While most creditors won t report late payments made at 30 days, once it reaches 60 to 90 days, a borrower will certainly get reported. If you ve made late payments before, relax and don t worry, since over time those infractions will slowly diminish, and you ll get back your old credit score. Avoid Applying For Unnecessary Credit Always ensure that you avoid those new credit card offerings at the mall or department store, because all the newly added credit, no matter how small, are sure to do harm to your credit score. A person s credit score ranges from 500 and 850, and this scale numerically defines a person s credit worthiness. The credit score is valued, and analyzed by banks, credit unions and other financial institutions, as well as by employers, mortgage companies, and even by your landlord. Once you obtain your credit score, make sure you regularly track your credit by signing-up for a free online credit report. Another way for building a solid business credit profile is through estbalishing a payment history. You can safely do this by regularly making purchases using your credit card, so that you can build-up a good payment track record. The longer, and more timely your payment history becomes,the stronger will your business credit profile get. 300 499 Bad Credit 500 580 Poor Credit 580 619 Low Credit 620 679 Average Credit 680 699 Good Credit 700 850 Excellent Credit Regularly Monitor Your Credit Score According to credit experts, a good to excellent credit score is often weighed as a future sign of your credit value, and if your credit score is Good, then your future loan s interest rates will certainly be lower than usual. A high score usually allows you easy access to different forms of credit, while a poor score limits your financing options. Because your credit report greatly influences how you re able to get a home mortgage or get a job, you need to protect your credit rating, by making all your bill and loan payments on time regularly. A hard inquiry happens once a credit report request is made by a lender who's considering the new loan, or by another party who has debts or liens to collect from the individual. A hard inquiry also refers to a credit report that's requested by the Internal Reveue Service or the courts. How Too Many Inquiries Can Damage Your Credit Score Each time someones looks at your credit report, an inquiry is often noted.