How Late Can I Pay a Bill Before It Hurts My Credit?

Credit 101

How Late Can I Pay a Bill Before It Hurts My Credit?

How Late Can I Pay a Bill Before It Hurts My Credit?

It’s irritating to run across a bill and to realize it was due yesterday… or last week. If it’s a credit card bill, you may also have to pay a fee (sometimes, if it’s a rare slip-up, you can get it waived), and it can be especially scary to find an overdue bill if you have... Read More

More Consumers Paying Their Loans on Time

Managing Debt

More Consumers Paying Their Loans on Time

More Consumers Paying Their Loans on Time

Just 1.51% of all consumer installment loans — like personal loans and auto loans — were 30 or more days past due in the third quarter of 2014, a record-low delinquency rate, according to a report from the American Bankers Association. The 15-year average delinquency rate is 2.3%, and delinquencies hovered above 3% at the height... Read More

Help! Late Payments Are Hurting My Credit… But They Aren’t Mine

Credit Score

Help! Late Payments Are Hurting My Credit… But They Aren’t Mine

Help! Late Payments Are Hurting My Credit… But They Aren’t Mine

A reader, “DJM,” did what we here at Credit.com often suggest: checked his credit report. (Consumers can get their credit reports for free once a year.) He found the results to be discouraging: Listed on my credit report are delinquencies on credit cards that I am only an authorized user and not responsible for the... Read More

Should You Pay Your Mortgage or Your Credit Card?

Mortgages

Should You Pay Your Mortgage or Your Credit Card?

Should You Pay Your Mortgage or Your Credit Card?

In what might be a sign that Americans’ finances are getting back to normal, consumers are now less likely to be late paying their mortgages than their credit card bills, reversing a troubling trend that began in 2008. Traditionally, consumers have made paying their monthly mortgage bills a top priority. When the Great Recession struck,... Read More

Auto Loan Delinquencies Edge Up Slightly

Auto Loans

Auto Loan Delinquencies Edge Up Slightly

Auto Loan Delinquencies Edge Up Slightly

Late payments on car loans remain low, but there has been a shift in momentum. After several quarters of consecutive year-over-year declines, delinquency rates ticked up in the fourth quarter of 2013 to the highest levels in a few years, according to data from the Experian-Oliver Wyman Market Intelligence Reports and Experian’s IntelliView tool The delinquency rate is... Read More

5 Myths About Late Payments & Your FICO Scores

Credit Score

5 Myths About Late Payments & Your FICO Scores

5 Myths About Late Payments & Your FICO Scores

Recently I had the opportunity to interview Tom Quinn on my weekly podcast.  Tom is the credit expert for Fair Isaac Corporation, the creator of the FICO credit score, and he also is a former contributor to Credit.com. There are few people who know more about FICO scores than Tom. The interview yielded a number... Read More

5 Seemingly Harmless Things That Can Hurt Your Credit

Credit Score

5 Seemingly Harmless Things That Can Hurt Your Credit

5 Seemingly Harmless Things That Can Hurt Your Credit

“Mom,” my daughter said as she stood by my desk recently waiting for one of her homework assignments to print from my computer, “Did you pay this bill? It was due Oct. 4.” She asked me this on Oct. 14. And no, I hadn’t paid it. The bill she was talking about was a “toll... Read More

Consumers Making Fewer Late Payments

Managing Debt

Consumers Making Fewer Late Payments

Consumers Making Fewer Late Payments

The recent economic downturn caused many Americans to take a hard look at how they handle their finances, changing many of their spending and borrowing habits. That, in turn, has led to the massive declines in delinquency and default during the past few years, and this trend continued through the end of the first quarter... Read More

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