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9 myths on how to build better credit

Build Better Credit » 9 myths on how to build better credit

All delinquencies are created equal
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All delinquencies are created equal

If you're in the unenviable position of having to miss a payment, choose carefully. Missing a mortgage or auto loan payment will ding your credit more than skipping a credit card payment will. "Those are more substantive debts, so they carry more weight in the credit score," Davies says.

Of course, missing a payment is a last resort. Pay the minimum payment to keep accounts current. To head off a catastrophe, contact a nonprofit credit counseling service that can help you work with your lenders to come up with a more affordable, temporary payment plan or another solution.


 

 

 

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