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NoSoup · 05-22-2003, 03:11 PM

Greg700:

It depends on what exactly means. As long as your bill is paid within 29 days of it being due, the Credit Reporting Agencies (ie TransUnion) will never know you were behind. However, you will probably be charged late fees and your interest rate may be increased. On the 30 day, it will report to your bureau as a delinquent payment, damaging your empirica score as well as your credit history.

As for the second part of the question- Yes, it does hurt your score. Get that balance at least payed down as fast as possible. The Credit Reporting Agencies keep track of the highest balance you have ever owed on a line of credit. My advice is to apply for an increase on your limit as soon as you have paid it down considerably, and don't go over 60% of what the limit is. As strange as it may be, it is better to have two credit cards with balances at 50% of the limit than one card maxed out.

I hope that answered your questions!
Thanks for Posting!

05-22-2003, 03:11 PM	#5 (permalink)
NoSoup Non-Rookie Location: Green Bay, WI	Greg700: It depends on what exactly means. As long as your bill is paid within 29 days of it being due, the Credit Reporting Agencies (ie TransUnion) will never know you were behind. However, you will probably be charged late fees and your interest rate may be increased. On the 30 day, it will report to your bureau as a delinquent payment, damaging your empirica score as well as your credit history. As for the second part of the question- Yes, it does hurt your score. Get that balance at least payed down as fast as possible. The Credit Reporting Agencies keep track of the highest balance you have ever owed on a line of credit. My advice is to apply for an increase on your limit as soon as you have paid it down considerably, and don't go over 60% of what the limit is. As strange as it may be, it is better to have two credit cards with balances at 50% of the limit than one card maxed out. I hope that answered your questions! Thanks for Posting! __________________ I have an aura of reliability and good judgement. Just in case you were wondering... Last edited by NoSoup; 05-22-2003 at 06:38 PM..