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How does interest on credit affect your ability to spend in the future?
Wiki User
∙ 12y ago
Then your credit can be high enough so that you are spending more money on credit interest than you can keep up with, there for, you are losing money
Wiki User
∙ 12y ago
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Do late payments affect a credit score?
Yes, they will both reduce your credit score and impact future payments on that card (e.g. increased interest rate, late fee charges).
How does defaulting on a car loan affect your future credit?
Any default on any loan will damage your credit in the future.
If your credit card payment is due on the 8th of each month and they received payment one day late on the 9th would that affect your credit to buy a house in the near future and damage your credit?
No, it will not affect your credit. You will probably have to pay the late fee and your interest rate could go up. But legally, creditors can only report you LATE if you are at least 30 days past due.
If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?
Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports.
What are the advantages and disadvantages of credit card?
The advantages of a credit card is you can buy things that you don't have the money to buy. The disadvantages of a credit card is that you have to pay it off with interest in the future.
Do late payments affect a credit score?
Yes, they will both reduce your credit score and impact future payments on that card (e.g. increased interest rate, late fee charges).
Will a foreclosure on your credit report affect your ability to get student loans in the future?
Absolutely. Your credit score affects all aspects of lending...approval/interest rate etc. If a bank/creditor sees that you have forclosed on a home, they will be less likely to lend you money especially unsecured money like for a student loan.
How does defaulting on a car loan affect your future credit?
Any default on any loan will damage your credit in the future.
How does compound interest affect the future value of an investment?
Increases
What is a form of loan ability to buy goods based on future payment?
Credit
If your credit card payment is due on the 8th of each month and they received payment one day late on the 9th would that affect your credit to buy a house in the near future and damage your credit?
No, it will not affect your credit. You will probably have to pay the late fee and your interest rate could go up. But legally, creditors can only report you LATE if you are at least 30 days past due.
What effect do interest rates have on the calculation of future and present value How does the length of time affect future and present value How do these two factors correlate?
What effect do interest rates have on the calculation of future and present value, how does the length of time affect future and present value, how do these two factors correlate.
If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?
Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports.
What are the advantages and disadvantages of credit card?
The advantages of a credit card is you can buy things that you don't have the money to buy. The disadvantages of a credit card is that you have to pay it off with interest in the future.
Will your husbends credit be hurt from your past student loan even if you weren't married?
No. Credit obtained as an individual does not affect a future spouse.
Does co-signing effect the ability to get your own loans or student loans in the future?
yes if they default it will hurt your credit yes if they default it will hurt your credit
Does co signing effect the ability to get your own loans or student loans in the future?
yes if they default it will hurt your credit yes if they default it will hurt your credit
