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What hurts your credit more?- out of these 2
Danny_G
Posts: 719 Forumite
in Credit cards
What is worse? and hurts your credit more?
applying for 4 credit cards on the same day/week... (lots of searches)
or missing a minnimum payment (due to just missing it)
is one worse than the other, and hinders your credit file more?
applying for 4 credit cards on the same day/week... (lots of searches)
or missing a minnimum payment (due to just missing it)
is one worse than the other, and hinders your credit file more?
No Unapproved or Personal links in signatures please - FT3
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Comments
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What is worse? and hurts your credit more?
applying for 4 credit cards on the same day/week... (lots of searches)
or missing a minnimum payment (due to just missing it)
is one worse than the other, and hinders your credit file more?
4 credit searches I'd say.
Missing one payment seems to be acceptable, as it could happen to anyone, innocently.We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com0 -
It depends how you look at it, in the short term 4 credit searches is going to lower your credit score, however after 6 months this is not important.
A missed or late payment means it's red flagged in your credit file and is taken into account for applications for 12 months after the missed/late payment.0 -
Credit searches fall off record after 12 months. Account details i.e. payments/limits etc. even if an a/c is closed remain on record for 6 years. Judge for yourself which way you would like to go...0
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Both -cannot be trusted if the company has sense.0
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