When you are considering financing for business or home loan, make sure you avoid the following.
- Don’t cancel any credit cards
- Never cancel older credit cards – Credit cards held for many years improve credit
- Don’t make loan or credit card applications – excess inquiries may lower your credit rating
- Don’t co-sign on any loan
- Don’t go to a bank for funding advice – they’ll try to get you to fill out an application that will spur an inquiry.