Did you know that your credit cards and your credit scores are often tied together? It is true, and there are several ways that this happens.
The manner in which you payor do not paythe monthly payments for your credit cards will certainly have a bearing on your credit score. If you pay on time, you will earn a better score as time goes by. On the other hand, if you are late on your payments, your score will go down. Two interesting facets of this, however, are time andfor lack of a better wordmercy.
Time and mercy come into play when you know that you cannot make the payments on your credit cards. If you know that you do not have the funds to make your payments, it is far better to contact the company and explain your situation than it is to simply ignore the payment. When you fail to make a payment and fail to contact the company, they simply have no idea what is going on with you. You may have a legitimate reason for not being able to make the payment, but they do not know that. When you miss a payment and have not contacted the company, you can all but expect to have that missed payment reported to the credit bureaus at about the 30 day mark. If you miss two...
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