Payment plan

[Anonymous]

Is it true that setting up a fixed payment plan with a credit card company will hurt my credit and/or credit score?  PLEASE HELP!

Thanks!

[fused]

Welcome to the forums! A payment plan with a credit card company in and of itself will not hurt your credit or credit scores. What might hurt your scores is how the CCC is reporting the credit card account. Can you give us some more details on your situation?

[Anonymous]

Thanks for the welcome....  Basically, I got a deal that I lower my APRs on 2 cc's by more than 20% total, and have a "fixed payment plan" with the CC compnay for 5 year pay off, but they told me "it was going to negatively affect my credit" because I had signed up to do the fixed plan with them....

Thanks again for the help!

[fused]

Not a problem! Have you checked your credit reports to see how this account is reporting?

[Anonymous]

What do you mean "how this account is reporting"?