How does note paying your credit card affect your credit score?
I was just wondering how your credit score is affected if you miss payments on your credit card? And more specifically if they send you to collections? I normally pay all my cards on time but I missed one payment (I thought I paid it but I guess I didn’t) before I went travelling for a year and when I came back I had been sent to collections. It wasn’t too much only $100. Anyway, I’m jst wondering how bad this will be now?
P.S. I’m canadian not sure if it’s different in Canada?
it can’t be good for your credit score.
If you were late one time it shouldn’t be a big deal. Usually the accounts are kept in-house for at least 150/180 before it goes to a collection agency.