Bizarre Ways to Hurt Your Credit Score

October 31, 2013, Written By Lynn Oldshue

We all know that having an unpaid bill could result in a lower credit score. This makes sense. What you might not know is that an overdue library book or a rental car reservation could have an impact on your credit score too.

Any library fine greater than $50 may be sent to a collection agency. The library won’t report your overdue account to the credit bureau, but the collection agency will. If you’ve had an overdue book out that you haven’t thought too much about, now might be a good time to reconsider.

When you reserve a rental car with a debit card, some rental car companies will pull your credit. Too many of these inquiries over a period of time can add up and lower your score.

Storage units can also lead to credit troubles if you do not pay your bills. Most storage facilities will auction off your items after a few months of nonpayment, but they are not required to accept that as full payment of the account. If you owe more than the items sold for, you may still have to pay the remaining balance. Failure to do so could result in a mark on your credit.

Credit problems can occur from a variety of sources, and you don’t want to damage your credit score. That could lead to higher interest rates on your loans. Keep an eye out for potential charges like these, and get them covered before they go to collections.



The information contained within this article was accurate as of October 31, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue