4. Wrong Information

The wrong personal information on your credit report could hurt your credit. This could be things like your name, your home address, where you've worked in the past or even your Social Security number. How does a wrong address hurt your credit?

Your information may be mixed up with someone else's, especially if you have a common name, or are a "Jr." or "Sr." Or it could indicate identity theft and that could really wreak havoc with your credit. By reviewing your credit report, you'll be able to quickly see if there's any information that needs to be updated or changed.

5. Different types of hard inquiries

When applying for a new line of credit, an issuer will access your credit report, which is commonly referred to as a hard inquiry. Too many of these inquiries can affect your score. Keep in mind that credit cards are not the only area you can receive a hard inquiry.

 Starting a new cable subscription, signing up for a cell phone contract or even renting a car can result in a hard inquiry. So next time you sign up for something, ask the business whether they will be performing this task.