Would canceling a cell phone contract go against my credit score, or prevent me from obtaining one later?
Sunday, July 26th, 2009 at
5:48 pm
nhrule asked:
I will pay the fees associated with canceling the contract.
I will pay the fees associated with canceling the contract.
Tagged with: Cell Phone • Credit Score • Phone Contract
Filed under: Credit
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probably.
since you signed a contract the contract has to expire or you pay what is owing for the remainder of the contract.
It was after all a contract
If you don’t pay what you owe, including cancellation fees, they will send it to a collection agency and it will go on your credit report. As long as you pay all charges and fees, its not a credit issue.
Assuming you are in the USA,
your credit score, FICO,
is concerned with a variety of your credit history,
spending habits, and expenditures,
the calculation of which is a closely guarded secret.
But, they are not concerned with your cancelling any contract,
unless you did so because of failure to pay, bankruptcy, etc,
and, even then, it is superfluous due to the non-payments.
Subsequent phone companies (or any utility for that matter)
would only care about your overall credit history,
not that you cancelled any contract,
except as described, above.