If you pay what your suppose to every month regardless of debt your credit stays in good standing and increases however your still in debt.
If you are referring to the monthly payments you make for a certain period in connection to a credit card loan, it is called monthly amortization.
There are four basic types of credit. Service credit is monthly payments for utilities, loans let you borrow cash, installment credit, and credit cards.
Credit Line payments are payments that you make monthly on a line of credit that you have with your local bank. Many line of credits are based on the equity in your home, but they usually charge much lower rates than a traditional bank loan.
The best way to lower one's monthly credit card payments is calling the card issuer and explaining why one wishes to lower the rate. Depending on the creditor they may extend the due date.
If the bills were overdue and you are making payments as the result of being 'dunned,' and the bills are not yet paid in full, it will reflect on your credit report.
There should be an address to mail payments to - on the reverse of your monthly statement.
Simply opening a bank account won't improve your credit, however if you take out a loan, and make payments on time, or if you have a credit card with them and make monthly payments on time that will help build your credit.
When looking to rebuild credit score after a bankruptcy, there are many different options you can consider. One of the best ways is to show responsibility in using a prepaid credit card. This way you will be able to show that you can make regular payments to cover the things you will need to purchase on a monthly basis.
To pay off debt yes, to make monthly payments no.
Bad credit remortgages can be used to stop monthly payments of a high interest or inflexible mortgage, which is a sweet deal for any adverse credit holder.
No. Cell phone companies do not report monthly payments to the credit bureau. They only check your credit for worthiness.
Interest fees vary depending on the credit card company. Most companies apply interest based on your credit score and credit history. To obtain a lower interest rate, increase your monthly payments or make payments more frequently. The more payments you make the lower your interest will be.