Comments for 1st National Processing

Comment on How bad is missing two credit card payments on credit report.? by Chico

Chico — Tue, 21 Feb 2012 20:24:17 +0000

Very bad. It comes high in the list of things not to do if you want a good credit rating.

And banks remember your ‘sin’ and share the info with other banks for about Four 6 years.

Comment on How bad is missing two credit card payments on credit report.? by BungalowMo

BungalowMo — Tue, 21 Feb 2012 20:18:58 +0000

Pay it immediately. I’d also check your reports & if you have late posts for this acct, call & see if they can do a 1 time *late* removal.

Just mention what happened. If you have had a clean history on this card for five years, they’re very likely to do this favor for you.

The last thing you want is a brand new negative showing on a clean report.
___________
since you asked how bad is it? A brand new thirty or sixty day late poist can drop your FICO scores drastically. I ran the simulator on my Equifax FICO. Missing 1 payment on a clean report can drop my 728 down to a range of 615 to 650.

In other words…it’s a score killer!

Comment on How bad is missing two credit card payments on credit report.? by John_B

John_B — Tue, 21 Feb 2012 20:11:00 +0000

How does 1 become confused when 1 pulls a credit card out and uses it? Then further how does 1 become confused when the bill for the 1 they THOUGHT, yeah right, they used doesn’t reflect the purchases?

Pay it off and then don’t use credit until you can figure out a way to not become confused.

Comment on How bad is missing two credit card payments on credit report.? by Use_Your_Noodle

Use_Your_Noodle — Tue, 21 Feb 2012 20:05:04 +0000

If you can have the balance paid immediately, go PAY it online NOW!

The thing is, being sixty days delinquent has already occurred and been reported on your credit, so, that has hurt your score significantly. You will have to probably show more than a year of on time payments (sometimes up to two years) to have this negative not impact your score and report so much. It will remain there for 7.5 years though.

The thing that is odd, is, how did you not know what card you were using? How many cards do you have that you’d pick the wrong 1 out of your wallet? LOL

Fix it now to alleviate the damage that has been done. Hopefully, they did not cancel your account.

Comment on Which bill should get paid first? Car Insurance or last credit card debt payment? by STEVEN_F

STEVEN_F — Tue, 21 Feb 2012 00:01:21 +0000

Anything ALREADY in collections is automatically your LAST priority. If you have to default an anything, credit cards are the first thing to default on.

Comment on Which bill should get paid first? Car Insurance or last credit card debt payment? by Rodolfo_C

Rodolfo_C — Mon, 20 Feb 2012 23:57:40 +0000

You should pay your car insurance first since it involves more risk and liability. Also if you get pulled-over by the law enforcement you’d definitely get a ticket. Your credit card is already past due for over thirty days, since lateness gets reported every thirty days, it doesn’t make a difference paying now and waiting a few more days.

Go ahead and pay your insurance, it will also give you peace of mind!

Comment on Which bill should get paid first? Car Insurance or last credit card debt payment? by rowlfe

rowlfe — Mon, 20 Feb 2012 23:53:43 +0000

Car insurance, or do not drive…

OK, my auto insurance has NO GRACE PERIOD. If it is NOT paid by midnight of the last day of the coverage period, it cancels! You MAY have already LOST your insurance. Call your agent to see the status. NO driving if your insurance has lapsed or you could get into even hotter water…

Pay the insurance immediately, and the rest if any is left over, goes to the credit card.

Comment on Which bill should get paid first? Car Insurance or last credit card debt payment? by Matt

Matt — Mon, 20 Feb 2012 23:52:06 +0000

If you have no penalty for not paying your car insurance i would pay your credit card first so you dont collect more interest.

Law enforcement will usually let you go if you say you forgot to pay your insurance. Lets just hope you dont get in a car accident with out your insurance.

Its a risk. If you pay your car insurance youll have added interest. If you pay your credit card you might get in a crash and risk paying more for your car repair.

Good luck weighing out the pros and cons.

Comment on I do not comprehend credit card payments? by Jeff_H

Jeff_H — Mon, 20 Feb 2012 19:17:35 +0000

MOST credit card companies like you to only pay a few hundred dollars per month because they get to add on an excessive amount of interest. Your credit card statement will have a minimum amount due each statement period. As long as you pay that on time, your credit will be okay.
You’d be much better off to pay them off when the bill comes even if you must borrow from a credit union or bank.
Double check the terms that came with your credit card or call your customer service to ask for more detail.
Now IF your credit is good, look for offers of NEW credit cards which have several months of no interest a (0% interest) and pay you to get the card and use it for such large purchases as you are asking about.
Again it is VITAL that you comprehend the credit card terms or you will pay excessive interest and/or fees.

Comment on I do not comprehend credit card payments? by Jaqui

Jaqui — Mon, 20 Feb 2012 19:09:33 +0000

You would be expected to pay off the minimum payment (it’s different with every credit card) and then the rest of the balance will be charged with interest.

So say you have $6000 balance and your minimum payment is $50. You pay off $50 which leaves your balance with $5950. If your interest rate is 8%, you’ll end up owing $6426 on your balance.

So at the end of it, if you make the minimum payment, your credit card score won’t suffer in the short term but your wallet will.

In the long term, your credit score can suffer if your balance exceeds the amount of money you have available for purchases on your credit cards. For example, if your limit is $10,000 and you spent $6,000…you will most likely see a small drop in your credit score after about a month or 2 although it differs.