your credit report? How long will it show negatively on your score? Best to pay and cancel card?
2007-03-02 04:08:19 · 8 answers · asked by Jasmine 5 in Business & Finance ➔ Credit
Details: My best friend died of cancer in Dec and I got caught up with funeral and etc. I missed 2 payments but did pay them and they waived my late fee. It shows on my credit report as 30 days late
2007-03-02 04:10:48 · update #1
unfortunately it's gonna be there. everytime you pay late the company will report that to the credit agency. sucks doesn't it?! anyway, i's say PAY IT OFF FIRST and then have the card cancelled ...never pay late when paying it off. but even when you do, it will still be reported, but reported that you paid on time and that it was cancelled. you can build back up your credit score afterwards, but it will be hard because the score has gotten low.
good luck!
rossem is right though ...it will clean up after 7 years. but i'd advise to work at fixing your credit during that time.
2007-03-02 04:13:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Any negative items will show on your credit report for 7 years from the date of the negative item. So if it was reported in January 2007, it will be on your report through January 2014.
If you only have the one 30 day late payment but otherwise perfect credit and pay on time from now on then that really won't effect it much past the short term of a few months.
If they waived the late fee and you have had a good history with them, have you asked if they would remove it? They probably will not but it would not hurt to see if they would.
2007-03-02 04:29:17 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
It shows for a long time, but it's effect is lessened as time goes on and you pay your bills on time. Sometimes a loan underwriter will ask about it, but if you go for a mortgage say a year from now, they may not even do that.
It would be good to pay off this card, but not necessarily to cancel it. The cancelled card stays on your credit report and may actually be a negative.
2007-03-02 04:15:49 · answer #3 · answered by VirtualElvis 4 · 0⤊ 0⤋
A credit history shows the past 7 years.
2007-03-02 04:10:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Even after they update your credit report and show it as paid, it will still show you did go 30 days late 1 time. This will show for I believe 5 years. It really shouldn't affect your credit score too badly since it was only 1 time and only 30 days.
2007-03-02 04:14:09 · answer #5 · answered by lakee_4 2 · 0⤊ 1⤋
Sorry to hear about your friend. I'm not sure how long it will be on your report but keep making your payments on time from now on --don't miss any more. Your credit score will go up soon.
2007-03-02 04:17:54 · answer #6 · answered by dimplez 3 · 0⤊ 0⤋
7 years
keep the card open to maintain a credit history. if you are only 30 days late once or twice, it won't be as bad if you cancel it and start over.
2007-03-02 04:30:34 · answer #7 · answered by ropman1 4 · 0⤊ 0⤋
It will show on your credit report as long as that trade is reported on the credt report.
2007-03-02 04:11:01 · answer #8 · answered by Anonymous · 0⤊ 0⤋