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Is it better to skip a monthly credit card payment or...

not pay the full minimum payment? Let's say the minimum monthly payment is 200.00 and I only pay 100.00. Would either not paying or not paying as much be reported to one of the Credit Bureaus or companies?


Asked by Kim370 at 11:13 PM on May. 21, 2011 in Money & Work

Level 8 (267 Credits)
This question is closed.
Answers (8)
  • I would call and ask them if they are willing to work with you if you are able to make a partial payment. They may or may not. You may still get hit with fees, but at least you wouldn't be paying another month's interest on the full amount.

    I would be worried about them hiking up your interest rate. I think that they are more willing to try to work with someone who is willing to call, tell them what is going on, when and how much they will be able to pay, and when they will be able to resume their normal minimum payments.

    Answer by Mom-2-3-Girlz at 11:45 PM on May. 21, 2011

  • paying something is better than not paying at all.

    Answer by nepenthe429 at 11:14 PM on May. 21, 2011

  • I agree with the previous poster...there are some companies who are willing to work with you. They would rather you pay something than not pay anything. You may want to ask them if you could pay half now and the other half in the middle of the month (if you could afford to do that). I have found that if you make plans to pay them then they will sometimes hold off on reporting you to the credit monsters and I even had one who waived the late fee (I had to make a partial payment right then and this was a few years back). They don't always do that but sometimes you can find a nice person who is at least willing to try to work with you.

    Answer by Losha007 at 11:56 PM on May. 21, 2011

  • ~*BOTH*~ are going to get you reported... but they might not totally bend you over if you make a partial payment because than at least that shows effort on your part

    Answer by MommaClark3 at 11:14 PM on May. 21, 2011

  • minimum payment is minimum payment, if you dont pay it it shows upif you were 30 days late. I'd wait to see if I could pay it in full within 30 days from the due date, or pay the 100, just for organizational sakes, and for the fee and pay the rest in a couple weeks

    Answer by DomoniqueWS at 11:19 PM on May. 21, 2011

  • Call them for sure...they should work with you.

    Answer by mkdirector2011 at 6:20 AM on May. 22, 2011

  • Call and try to work out an agreement with the company.

    Answer by tspillane at 7:16 AM on May. 22, 2011

  • Do you have payment protection on your card.? We had it added to one of ours and when I called to cancel it they told me you get one free payment a year that they pay so I used that and then canceled it the next month. I thought it was only there if you lost your job so it was worth the few dollars extra at the time. Otherwise I would call and see if they can help. I closed one of my cards and they lowered the interest rate which dropped my payment in half.

    Answer by Kari126 at 10:50 AM on May. 22, 2011