I am going to use the current Toyota recall situation as a perfect example. So whether it is a disagreement with an auto loan, credit card, or any type of account please make sure that you continue to make your payments on time. Your credit rating & fico score can be seriously hurt. Always treat your credit as priority number one because you want to make sure that you are able to get future credit when you need it. The credit industry is tightening their requirements. Some are closing down accounts because you have used more than half of your line of credit on other credit card accounts. There is one creditor that will not give you auto financing if all of your open & closed trade lines on your credit report are not a minimum of two years old. The credit industry is not what they used to be. One recent late payment can either cause you to be denied or have a higher interest rate. So please take care of your credit obligations.
Message Edited by CreditBob on 01-31-2010 09:28 AM
