Introduction
Understanding Missed or Late Payments with BuildMyCreditScore
BuildMyCreditScore is designed to help you build a positive credit history by reporting your payment activity each month to the major UK credit reference agencies: TransUnion, Experian, and Equifax. However, like all credit-related services, missed or late payments can negatively affect your credit score. This article explains how missed or late payments are handled and how you can avoid any negative impact on your credit.
How Missed or Late Payments Affect Your Credit Score
If a payment is missed or made late, it can be reported to credit reference agencies and may impact your credit score. Maintaining timely payments is important to build and sustain a strong credit profile.
Tips to Avoid Missed or Late Payments
- Ensure your linked bank account has enough funds to cover your daily spending and recurring payments.
- Enable notifications in the BuildMyCreditScore app to receive timely alerts.
- Regularly review your account activity to spot any issues early and keep payments current.
Contacting BuildMyCreditScore Support
If you have concerns about missed or late payments or need assistance managing your account, reach out to BuildMyCreditScore customer support through the app or visit the Help Center at https://help.buildmycreditscore.com/hc/en-us for guidance.
Additional Resources
- Learn more about how BuildMyCreditScore works with your bank account: https://help.buildmycreditscore.com/hc/en-us/articles/9530875560476-How-does-BuildMyCreditScore-work-with-my-bank
- Top tips on linking your bank account securely: https://help.buildmycreditscore.com/hc/en-us/articles/9533881544732-Top-Tips-How-to-link-your-bank-account-with-BuildMyCreditScore
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