Most people are fully aware that a late payment or maxing out their credit cards can do some damage to their credit. However, it has long been mysterious as too how much damage, as in how many points the score will drop with each mistake.
But recently, FICO has released a “damage points” data that actually discloses how many points a borrowers’ score can drop with each mistake.
For further information check out this article from “Yahoo Finance“.
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