Wrong direction for the credit rating, I believe it goes up since he did PAY and had to add some interest on it. So now you are making or giving money to the banks/credit companies and you now look more attractive for more credit. No outstanding credit or mortgage gives you a bad rating.
Read the book Super Sad True Love Story by Gary Shteyngart for a scary dystopian view on credit scores. Oh, and for those who like to rally against social media then there will be plenty for you to love (or hate) as well.
Consider that it is profitable for the banks issuing, or behind the issuance, of credit cards if a this happened. The interest rate on outstanding and any future charges could be jumped to 25-31% at least. So since creditors are the ones reporting this, and they and other creditors profit from higher interest rates, wouldn’t you think that there is an incentive for creditors of all sorts to find defaults and report anything like poor credit as soon as possible?
Alison84 about 13 years ago
Oh, and you’re going to hell for removing the tag on the mattress.
joe piglet Premium Member about 13 years ago
Wrong direction for the credit rating, I believe it goes up since he did PAY and had to add some interest on it. So now you are making or giving money to the banks/credit companies and you now look more attractive for more credit. No outstanding credit or mortgage gives you a bad rating.
reese828 about 13 years ago
Read the book Super Sad True Love Story by Gary Shteyngart for a scary dystopian view on credit scores. Oh, and for those who like to rally against social media then there will be plenty for you to love (or hate) as well.
Spyderred about 13 years ago
Consider that it is profitable for the banks issuing, or behind the issuance, of credit cards if a this happened. The interest rate on outstanding and any future charges could be jumped to 25-31% at least. So since creditors are the ones reporting this, and they and other creditors profit from higher interest rates, wouldn’t you think that there is an incentive for creditors of all sorts to find defaults and report anything like poor credit as soon as possible?
R0Randy almost 13 years ago
Is this comic supposed to be funny?