8. Closing and opening several credit cards at once: Some consumers by mistake think that by closing down credit cards they will rarely use the credit cards and instead will boost their score, but unfortunately the opposite occurs. Closing down accounts will decrease your total amount of available credit, which will automatically push up your credit utilization ratio. In general, there is no reason to shut down your old credit cards unless they carry a high annual fee. Also, opening additional cards is one way to decrease your overall credit utilization ratio. Remember that every time you apply for a card, the issuer puts in what’s called a “hard inquiry” to the agencies for your score.

9. Using too much credit: Your credit utilization ratio accounts for 30 percent of your credit score. If you're hovering near the maximum on your accounts, you are considered a high risk to credit card companies. The less you use, the better will be your credit score. Those with the best credit scores on average use about anything over 35 percent which is considered high and can impact credit scores, and thereby decrease your chances of getting another card.

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