Using Your Tax Refund? Avoid This Credit Score Mistake - Paying Off Debt Can Lower Your Credit Score
Using your tax refund to pay off debt might seem like the smartest move—but it can actually hurt your credit score if you’re not careful. In this tip, I explain how paying off debt the wrong way can lower your credit score and impact your ability to buy a home. If you’re planning to purchase a house or improve your credit, understanding how different types of debt affect your score is key. You’ll learn: • When paying off debt helps your credit score • How closing accounts can negatively impact your credit These simple insights can make a big difference when it comes to qualifying for a mortgage and getting better loan options. If you’re thinking about buying a home or want guidance on your next steps, connect with me to get personalized advice. Like and follow for more practical tips on home buying, credit, and smart financial decisions. Tammie VanDeusen Your lender from your first house to your last. From the mountains to the mesas. (719) 310-3438