Late mortgage return hurt credit more than tardy credit card allowance?
Answers:
Yes Since you cannot pay the most important bill that keep a roof over your head the damage is severe Shows you are contained by dire financial straits.
If you are paying under 30 days, it will not be reported to the credit bureaus. But you do settle add'l interest every day past your due date, it's call per-diem. Source(s): Retired bill collector 35 years
It can happen. Quite often, for credit cards your credit is periodically checked to trademark sure your account is at the correct interest rate and credit line. If you are bringing up the rear on your mortgage, then yes your rate could be increased or your credit limit lowered.
Think in the region of it, if you fall behind on your biggest and most impressive loan (mortgage), then what's to say you won't go down behind on your credit card which is much easier to walk away from?
We consider that and re-price/reduce credit lines as expected when we see this, because your are a greater risk to the bank for default. Source(s): credit analyst at a primary bank
Related Questions: