a Tarrytown, NY-based credit restoration and education company, when a third party reviews a consumer's credit profile (as they do when you apply for a credit card or mortgage) it can cause your credit score to drop by as much as much five points. Or, if you end up inadvertently charging over your credit limit -- even by as little as 10% -- that action can bring your credit score down by as much as 100 points.