Gas Prices And Lower Credit Scores

Is it possible your credit score could be affected from rising fuel cost? The American Banking Association did a survey back in 2005 after the big hurricane season and found delinquencies on credit cards was rising.

There’s a lot of talk we’ll soon be seeing gas in the $4.00 per gallon range in some parts of the country. Consumers need to take a look at their budgets now and prepare for that possibility.

If more money is spent in one area of your budget like transportation another part of the budget needs a decrease. Make sure the area that does not get attention is paying the credit cards off each month.

Not paying or late paying on your credit cards shows up quickly on your credit score. Make sure you stay up to date and make your credit card payments on time.