T0KK1E asked:
I have two questions, First, are cash advances bad for my credit score and second i missed a couple of payments by like a day, but ive pay for all my cards, i have 3, how much does missing a payment effect my score?
Default on payday loan
I have two questions, First, are cash advances bad for my credit score and second i missed a couple of payments by like a day, but ive pay for all my cards, i have 3, how much does missing a payment effect my score?
Default on payday loan
January 17th, 2009 at 7:34 pm
no just bad for charges on your card and you must be 30 days past due for there to be any effect on your score 1 day isn’t any thing to worry about
January 20th, 2009 at 10:05 pm
First. Cash advances are not bad for your score unless your balance exceeds 30% of your limit then your score takes a hit.
Second. As long as your payments are made 29 days or less after the due date they are not report-ably late. You would most likely get hit with a late fee but the payment would not be reported late.
January 23rd, 2009 at 11:22 am
first, i dont think cash advances are bad for your score, they are just included on your balance. but watch out, you usually come with an extremely high interest rate!! and you have to pay purchases down before you get to bring your cash advance balance down.
second, most times a day or two isnt bad, depends on how picky the credit card company wants to be. and if they think its a good reason to say that you “defaulted” , your other credit card interest rates will go to default rates too!!