Tuesday, August 23, 2005

Will Paying Off Help Your Credit Score?


Ok you got a delinquent payment you just found out.

Will it help your credit score to pay it off as soon as you found it?

I don't think so.

"Consumers should also understand, however, that one late payment can drop their credit score significantly. Even consumers who pay their bills on time may be surprised to learn their credit has been damaged by overlooked payments, or collection account for items such as unpaid medical bills, cell phone bills or parking tickets. Simply paying those bills off, however, may not raise their scores. "
Will Paying Off Help Your Credit Score?:

When you pay it off, it is recorded as a recent item on your credit history and it pulls your credit score down almost immediately.

Cya tomorrow,

Johncy Edward
Your Trusted Credit Score/Credit Repair Guru


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