General

Topic Don't ever miss a minimum credit card payment

Staraang

5-Dec(#1)

I've never missed a credit card payment in my life. I recently got a credit monitoring alert that stated I was delinquent on a payment. That was news to me so I went back and checked. Turned out there was a small balance (~$50) on a credit card that I rarely use anymore that I didn't know about. The charges were for electric car charging because I had forgotten to change the credit card info on the app when I switched over to my current regular cards.

I immediately paid the balance. However my credit score dropped by >100 points. I ended up talking to the bank last week and explaining the error was unintentional and they were fairly sympathetic. Today they let me know they would remove the derogatory mark on my credit report which is great news since we were planning on possibly purchasing a home next year. Had me pretty nervous there for a while though.

Moral of the story is set your credit cards for automatic payments for at least the minimum due. If you have multiple credit cards it's easy for this issue to arise especially if you have some infrequent recurring charge that you forgot about.

Porksta

5-Dec(#2)

To add to this - never pay the minimum due, pay the balance due.

shadyfozzie

5-Dec(#3)

1) never sign up for paperless billing.. that's how they getcha
2) Check your statements/credit score once a month (or get an alert on your phone that monitors it)
3) If this ever happens, call them. Like Starrang said, they are pretty lenient if you don't abuse it.. Once I had a balance of $81 or so and accidentally punched it in as 18. A few days later I got an alert and called them.. they siad don't worry about it and that it was taken care of.. Just don't make it a habit and they are pretty good with working with you.
4) As Porksta said, unless you have 0% interest and a strict monthly payment plan, never pay the minimum (unless you are putting the majority of the money towards another card, ala the snowball effect).

Staraang

5-Dec(#4)

I always pay my full balance. My point was more about having automatic payments set so that you can avoid becoming delinquent unwittingly. I’m a little surprised the bank didn’t make an attempt to warn me about the delinquent payment before reporting to credit bureaus. I figured they would prefer to collect on money owed before taking other steps. I would’ve paid them right away if they just sent me an email or letter.

One more thing, my bank’s website specifically said they don’t do goodwill adjustments but I still asked them very politely and apologetically and they ended up doing one for me. So don’t lose hope if your bank says they won’t do it on their website. It doesn’t hurt to request one. I emailed my bank’s CEO in addition to calling customer service.

KCPenguins

5-Dec(#5)

1) Paperless billing... I had a bill get delivered close to due date. It was mailed before due. They tried to charge me late fees.

2) Don't buy anything on a CC unless you can pay it off at the end of the month, plan to buy everything you can afford on a CC that you can pay off at the end of the month if they have cash back. This takes control and budgeting.

3) If 1 fails and you've been a responsible CC user, call them. Start off nice, then threaten to leave if they don't fix it. I would not hesitate to leave a CC company that won't fix issues beyond your control.

SublimeFan

6-Dec(#6)

Staraang wrote:

> I’m a little surprised the

> bank didn’t make an attempt to warn me about the delinquent payment before reporting

> to credit bureaus. I figured they would prefer to collect on money owed before taking

> other steps. I would’ve paid them right away if they just sent me an email or letter.

I don't know if I understand - but I'm far from an expert in the field. Did you credit score ACTUALLY drop, or was it going to drop? I didn't think that once delinquent marks are reported, that they can easily be removed, even if by the reporter. Essentially, I thought the power is out of the hands of the bank once it is reported.

To another point - this thread has a ton of great advice regarding credit. Sorry this happened, Staraang, but happy to see you were able to recover with appropriate action.

benstylus

6-Dec(#7)

Reporting to bureaus and sending to collections are two different things. Card issuers will regularly report to bureaus whether it's good (monthly payments made on time) or bad news (late payment, seriously late payment, etc). They will almost always try to contact you before selling your account to a collections agency though.

Watch out for your rate - some cards will push you into a much higher "penalty" rate if you miss or are late with a payment. And with interest rates already being high as is, that's another good reason to keep your balance low or ideally pay it off completely every month.

John

6-Dec(#8)

I agree with most of the above -- especially the "only charge what you can afford and pay it off in full every month."

I get a LOT of benefits (airline miles, hotels, whatever) from credit card deals -- but those only really work if you pay the statement balance in full every month so that you never pay any fees or interest.

The only thing I really disagree with above is the "no paperless billing" stuff. I have ALL of my stuff (credit cards, utilities, whatever I can) on paperless billing. I don't need any physical mail -- it is such a waste.

