How to fix a 'past due' on your credit report

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A "past due" status on your credit report is definitely bad news. but it can be salvaged with the following steps.

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You get a "past due" status on your report when you miss paying the minimum balance on your credit card.

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This usually happens when you cross the grace period and the last payment due date on your credit card bill.

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Fix it by making future payments on time and paying off any interest charges and late fees that have accumulated.

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Once you clear these payments, your credit card issuer will report your "on-time" status to the credit bureaus.

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If your issuer has raised the APR due to a missed payment, it will take you around 6 months to return to normal.

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If you can't afford to make the minimum payment on time, talk to the biller. They may give you alternate options.

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Some lenders may transfer past due amounts to your credit line balance to help you sort this on your report.

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You can avoid all this by making payments on time. If you can pay the balance in full, you can improve your credit score too.

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