2006-08-23 12:11:48 · 9 answers · asked by justintke 1 in Business & Finance ➔ Credit
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2006-08-23 15:18:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The answer is Yes
Nowaday, the credit card include a universal Clause that if you default one of the credit card, effectively they may raise your interested rate and forgo any good rate you get
2006-08-24 02:15:24 · answer #2 · answered by Hoa N 6 · 0⤊ 0⤋
Most credit cards now have what they call 'universal default'. What this means is if ANY creditor reports a late payment on your credit report, your rate will increase the same as if you defaulted on that card. NOTE: this applies to late payments on utility bills and loans as well as credit cards.
2006-08-23 19:48:28 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
It could. Check your credit card agreement (that pamphlet they send you periodically with your bill with all the fine print on it) and you may find that your rate can be raised if it is discovered that you have been late on any other payment including your mortgage, car, etc.
2006-08-23 19:20:44 · answer #4 · answered by answermann 3 · 0⤊ 0⤋
Definitely! Even if you are a little late on one card all your other cards will decide you are a risk and jack up your rate. IT's a vicious circle and completely unfair in my opinion.
2006-08-23 19:19:42 · answer #5 · answered by tooyoung2bagrannybabe 7 · 0⤊ 0⤋
oh hell yes... it effects your credit rating... You other cards will see that you didnt pay one and then the red flags will go up and they will start raising your APR, etc
2006-08-23 19:17:41 · answer #6 · answered by Jessica 5 · 0⤊ 0⤋
yes all will follow suit. lets say you have a 0-5% on your other cards be prepared 19% call and expain to everyone
2006-08-23 20:50:37 · answer #7 · answered by sarah a 2 · 0⤊ 0⤋
It could. Some cards pull your reports periodically and if your score went down they can up your APR. Sucks, but they do it.
2006-08-23 20:36:28 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Of course.
2006-08-23 19:27:03 · answer #9 · answered by Anonymous · 0⤊ 0⤋