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
Charities do not report to credit bureaus. Your credit report and score is about creditworthiness. Charity donations definitely don’t fall into it.
Of course not. You can stop giving to your charity whenever you want.
And charities do not report to creditors.
For anything in the same info potential lender gets to see good luck.