Learn how your credit scores are affected by loans

The credit scores They provide lenders a look at your financial history by looking at five main factors, but far more than five things go into that all-important triple-digit number.

You probably already know that it's important to pay your bills on time, maintain a low debt-to-available credit ratio (also known as utilization rate), and maintain a long history of accounts in good standing. You may also be aware that it helps to limit new credit applications and have a diverse mix of credit products.

However, there are some less obvious situations that can also affect your credit, such as overdue library books and unpaid parking tickets.

Below, we review these two surprising examples along with 10 other little-known things that can affect your credit scores

1. Credit limit increase requests
When you request a credit limit increase, your card issuer can do some heavy credit work. This may temporarily affect your credit scores in a few points. However, there are times when credit limit requests do not cause any damage to your credit score, such as when the issuer performs a soft tug on your credit or initiates an automatic increase.

 2. Business credit cards
If you are a small business owner or employee, actions you take with your business credit card may affect your credit scores staff. Business owners who are the primary account holders have the greatest liability, and therefore the greatest risk, to their personal credit.

Read More: What is the best time to pay your credit card, we tell you

3. Unpaid medical bills
Payment history is the most important factor in your credit score, and it extends beyond your credit card and loan bills. Any unpaid medical bills can be sent to debt collection agencies after a certain period of time.

4. Telephone Payment Plan
Installment loans, like pay-by-phone plans, may show up on your credit report and may affect your credit scores . So if you want the latest iPhone and opt for an affordable two-year payment plan, make sure you keep up with the monthly payments.

5. Rent and utility withholding
If you withhold rent and utilities or break a lease without paying the break-of-lease fee, your non-payment may be reported to the credit bureaus and negatively affect your credit. Landlords and utility companies generally do not report your payment history to credit bureaus, but they are likely to report unpaid bills.