Credit Score Headaches
No matter the reason, overdue payments on an outstanding bill or loan can damage your credit score. If even a $10 balance is one day late, which the industry counts as 30 days, it could send your score plummeting more than 100 points, credit experts warn. The impact is even larger if you have a record of frequent late payments or lengthy periods before an overdue payment is made. If you aren't totally sure where you stand in terms of your credit, you might be able to gain access to tools that allow you to check your credit score every week to stay in the loop. All three nationwide credit reporting agencies – Experian, Equifax, and TransUnion – are offering consumers free weekly credit reports until the end of 2023, so you can stay in-the-know when it comes to your score.
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