Youve paid your bills on time.
Youve avoided massive debt, or maybe youve paid it down.
Now you have a healthy credit score to show for it.
But tough times can happen, no matter how responsible you are.
The good news is that whats tough on your wallet isnt always bad for that powerful three-digit number.
Here are nine financial setbacks that wont affect your credit score.
What Hurts Your Credit Score?
But the credit bureaus arent notified if you lose your job.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Pretty much any credit software will ask you about your job and income.
Without steady income, youre unlikely to get approved for new credit no matter how good your score is.
Youve Blown Through Your Savings
The credit bureaus dont know how much money you have in the bank.
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3.
You Were Late on Rent
Most landlords and apartment complexes dont report rent payments to the credit bureaus.
But paying your rent is a top priority.
While this move doesnt hurt your credit score, it should be considered only as a last resort.
You Overdrafted Your Bank Account
If youre a frequent overdrafter, chances are youll rack up hefty fees.
But your bank probably wont report you to the credit bureaus.
Instead, it will relay that information toChexSystems, which is like a credit report for your banking activity.
But a tax lien is still public record.
If youcant afford your taxes, try setting up a payment plan with the IRS.
you could often get approved automatically in just a few minutes.
Usually, youre limited to one free report from each bureau per year.
Look out for any accounts or hard inquiries you dont recognize.
Also confirm you dont have payments reported as late that you made on time or had permission to miss.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
She writes the Dear Penny personal finance advice column.
Send your tricky money questions to[email protected].
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