0
Can your credit be damaged by paying less than what is due on time?
Wiki User
∙ 18y ago
Absolutely. It won't be hurt as badly as not paying, but your credit report usually shows a status that reads "pays as agreed." If you're paying less than the minimum amount due each month, you're not paying as agreed and your credit can get dinged.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
If your car is repossessed and sold for less than you owe can you avoid paying the remainder?
you can alwasy avoid your respondsiblity- it will take a court action on their part and a lot of phone calls from coolectors- it will remain on your trw for 7 years afterwards- of course this is your credit and will be a bad mark added on top of the repo
Which type of lease could result in the customer paying hundreds or thousands of dollars if the residual value is less than expected at the end of the term?
open-ended lease :) A+
How can you purchase a home after paying off all of your old charge offs 3-4 years ago you now have no outstanding debt?
7
Is 8.7-0.26 greater or less than 8?
Less
Which is less than and greater than symbols?
Is < Less than or Greater than or > Greater than or Less than
Can a credit card company sue for paying less than the minimum?
Yes, a card company can sue you for paying less than the minimum amount because you are violating the terms of the agreement. They will not sue you unless you are very far behind or owe a lot of money.
Is equipment a debit or credit?
it is a credit because more than likely the job is paying for it
Is it better to file bankruptsy or be late on bills?
It is less detrimental to your credit score to be late on paying your bills (more than 30 days late) than it is to file bankruptcy.
Is office equipment a debit or credit?
it is a credit because more than likely the job is paying for it
Is office equipment debit or credit?
it is a credit because more than likely the job is paying for it
If you pay less than minimum amount on credit card what happens?
You do not want to waste you time paying less than the minimum on your credit card. Paying less than the minimum is like paying the bill late. It won't count. For example, if they ask for a minimum payment of $10 and you pay only $9 the credit card company will bill you a late charge then your finance charges will go up by the following month! This will cause you unnecessary problems. Avoid this by always paying the minimum at least. Do not waste your time paying a bill if it's not the right amount. Pay at least the minimum amount. Always! If the credit card asks you for a minimum payment of $10 and you only pay $9.99 , the payment will not count. You will create problems for yourself! What happens is they will add a late charge to your card. It's like not paying at all. Also, they can add higher finance charges! avoid this for yourself.
Does paying off a loan help your credit score?
It can help if your indebtedness is high such as too many credit cards and high balances, a car note and mortgage payment. You DIR (debt to income ratio) determines your credit worthiness. To buy property, it should be less than 35%. With the housing crunch and foreclosures at an all time high, less than 30% would be better. On the other hand, if the loan is all you have, paying it off might not be so good. Creditors consider on-time paying habits essential. No outstanding credit doesn't show you pay bills on time.
What is the best way to improve bad credit reports?
There are no quick fixes to improving bad credit reports. The best thing is to slowly rebuild credit by paying bills on time, paying more than the minimum on credit cards, and avoiding common credit traps.
Can you stop paying your credit cards if you are dying?
If you die than you won't have to dumbo
Isn't paying no interest loan by paying monthly due amount better than paying in full in term of improving credit score by having good payment history?
Making monthly payments on a no interest loan is way better than paying it off in full if you are looking to improve your credit score.
Is bad credit erased in 7 years?
NO. If you have bad credit, it will only be erased if you make it better. Paying bills on time, paying more than is due on payments and staying within your spending budget is a way to build your bad credit into good credit.
Will paying an old closed account raise credit more than paying an old open one?
== == There is no difference in credit score increase if you pay a close or open account off. Paying an account is always a good idea, and eventually it will increase your score.
