Asked the CC company to defer min payment for one week

CLAPTON

bigadaj wrote: »

You're right in that it's not wise, but not illegal. As a one off it can solve a problem, doing it repeatedly would be costly and damage your credit record.

are you saying that using a credit card and staying within your limit and making at least the minimum payment will damage your credit record?

JuicyJesus

CLAPTON wrote: »

total nonsense

It's nonsense that an inability to meet payments due on the due date should be recorded on a person's credit file?

Isn't that what credit files are for?

CLAPTON

JuicyJesus wrote: »

It's nonsense that an inability to meet payments due on the due date should be recorded on a person's credit file?

Isn't that what credit files are for?

The situation here is some-one using a credit card correctly, staying within the limit and making the minimum payment on time is not recorded adversely on their credit record.

Miss_Marple_2

CLAPTON wrote: »

are you saying that using a credit card and staying within your limit and making at least the minimum payment will damage your credit record?

Would lenders not view repeatedly taking out cash from your credit card in a negative way ?

I have no idea, but did assume they would. When I checked my credit file for going through a mortgage application, I saw that my taking out cash on my credit card ( due to an emergency situation of not having access to my bank account short term) was recorded and was a little worried this would be looked at negatively, but also assumed that because it only happened once it would be ignored.

But the very fact that there was a marker to say how many times in the month cash had been taken out on the card did make me think it was there for a reason.

CLAPTON

Miss_Marple wrote: »

Would lenders not view repeatedly taking out cash from your credit card in a negative way ?

I have no idea, but did assume they would. When I checked my credit file for going through a mortgage application, I saw that my taking out cash on my credit card ( due to an emergency situation of not having access to my bank account short term) was recorded and was a little worried this would be looked at negatively, but also assumed that because it only happened once it would be ignored.

indeed so, repeatedly taking out cash on a credit card is generally seen as a bad thing credit files wise but that is true in any circumstances and not specific to this case and has nothing at all to do with cheque kiting.

Miss_Marple_2

CLAPTON wrote: »

indeed so, repeatedly taking out cash on a credit card is generally seen as a bad thing credit files wise but that is true in any circumstances and not specific to this case and has nothing at all to do with cheque kiting.

Ah - sorry - I must have not followed the flow of the posts properly

JuicyJesus

CLAPTON wrote: »

The situation here is some-one using a credit card correctly, staying within the limit and making the minimum payment on time is not recorded adversely on their credit record.

I don't think anyone's saying anything about that being recorded adversely on their credit report. Some banks do report that their cards are used to withdraw cash, but it's not an adverse marker in the same way as a missed payment or whatever. They can also report that there is a promotional rate on an element of the card.

bigadaj

CLAPTON wrote: »

are you saying that using a credit card and staying within your limit and making at least the minimum payment will damage your credit record?

No, frequently drawing cash on it will though.