Why is it so important that you make all of your credit and loan payments on time?
A) Late payment history lasts 7 years on your credit file.
B) The lender will be annoyed and not extend additional credit to you.
C) Late payment history lasts 10 years on your credit file.
D) Paying your credit cards and loans late just once will lead to bankruptcy.

Question

Quizplus · Accepted Answer

Late payments are reported on your credit file and can remain there for 7 years, negatively affecting your credit score and making it harder to obtain credit in the future.

Why Is It So Important That You Make All of Your