If you want to review things, then log in and do it any time.

But I don't see that paperless billing is "how they get you." It's not some trick.

John

6-Dec(#9)

Oh, and @Staraang -- I did almost the same thing last year! I had a hotel credit card that I didn't use any more, but keep it because it has a free night stay every year for only a $49 annual fee. For some reason, I hadn't set up auto-pay on that card. So, my annual $49 fee came -- which was the only thing on the card -- and I didn't pay it. I didn't notice until a couple of months later!

I then immediately paid it, set up autopay, and then called them. Because it was my only late payment, they were cool about it and removed all fees and the late report -- just like you. So, yes, always ask! Especially if it really is a rare occurrence!

Porksta

6-Dec(#10)

I remember a thread on Reddit regarding scummy things companies did while you worked for them. One response was a person that worked for a credit card company that did not issue statements at all. People would call (this person worked customer support) and complain that they missed their payment because they never got a statement. Person had to reply that statement issuances are only a courtesy and are not required. Obviously the intent of the company was to not issue statements so people would rack up interest charges.

SublimeFan

6-Dec(#11)

benstylus wrote:

> Reporting to bureaus and sending to collections are two different things. Card

> issuers will regularly report to bureaus whether it's good (monthly payments made

> on time) or bad news (late payment, seriously late payment, etc). They will almost

> always try to contact you before selling your account to a collections agency though.

I appreciate the explanation. I WOULD like to understand why my credit score bounces +/- 3 pts while I make all payments on time, don't open up new accounts, or close old ones. Chase's tools never provide a good explanation - utilizing more of my overall credit, maybe? Always pay balance in full and on time.

Porksta

6-Dec(#12)

Nobody knows the exact math behind a credit score. Doing so would make it too easy to game. All we know are guidelines and hints.

Orlandu

6-Dec(#13)

SublimeFan wrote:

> benstylus wrote:

>> Reporting to bureaus and sending to collections are two different things. Card

>> issuers will regularly report to bureaus whether it's good (monthly payments made

>> on time) or bad news (late payment, seriously late payment, etc). They will

> almost

>> always try to contact you before selling your account to a collections agency

> though.

> I appreciate the explanation. I WOULD like to understand why my credit score bounces

> +/- 3 pts while I make all payments on time, don't open up new accounts, or close

> old ones. Chase's tools never provide a good explanation - utilizing more of my

> overall credit, maybe? Always pay balance in full and on time.

Credit scores always fluctuate a little due to utilization rate. A portion of your credit score is determined by how much of a balance you have on your cards relative to your total available credit. Paying your bills on time won't matter because the score could be calculated in the middle of a billing cycle. Mine always drops a bit around Christmas due to seasonal buying.

John

6-Dec(#14)

Porksta wrote:

> I remember a thread on Reddit regarding scummy things companies did while you worked

> for them. One response was a person that worked for a credit card company that did

> not issue statements at all. People would call (this person worked customer support)

> and complain that they missed their payment because they never got a statement.

> Person had to reply that statement issuances are only a courtesy and are not required.

> Obviously the intent of the company was to not issue statements so people would

> rack up interest charges.

Ok, but this is very much an exception. Don't get credit cards from crap companies. No real credit card companies (Chase, Capital One, AMEX, BoA, Citi, etc.) do anything like that at all.

In other words, people don't need to worry about going paperless with almost any of the normal credit card companies.

Porksta

6-Dec(#15)

Oh sure, just a neat anecdote!

Staraang

6-Dec(#16)

SublimeFan wrote:

> Staraang wrote:

>> I’m a little surprised the

>> bank didn’t make an attempt to warn me about the delinquent payment before reporting

>> to credit bureaus. I figured they would prefer to collect on money owed before

> taking

>> other steps. I would’ve paid them right away if they just sent me an email or

> letter.

> I don't know if I understand - but I'm far from an expert in the field. Did you

> credit score ACTUALLY drop, or was it going to drop? I didn't think that once delinquent

> marks are reported, that they can easily be removed, even if by the reporter. Essentially,

> I thought the power is out of the hands of the bank once it is reported.

> To another point - this thread has a ton of great advice regarding credit. Sorry

> this happened, Staraang, but happy to see you were able to recover with appropriate

> action.

