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 can lead to bankruptcy.

Question

Quizplus · Accepted Answer

Late payment history can stay on your credit file for up to 7 years and negatively impact your credit score. This can make it harder to get approved for future credit or loans, or may result in higher interest rates if you are approved. It is important to make payments on time to maintain good credit health.

Why Is It So Important That You Make All of Your