Monthly Payments & Credit Score Q & A


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.
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

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