Thanks, man. I was panicking a bit initially but things turned out well thankfully. The bank was pretty cooperative because of my prior record of not missing payments plus the fact that it was a small balance.
And my score actually dropped. The delinquent mark can be removed by the reporter, fairly easily it appears. I think the credit bureaus allow this flexibility since mistakes are made frequently on credit reports which can be quite damaging. I was told that the update should be apparent within a couple of weeks.

John wrote:

> Oh, and @Staraang -- I did almost the same thing last year! I had a hotel credit

> card that I didn't use any more, but keep it because it has a free night stay every

> year for only a $49 annual fee. For some reason, I hadn't set up auto-pay on that

> card. So, my annual $49 fee came -- which was the only thing on the card -- and

> I didn't pay it. I didn't notice until a couple of months later!

> I then immediately paid it, set up autopay, and then called them. Because it was

> my only late payment, they were cool about it and removed all fees and the late report

> -- just like you. So, yes, always ask! Especially if it really is a rare occurrence!

Ha, glad to hear I'm not the only one who did this. And glad to hear it worked out for you as well. I just don't understand why they didn't reach out to me sooner. Do these banks not want their money? I think this is one of the pitfalls of having multiple credit cards that we have to be careful about especially when it's a card you don't use.

Feeb

* 7-Dec(#17)

Never use credit. Try your best to save and buy and do not owe. Even your car etc.

Your credit score is just a license to borrow more and get into trouble. You don’t really need it- unless you want to owe.

nonamesleft

7-Dec(#18)

Feeb wrote:

> Never use credit. Try your best to save and buy and do not owe. Even your car etc.

> Your credit score is just a license to borrow more and get into trouble. You don’t

> really need it- unless you want to owe.

I was telling someone this when I saw a furniture store that said 0 down for a long time. I said that if you can't afford the piece of furniture right now, then you don't buy it. That's it.

Feeb

* 7-Dec(#19)

It’s hard to not get roped into the credit grind when you’re young- but teach your kids that this isn’t the way. Earn, save, buy. Don’t borrow, owe and buy multiple times.

John

8-Dec(#20)

Feeb wrote:

> Never use credit. Try your best to save and buy and do not owe. Even your car etc.

I agree with this in general -- not using credit to buy things -- but for people who can do that, using a credit CARD can be an incredible benefit.

> Your credit score is just a license to borrow more and get into trouble. You don’t

> really need it- unless you want to owe.

Well, I would maintain that if people want to own a home, then most will be unable to do that without credit. And, mortgage rates are absolutely affected by credit scores. So, I disagree with this part.

You really can have the best of both worlds. You don't need to carry a balance and pay interest to establish a very high credit score.

So, again, combine the two things:

1. Always have the money before you buy things (with the exception of a house).
2. Use credit cards that you pay off immediately.

If you can actually stick to that, you'll end up in a good financial position, have a good credit score when it comes time to need a mortgage, and likely can get lots of credit card benefits along the way.

Porksta

8-Dec(#21)

You all should look into Buy Now, Pay Later. No interest, just make three payments after your initial down payment and you are all set!

benstylus

8-Dec(#22)

Porksta wrote:

> You all should look into Buy Now, Pay Later. No interest, just make three payments

> after your initial down payment and you are all set!

It's not much different than using a credit card, but you don't get any points or other benefits a card might offer. It is no interest, which is nice as long as you can make the payments.

The downsides if you fail to make a payment of a hit to your credit score, late fees, and potentially high interest rates are all still there, though.

You are still better off buying only what you can actually pay for.

Feeb

8-Dec(#23)

Credit is sort of like alcohol. It’s considered very normal to do it- even though it’s known to be less than beneficial to most. We live in a drunken credit crazed society. End cynical rant.

benstylus

8-Dec(#24)

Credit/debt is the basis of modern capitalism.

What is the stock market except companies borrowing against themselves by selling shares of stock to investors?

John

8-Dec(#25)

Feeb wrote:

> Credit is sort of like alcohol. It’s considered very normal to do it- even though

> it’s known to be less than beneficial to most. We live in a drunken credit crazed

> society. End cynical rant.

I tend to agree with that comparison because it all comes down to how much self control you have.

Some people become alcoholics and ruin their lives. Some people abuse credit and ruin their financial lives.

So, from the aspect if people using credit and NOT paying it off, I agree with you -- it has become way too "normal."

But for those with proper self control, using credit cards the way I do allows me to live a life better than I would otherwise. I just passed 800,000 Southwest points, for example. I've been flying for free for 8+ years now -- and I'll be able to fly for free well into retirement -- because of credit cards.

