Q:
I would like to know that if missing one months payment but than making a double payment the following month will cause my credit score to go down.
Brenda
A:
Hi Brenda,
this is a common question and a common mistake. Typically when you make a payment 30 days late the creditor will report that late payment on your credit report as a -30 day late payment. Late payments will drop your credit score 100 points or more. The creditor will also charge a late fee as well and ruin your credit for being late. Doubling up on your payment will not stop the hit to your credit score for the -30 day late payment.
Mike Clover
CreditScoreQuick.com
