How long till score affected?

dilby00

Hi all -

My wife and I have been overseas for christmas, and had trouble paying two of our credit cards' bills while we were away. Coming back, we've been billed for late payment for each card, which is fair.

However, we've just realised that we plan to take out a loan for a new car and are now worried our credit score will make this hard or at least more expensive.

I'm curious how long it takes for our score to be affected? I can check our credit score online of course, but if it's not showing, then I would still need to know when it will. My thought is that if it takes a few weeks I should go get a car now!

Our credit history apart from this hiccup is fine - we pay on time, and only use credit cards to collect the air miles and points. We have a mortgage with no late payments, both work and have no dependants.

Thanks!

[Deleted User]

dilby00 wrote: »

I'm curious how long it takes for our score to be affected?

Tuesday afternoon.

Ignore your credit score - they're not telling you jack about your credit worthiness and no one else sees or cares about them.

Lenders will provide monthly updates to the CRAs. The precise day will vary. Check all your files in a month's time and it should have appeared.

Ebe_Scrooge

Ignore your score - lenders don't see it. It's your history that they see.


The answer to when the late payments will appear on your record is - it depends. Different companies report to the CRAs at different times - monthly is common.


However, from what you've described, I wouldn't be too worried. 1 or 2 late payments in an otherwise clean history will have very little, if any, effect.

sourcrates

As the others have said, it's not the "score" lenders will look at, it's your credit history.

Late payments aren't brilliant, but then again, there not the end of the world either.

Most of the CRA's update monthly (approx).