I've been able to go to Atlantis in the Bahamas twice for free (both the flights and the stay) -- because of credit cards.

I've stayed 5 days in Aruba twice for free -- because of credit cards.

My life is simply better because of my use of credit cards and I'm so very glad that I started doing that years ago.

Feeb

8-Dec(#26)

benstylus wrote:

> Credit/debt is the basis of modern capitalism.

> What is the stock market except companies borrowing against themselves by selling

> shares of stock to investors?

This is true. It’s the opposite of smart investing / savings. They’ve figured out how to tap you out slowly and forever.

Feeb

8-Dec(#27)

John wrote:

> Feeb wrote:

>> Credit is sort of like alcohol. It’s considered very normal to do it- even though

>> it’s known to be less than beneficial to most. We live in a drunken credit crazed

>> society. End cynical rant.

> I tend to agree with that comparison because it all comes down to how much self control

> you have.

> Some people become alcoholics and ruin their lives. Some people abuse credit and

> ruin their financial lives.

> So, from the aspect if people using credit and NOT paying it off, I agree with you

> -- it has become way too "normal."

> But for those with proper self control, using credit cards the way I do allows me

> to live a life better than I would otherwise. I just passed 800,000 Southwest points,

> for example. I've been flying for free for 8+ years now -- and I'll be able to fly

> for free well into retirement -- because of credit cards.

> I've been able to go to Atlantis in the Bahamas twice for free (both the flights

> and the stay) -- because of credit cards.

> I've stayed 5 days in Aruba twice for free -- because of credit cards.

> My life is simply better because of my use of credit cards and I'm so very glad that

> I started doing that years ago.

To an extent it’s a choice- that first drink or credit card. But there absolutely is a sickness in some that take holds once you get that dopamine drive. Addiction is a real thing.

John

8-Dec(#28)

Indeed. Exactly what I was saying. 👍

I think we just disagree on the "don't start" part. I don't drink, so I'm not a good judge of the alcohol example... But I think a person can use credit cards reasonably without being "addicted" provided that they learn about how to use them properly first.

Sure, some people with self control issues can fall victim to it -- just like alcohol or gambling. But I don't think that means that no one should use them responsibly.

benstylus

* 8-Dec(#29)

Based on what one sees on the news and on social media, one might be convinced that responsible people don't exist anymore, and thus credit cards are always bad.

Just go to youtube and type in "I bought a $1,000" or even "I bought a $10,000" and see the plethora of suggestions youtube makes to finish your search, and the equally ridiculous number of videos from people who purchase stupid crap for views.

Feeb

* 8-Dec(#30)

There is predatory intent to all lending. No one is loaning money because Jesus. Hell Jesus wants your tithes too.

benstylus

8-Dec(#31)

Feeb wrote:

> There is predatory intent to all lending.

I wouldn't go that far. There are some housing programs out there that aren't predatory. I've seen lots of municipalities and organizations offer zero interest supplemental mortage loans to be paid back when you refinance/sell your house or when you no longer live there. Typically those programs are for lower income people and/or are intended to revitalize certain areas that may be struggling.

I'm sure there are other very much non-predatory lending examples out there, those are just the ones I am most familiar with due to my job.

Feeb

8-Dec(#32)

That’s true. There are some subsidized programs that are paid for by someone else.

Staraang

8-Dec(#33)

@Feeb has valid points though because of prevalence of credit cards it's no longer conventional wisdom.

I'm big on earning credit card points. We also use credit cards because of the convenience. But after many years I question the benefits compared to the costs. I think the costs are more insidious than people realize. The reason is credit cards are a source of reducing transactional friction. Anything that reduces that friction is going to lead people in general to purchase more than they would have. This happens without people even realizing. In fact they wouldn't realize it unless they conducted an experiment on themselves where they went an extended period of time without credit cards and compared a similar period of time with credit cards.

But nobody is going to do that.

And so everyone thinks they've got great self-control and that there's no way they're getting tempted to buy crap they don't need. Unless you're truly disciplined in that you examine thoughtfully every purchase it's highly likely many of us are buying more than we need. But ain't nobody got time for that.

benstylus

8-Dec(#34)

We are on a video game trading site. All of us are buying more than we need.

