Financially Tough » credit history http://www.financiallytough.com Getting Tough With Your Money Thu, 24 Jun 2010 06:51:18 +0000 en hourly 1 http://wordpress.org/?v=3.0 Are Late Payments Killing Your Credit Score? http://www.financiallytough.com/are-late-payments-killing-your-credit-score http://www.financiallytough.com/are-late-payments-killing-your-credit-score#comments Fri, 13 Feb 2009 22:17:01 +0000 http://www.financiallytough.com/?p=17
  • Credit Score Do’s and Dont’s There are so much advice out these about how to...
    • Related posts brought to you by Yet Another Related Posts Plugin.]]>     Are you paying your credit cards or bills late every month.  Stop!   This could be on of the single worse things you could be doing  for your credit score and credit standing.

    First, late payments are going to cost you a lot of extra money.  First, there is always going to a late payment fee accessed to your account.  This is free money to your accounts.  It also will be pretty expensive.  This fees have a wide range and will be just added onto your bill.

    Second, late payments could cause your interest rates to rise on your credit cards.  Credit card accounts look over your credit report frequently and if there are late payments, they can raise your interest rates.  This is even true if a late payment is made to one account, another account can see and raise your rates.

    Last, late payments are going to stay with you for awhile.  These will be on your credit report for a minimum of seven years.  Ouch.  So they will have a lasting effect on your credit.

    So if you are presently late with your accounts, you need to do anything to get current.  Then you need to setup a budget and start paying on time.  No excuses.

    Related posts:

    1. Credit Score Do’s and Dont’s There are so much advice out these about how to...

    Related posts brought to you by Yet Another Related Posts Plugin.

    ]]>     http://www.financiallytough.com/are-late-payments-killing-your-credit-score/feed 1     Credit Score Scale http://www.financiallytough.com/credit-score-scale http://www.financiallytough.com/credit-score-scale#comments Thu, 12 Feb 2009 23:08:29 +0000 http://www.financiallytough.com/?p=12 Yet Another Related Posts Plugin.]]> There are several different ways to score credit.  There is the FICO score, Beacon score, and VantageScore.  Actually there is over one thousand different ways to score credit.  But are they all on the same credit score scale?

    Most actaully are but thier scoring could be different.  The most common credit score scale ranges from 350 to 850.  The VantageScore is different.  It starts at 500 and goes to 990.

    To judge where you are at on the scale you need to know what is a good credit score?  This will give a better picture of the credit score scale as you compare it to yourself.

    If you are thinking about getting a free credit score online or a 3 in 1 credit report, you should get one with a FICO score.  This is becuase this is the most popular scoring model.  It also is used as a basis for some of the other scores.  This makes the credit score scale 350 – 850 the one you will more than likely use and hear about.

    Related Blogs

    No related posts.

    Related posts brought to you by Yet Another Related Posts Plugin.

    ]]>     http://www.financiallytough.com/credit-score-scale/feed 1