2007-11-09 11:05:50 · 6 answers · asked by bob 1 in Business & Finance ➔ Credit
why do so many people obsess with the I Love Debt score?
If you pay as you go. Live on less than you make you'll come out ahead.
Credit cards are nothing but trouble. they make all the rules and change the rules in the middle of the game. Just read the fine print. You dont need credit cards.
Of course these people that do financing for a living are gonna tell you different.
Debt Free is Definitely the way to be!
2007-11-09 17:56:34 · answer #1 · answered by heybulldog 5 · 0⤊ 0⤋
I not sure about a late fee! But anything,a buisness may turn your name for an unpaid fee even a $1.00 is on your credit report for 7 years,if it went to collection agency.
But it is better to pay it off.Because,if you don't your credit history shows after the 7 years you didn't pay it.It's in the "RED".
If you have not got a "promotional block" with Equifax,Transunion and Experian, that also brings down your score.Credit card companies can look at your "score",and send you advertisment to get on of their cards.When you do a pro.block ,only companies you actually sign up for can look at your score.
Learned this on Oprah the other day.Let's say you have 5 credit cards.Pay all of them on time,for 3yrs.You fall on hard times. And you are only late on one.Well,all 5 companies can raise the interest rate to their cards you have.It's called a "universal..........(something-sorry I tried to find my notes I took during the show ) But it's legal for them to do this!
And Experian,Transunion,and Equifax each have a credit scores!
Take care!
2007-11-09 11:24:29 · answer #2 · answered by need2know 5 · 0⤊ 0⤋
It will affect your credit. But if you only do this once...its okay. Your lenders will forgive you. As long as you did eventually pay it. People want their credit to look good to their lenders when they want to get a loan. Well, lenders look at your past history. One slight dip, they will give you a break. If it becomes a trend, it will reflect negatively. Also, lenders might have a problem with it if you apply for a loan soon after the incident. Wait at least a few months before applying for a loan. That way they can see that you did continue back on the right track.
2007-11-09 14:02:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You mean like a credit card late fee because you were 3 days late?
Not at all. You have to be a full 30 days late in order for it to ding your credit.
2007-11-09 11:07:35 · answer #4 · answered by Uncle Pennybags 7 · 2⤊ 0⤋
Not sure, but I always call the company and try to get it reversed.
2007-11-09 11:08:36 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Bg Time!!!!!!
2007-11-09 11:09:36 · answer #6 · answered by camphec63 2 · 0⤊ 1⤋