Feeb

8-Dec(#35)

If you’re that disciplined you probably don’t need credit. There are few “needs” that require credit. A home will require all of the financing etc- but consumers still overwhelmingly finance way more than they should. If you’re living credit debt free except for mortgage then you’re a badass imo.

Feeb

8-Dec(#36)

benstylus wrote:

> We are on a video game trading site. All of us are buying more than we need.

We are mostly mentally immature large people. This.

benstylus

8-Dec(#37)

Feeb wrote:

> If you’re that disciplined you probably don’t need credit. There are few “needs”

> that require credit.

Credit isn't just for buying things and paying for it later (although good credit means you end up with more favorable terms in those situations).

Credit checks are often used by employers, landlords, utility/phone companies, etc.

If you aren't actively building your credit score, expect to have to pay bigger deposits and potentially lose out on some job opportunities.

Feeb

* 8-Dec(#38)

benstylus wrote:

> Feeb wrote:

>> If you’re that disciplined you probably don’t need credit. There are few “needs”

>> that require credit.

> Credit isn't just for buying things and paying for it later (although good credit

> means you end up with more favorable terms in those situations).

> Credit checks are often used by employers, landlords, utility/phone companies, etc.

> If you aren't actively building your credit score, expect to have to pay bigger deposits

> and potentially lose out on some job opportunities.

I’ve never had a credit check for a job. Trying to open a business was the one situation- but even they wanted a bank statement and written plan way more than they did a credit score. Definitely credit scores are ingrained in society- this is what I was trying to get to when I compared it to alcohol- we are convinced by the world that we must partake in. No credit score is not bad credit. I’m sure it’s ok with employers to ask for a credit check- but if you refuse or explain that you don’t use credit and they refuse to consider you for employment -very questionable. There are guides out there to show you how to live without a credit score if you choose.

I have a credit score and it’s fine. But I was much more reckless when I did those things. I’ve been credit free except my mortgage for a long time. If you’re responsible with it then great. The best way for me to guarantee I’m not beholden to it is avoid it.

bumsplikity

8-Dec(#39)

I just have a single credit card and I use it for every purchase possible, then at the end of each billing cycle I pay off the entire balance. Works perfectly for me

John

8-Dec(#40)

benstylus wrote:

> Based on what one sees on the news and on social media, one might be convinced that

> responsible people don't exist anymore, and thus credit cards are always bad.

I don't think I'd base reality on social media and many news sources.

The reality is that LOTS of people are responsible. Don't believe the hype.

> Just go to youtube and type in "I bought a $1,000" or even "I bought a $10,000" and

> see the plethora of suggestions youtube makes to finish your search, and the equally

> ridiculous number of videos from people who purchase stupid crap for views.

I'm not denying these people exist. I'm denying that they represent the norm at all.

John

8-Dec(#41)

Feeb wrote:

> If you’re that disciplined you probably don’t need credit.

Agreed. But that doesn't mean you shouldn't use it -- for reasons I explained above.

Could I buy everything with cash? Yes. Do I? No. Because, again, I enjoy my credit card convenience and benefits.

> There are few “needs” that require credit. A home will require all of the financing etc- but consumers

> still overwhelmingly finance way more than they should. If you’re living credit

> debt free except for mortgage then you’re a badass imo.

I pay mine off in full every month. So am I living "credit debt free" to you? Or not because I use a credit card even though I don't have to?

John

8-Dec(#42)

Feeb wrote:

> No credit score is not bad credit.

It is if you are trying to get a mortgage. It also is many times if you are trying to rent a place to live.

Porksta

8-Dec(#43)

If you do not have a history of managing credit, I would be wary about being the first to offer you some.

Feeb

8-Dec(#44)

John wrote:

> Feeb wrote:

>> No credit score is not bad credit.

> It is if you are trying to get a mortgage. It also is many times if you are trying

> to rent a place to live.

You do not need credit to buy a home unless you are borrowing. This is exactly what I mean by we’ve been conditioned to think credit is absolutely necessary. It is not. Apartment complexes and land lords (in my experience) will work with you if you come with a few months rent and show them your responsible bill payments. It’s certainly easier if they can just run a credit check- but it’s not mandatory across the board.

Feeb

8-Dec(#45)

Porksta wrote:

> If you do not have a history of managing credit, I would be wary about being the

> first to offer you some.

Most of us have a history of making timely payments- bills etc. you don’t have to have credit to document this.

John

8-Dec(#46)

Feeb wrote:

> You do not need credit to buy a home unless you are borrowing.

