MANAGEMENT

Detailed explanation-1: -Even after paying your bills and keeping the payments timely and also adhering to the timeline of the payment schedule, if you have a high credit utilization ratio, then it will have a negative impact on your credit score and it will decline.

Detailed explanation-2: -Credit scores can be improved in many ways, but paying utility bills on time is usually not enough to make a meaningful difference. While gas, electric, and water are common utility bills that people pay, the information is not reported to the credit agencies and does not appear on an individual’s credit report.

Detailed explanation-3: -Only those monthly payments that are reported to the three national credit bureaus (Equifax, Experian and TransUnion) can do that. Typically, your car, mortgage and credit card payments count toward your credit score, while bills that charge you for a service or utility typically don’t.

Detailed explanation-4: -One of the best things you can do to improve your credit score is to pay your debts on time and in full whenever possible. Payment history makes up a significant chunk of your credit score, so it’s important to avoid late payments.

Detailed explanation-5: -On-time payments are the biggest factor affecting your credit score, so missing a payment can sting. If you have otherwise spotless credit, a payment that’s more than 30 days past due can knock as many as 100 points off your credit score. If your score is already low, it won’t hurt it as much but will still do damage.