Posted on: 07th May, 2013 01:26 am
I had a great credit score (mid 700') few years back. Then I made some stupid financial mistakes like non payment of bills. The credit charged me with late payments. Few days ago I made another late payment. But I have paid off all the balance. Do you think I ruined my credit by making late payments? Any tips on keeping good credit scores?
If the late payments have been reported to the credit bureaus and has come up on your credit report, then it will definitely have a negative impact on your scores.
Hi Playboy,
You can check out the given page in order to know some steps to improve your credit scores: http://www.mortgagefit.com/credit-rating/credit-repair.html .
Thanks
You can check out the given page in order to know some steps to improve your credit scores: http://www.mortgagefit.com/credit-rating/credit-repair.html .
Thanks
Yes, you did. Late payments that show up on your credit report will hurt your credit. But now that you have paid them, the best thing to do is practice paying future bills on time and in full as this will help improve your credit score. Just keep checking your credit score to monitor your progress.
Most likely your credit score is lower now than it was several years ago. Late payments hurt your credit score and when they happen repeatedly it can really cause your score to drop. You might want to sign up for a credit monitoring service. It will help show you where you are now and will give you an idea of what you need to start working on to try and build that credit back up. There are many credit monitoring services that may give you advice and pointers on how to start turning your credit around.