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Will it hurt my credit score?

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Joined: 05 May 2010
Aaron2324's page
Posts: 1

123 Magic Points

Subject: Will it hurt my credit score?
Posted on Wed May 05, 2010 3:19 pm  

Hello...I set up automatic credit card payment with Rogers. However, when they charged me, I didnt have enough fund on my credit card and the inquire was denied. Will this kind of stuff hurt my credit score? BTW, I had cancelled automatic credit card payment.


Joined: 08 Feb 2010
Aaron's page
Posts: 2632

48565 Magic Points

Subject: hurt your credit score
Posted on Thu May 06, 2010 8:11 am  

Hi Aaron,

Welcome to this community Smile

Can you tell whether or not you are already late on your payment? If not, then this may not hurt your score. However, if you are late on making the payment, your score will be hurt.


Keep in touch Smile

Joined: 07 May 2010
Enriquehajela's page
Posts: 11

128 Magic Points

Posted on Sun May 16, 2010 6:15 pm  

if you cross your time limit then yes definitely it will hurt for your credit score. pay before last date then your credit score is safe.
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Joined: 28 Oct 2009
FreedomDM's page
Posts: 105
Location: Florida

2329 Magic Points

Subject: Defining Late
Posted on Mon May 24, 2010 7:48 pm  

If your due date is say...the 12th of every month. Technically, you;re not reported 'late' to the credit bureau until the account hits 30 days past the due date- which would be the following month.

You'll receive a late fee and collection calls would begin immediately following the missed payment - but far as your credit score, it wouldn't be affected negatively until that 31st day of nonpmt.
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Joined: 14 Aug 2010
AmandaW's page
Posts: 11

236 Magic Points

Subject: Will it hurt my credit score?
Posted on Sat Aug 14, 2010 5:09 pm  

Your credit score may get hurt if u make late payments. 35% of your credit rating consists of payment times. However, as per the new credit reform act, effective from 22nd Aug, 2010, the late fine cannot exceed $25. However, your creditor may increase the interest rate and if you are 31 days late, that is reported to the credit bureau.

Joined: 16 Aug 2010
kakucis's page
Posts: 5
Location: London

137 Magic Points

Posted on Mon Aug 16, 2010 3:26 pm  

If your due date is say the 12th of each and every month. Technically, you;re not reported 'late' towards the credit rating bureau till the account hits 30 days past the due date- which will be the subsequent month.

You will obtain a late charge and selection calls would start instantly subsequent the missed payment - but far as your credit rating, it wouldn't be impacted negatively till that 31st day of nonpmt.
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Posted on Thu Aug 19, 2010 12:05 pm  

May be your credit card score can be hurt because of your late payments.

Joined: 07 Sep 2010
seolss11's page
Posts: 9

63 Magic Points

Posted on Wed Oct 06, 2010 9:30 am  

yes. if you will not pay in time then of course they will hurt you.. so better way is pay in time..


Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883

1916 Magic Points

Subject: credit
Posted on Thu Oct 07, 2010 10:40 am  

From personal experiences, anyway...I'm not considered 'late' if my payment isn't 30 days (or more) late. Actually, some places don't consider 'late payments' until 60 days has passed.

Joined: 11 Aug 2009
andybell's page
Posts: 18
Location: Laguna Hills

249 Magic Points

Posted on Sat Oct 30, 2010 12:27 pm  

Don't be afraid to use your credit card as the auto pay option for your bills -- just be sure to pay off that credit card bill on time every month so as not to rack up your balance and any interest on that balance. If you sign up for a rewards program with your credit card and expect points (or miles) to accrue as you pay your bills, be sure to read the fine print as automatic bill payments don't always qualify.
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Joined: 18 Dec 2010
millatyme34's page
Posts: 5

117 Magic Points

Posted on Sat Dec 18, 2010 6:49 pm  

Instead of autopay, if you just keep a receipt of your cc purcahses you can pay them off the day you made them. I have a dry erase board with dates and ammount of purchases I make with my cc. 3 days after a purchase I go online and pay it off. I might be different because I use my credit card for all purchases. It's because it's a reward card and since I don't have an annual fee and pay off banalces before the get a interest rate charge, having the credit card is actually making me money!!

Joined: 27 Dec 2010
moniquec11's page
Posts: 8

146 Magic Points

Subject: defining late
Posted on Tue Dec 28, 2010 12:36 am  

nothing reports on your credit until it is 30 days late. You will incur a fee now for not having the funds in the account..but call and make your minimum payment asap...

Joined: 17 Jan 2011
bankruptcyonly12's page
Posts: 7

97 Magic Points

Subject: Hiiiii
Posted on Mon Feb 21, 2011 11:53 am  

For a three-digit number, your credit score packs a big wallop. A low score can thrust you into the financial abyss of the sub-prime market, costing you thousands of dollars in added interest over the life of a car loan or mortgage. Consumers who have a very low score --or no score at all-- may not get credit on any terms..

Others are skeptical of the claimed nondiscriminatory effects of scoring. Consumer advocates worry, for example, that low-income workers, minorities, or segments of the population that do not have access to traditional credit sources like major credit cards or mortgages may score lower than others. Another major concern, documented in various studies, is the accuracy of data in the underlying credit report. (See the Resources section at the end of this guide for links to studies on accuracy in credit reporting and credit scoring.)

Subject: uExTaLhliZQ
Posted on Thu Mar 31, 2011 3:33 pm  

Automatic payment.. Reposted it Smile


Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883

1916 Magic Points

Subject: credit
Posted on Wed Jun 15, 2011 9:29 pm  

If you have 'bad' credit, some consumers can still get credit. However...if it's a 'High risk' CC or something similiar, your % rate may be very high. Sometimes you can get loans using your own savings account as collateral. Kind of an 'in house credit' (at your bank or credit union). And, that really helps to build your credit with them because they (banks, credit unions) do report that to the CRA's as you paying off a loan. 'Baby steps' is the way to go!! When I divorced (5 years ago) my credit score was below a 300.'s 550 to 600!! Trust me..the 'baby steps' method does work. It takes time to build your credit up again.

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