Top 3 Ways Your Cell Phone Impacts Your Credit

    Are You At Credit Risk? 

    As you may know, credit reporting agencies collect all the data on your loans, lines of credit and credit cards to create your credit report and calculate your credit score.This information is then used by lenders—including mortgage lenders—to determine whether you’re a good credit risk.

    What many people don’t realize is that cellphone bill payments can also have an effect on credit rating.

    Nothing is off limits when it comes to credit report, so it is essential to pay your bills on time in order to optimize the calculation of your credit score. The information will get passed along to other credit agencies when missing scheduled payments. Any information submitted to a collection’s agency can affect you for up to seven years!

    Having a negative record with your cell phone provider can have ruin your chances in the decision process for getting approved on a load for bigger, more life affecting loans.  Plus increase your interest rates!

    -And who needs that headache?

    • Tom La Vecchia

      Founder of New Theory & X Factor Media

      Founder and Publisher of New Theory Magazine and Podcast. Serial Entrepreneur who loves wine, cigars and anything that allows to people to connect and share experiences.

    You May Also Like

    Top 10 Things Everyone Who Has Two Jobs Knows To Be True

    Having two jobs, also known as “juggling,” is becoming increasingly common. With underemployment and ...

    7 Grammar Mistakes We Should Never Make Again

    Even after so many years spent in school, we still find it difficult to ...

    8 Signs That You Need To Quit Your Job

    Have you been wondering if quitting your job or choosing a new career is ...