Posted on: 04th Jun, 2009 12:17 pm
I have a circuitcity card that got transferred to Best Buy. I had it for 0% till May 2009. I have now been charged a Finance charge of $745. I want to pay the original amount and close it without paying the finance charges. The company says they will try to settle it, however it will show as "SETTLED FOR LESS" on my credit histroy. What are the repurcussions of this as I do not want to harm my credit histroy
anandbora
Welcome to the forum.
it will have an impact on yoru credit score and when you are goign to apply for any loan or credit card this will be considered negative and probably result in a higher interest rate. Probably some time you may get rejected for loan.
Good luck and feel free to ask.
Welcome to the forum.
it will have an impact on yoru credit score and when you are goign to apply for any loan or credit card this will be considered negative and probably result in a higher interest rate. Probably some time you may get rejected for loan.
Good luck and feel free to ask.
Hi anandbora!
Welcome to forums!
As far as I know, a "SETTLED FOR LESS" status on your credit report will definitely effect your credit score. The exact points by which your credit score can go down may vary.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As far as I know, a "SETTLED FOR LESS" status on your credit report will definitely effect your credit score. The exact points by which your credit score can go down may vary.
Feel free to ask if you have further queries.
Sussane
if you can pay the debt in full, it will reflect a paid in full account. am i to believe that this account is still in good standing at this time? it would seem not from the tone of your post, but i might be wrong.
