"Minor offenses" and credit reports?

Question

Not paying a credit card bill on time (but still paying within a week or so for instance) or other similar "minor offenses", such as spending more than my allowed limit on my credit card, decrease our credit score although no notes are written to that effect in the report.

I was just wondering how long it takes for suchs events to be removed from a credit report (ie.: when the points lost for paying a CC bill a few days late will be "returned") ?

Answer 1

paying a few days late does NOT affect your credit rating as it does not get reported until you are 30+ plus late. for example if you have a due date on 6-1-2007 and do not make untill 6-5-2007 you will only get a late fee but it will not be reflected on your credit report. They do no decrease your score at all. I will for Citibank and deal with this all the time and have to explain this to card holders all the time. That being said there are tons of things that will lower you score. having too many inquires on your credit, being over 40% of your total avail credit used, having too many acct open with no activity, etc.

Answer 2

Paying the bill a few days late will not affect your score Only payments made over 30 days late will do that, however being over the credit limit on a card can lower your score by 20-30 points or more. The ratio of used revolving debt versus available revolving credit plays a key role in your score. Bringing the balance under the limit will show immediate results ( 30-60 days ) Other things that are important are age of account, amount of recently opened accounts and the number of inquireys in the last 180 days (this matters because of the time lag from account opening and reporting to the 3 repositorys)of course how timely you pay is key. You should pay credit cards down or off but leave open to create a lower revolving debt ratio and have older accounts. This also will show credit discipline. I hope this helps

Answer 3

Your credit score is not affected unless the card company reports you as 30 days delinquent. That is a big difference from a few days past due. If you are reported as 30 days late, it stays on your credit report 3-7 years. Going over the limit is different, as that affects your debt ratios. Your score will improve when you pay down the balance.

Answer 4

usually 6 months

Answer 5

certain, and they only about truly will. series agencies only about under no circumstances tell the reality on the phone. in the experience that they say some thing on the phone, that signifies that it may no longer be authentic. in the experience that they say it on the phone and then refuse to positioned it in writing, that signifies that that is only about truly no longer authentic. in the experience that they say that they received't positioned some thing on your credit document, that signifies that they probable will positioned it on your credit document. the in common words thanks to cause them to tell the reality is to communicate in common words in writing. once you call them on the phone, you provide them the skill to lie.