I got a credit card a few months back and vowed not to charge anything unless I could pay it off right away in order to build my credit. Well, my parents had me charge a plane ticket and the cost for 4 months of storage with the promise that they would send me the money before it was due. Here I am now, missed my first payment for two reasons. 1) they didn't send even a cent before the bill was due, 2) now that I have the money to pay it off, I am having a difficult time doing so because I can't deposit money in my account. I haven't gotten a bill yet so I couldn't mail a check.
This is my first credit card and my first payment ever. I have the money and it will be made off in the next few days, but my question is how bad will this affect my credit and am I doomed forever because of this?
2007-06-06 08:53:03 · 5 answers · asked by macho_bob 2 in Business & Finance ➔ Credit
Unless you are 30 days late, it won't be reported to the credit bureaus and won't affect your credit. Pay it as soon as possible, at least the minimum payment required.
2007-06-06 08:58:07 · answer #1 · answered by Anonymous · 2⤊ 0⤋
You're not doomed already, but you need to act to keep it from becoming a black mark on your record for the next several years. Contact the credit card company NOW and ask where to mail the payment. Or check the paperwork that came with the card - it will tell you where to mail payments.
You DID save the paperwork, right? That was a contract between you and the issuing company. It's important to save that sort of thing.
Your interest rate may jump because of this. All you can do is to pay your bills on time, and hopefully it will come down in a year or two. They need to see that you're honest and trustworthy. But if you miss a payment again any time soon, that won't happen. It's up to you, man - which way do you want to be seen?
2007-06-06 09:03:57 · answer #2 · answered by Ralfcoder 7 · 0⤊ 0⤋
Hi,
Have seen lots of people asking info on bad credits. Well, if you need to get your problem solved onarrange loans or other finance, and usually means you will pay more interest on any loan you take out. So better clear your bad credit now.
2007-06-08 02:44:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Man, don't you wish your parents had to pay the consequences for this one? How unfair can you get???
Anyway, call the cc company RIGHT NOW and tell them what's up. They may make you close the card, but you should be able to save your credit rating by acting quickly. And, now you know your family can't be trusted.....
2007-06-06 09:02:07 · answer #4 · answered by tracymoo 6 · 0⤊ 0⤋
Call customer service, explain the missing bill and the financial difficulty and see if they will give you a pass.
You'll survive one late payment. Don't make the same mistake twice.
2007-06-06 08:59:32 · answer #5 · answered by wizjp 7 · 1⤊ 0⤋