Common mistakes tank credit scores by hitting key factors like payment history (35% of FICO), utilization (30%), and inquiries/new credit (10%). Avoiding them rebuilds toward super-prime (781+) steadily.
Late Payments
Missing due dates—even once—drops scores 60-100+ points, lingering 7 years. Lenders prioritize this; autopay prevents slips on cards or Prime Bank EMIs.
High Utilization
Maxing cards (over 30%, ideally under 10%) signals risk, cutting scores fast. Pay before statements close; on KES 100k limit, cap at KES 10k owed.
Too Many Applications
Multiple hard inquiries (e.g., store cards, new loans) subtract 5-10 points each, lasting 2 years. Space requests 3-6 months; pre-qualify for Prime loans first.
Closing Old Accounts
Shutting longstanding cards shortens history and spikes utilization. Keep them open, low-use for age boost toward super-prime.
Minimum Payments Only
Paying bare minimums balloons interest and utilization. Clear principals aggressively to free capacity for Nairobi service pros eyeing business loans.
Co-Signing Risky Loans
Guaranteeing defaults hits your report directly. Vet co-signers thoroughly before Prime Bank personal loan apps.
Ignoring Report Errors
Unspotted mistakes (wrong late pays) drag scores. Check free TransUnion/CRB quarterly in Kenya; dispute via CIBIL apps.
Steer clear for 3-6 month gains; salaried users like you hit prime thresholds quickest with these fixes.
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