With the economic turmoil, maintaining a high Fico score is more important than ever. Just about everyone understands if you pay your bills late or skip a payment all together, your credit score is going to be lower than someone’s who always pays everything before it’s due. We also understand that a lower utilization of our available credit will increase our Fico Score.

There are some other financial mistakes that may not be as well known, but that will also cause a lower credit score. When talking about your financial situation, what you don’t know really can hurt you here are some financial mistakes you need to avoid: