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default payments
tail_2
Posts: 1 Newbie
in Credit cards
Is a late credit card payment the same as a default payment?
any help appreciated.
any help appreciated.
0
Comments
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No.
A later credit card payment is usually recorded as a missed payment on your credit report (although if its only a few days late it might not be recorded at all).
A default is marked on your credit file when the lender believes that the agreement has broken down - typically when a person is around 3months in arrears.
A default entered on your credit file is much worse than a single missed payment marker, and has a much longer term effect.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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