Will your credit score be affected if you miss a couple of payments to your charity?
by admin ~ April 25th, 2009 . Filed under: Credit .
Mr. Main Event asked:
Currently, I’m donating (via automatic withdrawal from my credit card) to a few charities. I was away for a couple of months and didn’t update my credit card info. As a result, I missed a few payments. Will this affect my credit in any way?
Currently, I’m donating (via automatic withdrawal from my credit card) to a few charities. I was away for a couple of months and didn’t update my credit card info. As a result, I missed a few payments. Will this affect my credit in any way?
*From my understanding, the only way your credit/FICO score will be affected is only if you borrow money from a creditor. But, since charity organizations aren’t creditors, I’m presuming that it will not affect my credit in any way. Am I correct?
Justine
April 28th, 2009 at 1:44 am
Charities do not report to credit bureaus. Your credit report and score is about creditworthiness. Charity donations definitely don’t fall into it.
April 28th, 2009 at 11:34 pm
Of course not. You can stop giving to your charity whenever you want.
And charities do not report to creditors.
May 1st, 2009 at 4:35 pm
For anything in the same info potential lender gets to see good luck.