Well, no offense, but duh.

I thought we had both kinda agreed with our discussion above that a mortgage would be the one acceptable situation to buy before you had all of the money saved up?

> This is exactly what I mean by we’ve been conditioned to think credit is absolutely necessary.

To buy a house? Yes, I agree, we've been conditioned to think that because it is generally accurate these days. It would be very, very difficult for most people to rent AND save up enough money to buy a house with cash.

> It is not.

Agree to disagree, I guess.

> Apartment complexes and land lords (in my experience) will work with you if

> you come with a few months rent and show them your responsible bill payments. It’s

> certainly easier if they can just run a credit check- but it’s not mandatory across

> the board.

It is mandatory for many, many places to live. Might a landlord "work with you"? Maybe. In some areas. If you are lucky.

Feeb

8-Dec(#47)

Anyway. Point made and illustrated. Everyone teaches you that credit score is a reflection of your financial worthiness. Your bank account is definitely a more true reflection of your paying potential.

John

8-Dec(#48)

I will also add that, as a landlord, every applicant that we have ever "worked with" because they didn't meet the normal criteria -- has been a bad tenant that did not go well.

We now no longer "work with" any applicants. There are plenty others out there. I'm not wasting my time trying to find the needle in a haystack that has no credit because they are trying to live life differently than 99.9% of the population and wants to hand me moneys of their utility bills to try to prove that to me.

benstylus

8-Dec(#49)

Feeb wrote:

> John wrote:

>> Feeb wrote:

> |>> No credit score is not bad credit.

>> It is if you are trying to get a mortgage. It also is many times if you are trying

>> to rent a place to live.

> You do not need credit to buy a home unless you are borrowing. This is exactly what

> I mean by we’ve been conditioned to think credit is absolutely necessary. It is

> not. Apartment complexes and land lords (in my experience) will work with you if

> you come with a few months rent and show them your responsible bill payments. It’s

> certainly easier if they can just run a credit check- but it’s not mandatory across

> the board.

If it is a more desirable apartment complex, thr landlord can be pickier. If you have five applications and one vacancy, how do you decide who to drop and who to take?

Going for someone with great credit is a lot less effort than reviewing months worth of bills with another applicant who is trying to prove they are not going to be a liability.

John

8-Dec(#50)

Feeb wrote:

> Anyway. Point made and illustrated. Everyone teaches you that credit score is a reflection

> of your financial worthiness. Your bank account is definitely a more true reflection

> of your paying potential.

Yeah, it sounds like that sometimes, but often isn't. We've had a few applicants to rent who had no or bad credit but had lots of money in the bank. They usually offer to pay for a year up front. We used to take these many years ago when we were young and dumb also. The 3 times it happened, it went bad.

Turns out that people applying for an apartment with no or bad credit with enough money to pay for a year up front -- are drug dealers.

John

8-Dec(#51)

Oh, also, we had one Crypto Bro who we took because he could show a ton of money in the bank and literally showed me his crypto ownership.

He also paid for a year up front.

He also ended up having to leave early and move back into his parents house. Turns out when things went south, he kept throwing his money into a crypto scam to try to salvage the situation.
It all fell apart within the year.

(This isn't necessarily relevant to our discussion here. Just a Fun Fact about another person with no credit and plenty in the bank who still turned out to not be a good tenant that, in the future, we'd reject right at the start.)

Feeb

8-Dec(#52)

Surely you ask about employment? An honest person would be up front that they deal drugs - great tenant.

HybridCRoW

8-Dec(#53)

Tons of times... I learned hard way about credit cards.
At one point I was so excited to have one that I maxed it out in a short time and ended up not able to keep up on the payments at some point to pay it off.

Speaking of credit scores... I'm not sure how long ago they started doing it, but where I pay my rent online, they're offering the ability to affect your credit score when paying your rent... Anyone else who rents have had this offered??

I think it's a novel idea, but with how I get paid and what I've been trying to do since I started my new job in IT, I don't think I'll be able to keep the "positive" on the credit score for rent payments. This month was actually the first month I was able to pay the rent on time, pay off the SUV, and catch up on all my bills... so I maybe be able to keep the snowball rolling that I started with the SUV and start knocking out my other debts sooner... especially my student loans.

Feeb

* 8-Dec(#54)

I’ve seen experian offers a method to build credit based on paying rent or other bills. Supposedly you can add 24 months back pay for an instant 15 or so points.