How a single credit card purchase can ruin your credit score
Share to twitterJuana Velosa , made sure to pay off her credit cards before leaving for a work trip. She received a surprise when she learned she owed 3 months worth of late fees and penalties.In April 2019, Juana Velosa was excited for her upcoming work assignment in Africa. As part of her job, she would be spending three months on the continent.
Her initial purchase was for $59.68, but it ballooned all the way to $169.99 due to three late charges and $7.31 in finance charges. In order to, she immediately paid off the full balance including the fees . Thinking this was now behind her, she moved on with her life. Velosa is frustrated because she claims she was never notified by the bank regarding the late fees or unpaid balance, and only found out when she coincidentally returned to the same store to make another purchase in August. If she wouldn’t have stopped in that day, the total balance could have easily grown to hundreds of dollars, without her realizing it.
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