- Centurion Member
- Posts: 179
- Joined: Fri Apr 12, 2013 4:47 pm
- Location: Indianapolis, IN
This depends entirely on *HOW* the credit card company is collecting the debt. If they turn you over to a collection agency, then yes, it will be reported to the credit bureaus and your other credit card companies will find out about it. Some won't take any action, while others will reduce your credit limit as a means of protecting themselves. If the credit card company you have the debt with collects it themselves on a payment plan, you will likely just have an over-limit notice placed on your credit profile, or at the worst, delinquent. If you pay it according to the terms they offer and re-establish a positive relationship with the creditor, you might be able to get them to forgive the negative report.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680