Here are 5 quick credit mistakes to watch out for.

Mistake #1: Making late payments. Thirty-day late payments can drop your credit score by 60-100 points!

Mistake #2: Opening store accounts to save on store purchases. Doing so means a hard inquiry, which can pull 5 or more points off your score.

Mistake#3: Closing the wrong accounts. Hold on to the cards that you’ve had thelongest.

Mistake #4:Not having enough credit. Insufficient credit shows a lack of a track record and suggestsyou may not be able to handle more credit.

Mistake #5:Carrying high balances on your cards. High balances show that your debt ratio is too high.