Terminate Cell Phone Contract

Early termination was contemplated at the start of the contract, so therefore the cellular provider wrote a clause into your contract that allows consumers to exit their contracts by paying a lump-sum. This should not be considered a derogatory mark on a credit report because it is not an indication of a delinquent payment.

Should not. Note my word choice.

I do not hold US cellular providers in high regard because I believe their contracts are one-sided in their favor. I believe their US oligopolies have retarded innovation and service, and resulted in prices that are higher than an open market would sustain. I am certain US officials in the cellular provider industry would disagree with that assessment, but I digress.

Because I do not hold US cellular providers in high regard, I am wary all will report an early termination to credit reporting agencies properly. However, do not let my jaded view of US cellular providers influence your decision to terminate a contract. Should a US cellular provider report an early termination as a derogatory item, dispute the listing.

I hope this information helps you

your credit report is only affected by whether you pay your bills. So if you pay them, its not a problem.

whether or not the contract is unfair is another thing. I believe that a law suit forced them to reduce the fee by how many months are left

Hi,

If you pay an early termination fee to get out of a cellphone contract will it affect your credit?

No, if you pay an early termination fee to get out of cellphone contract it won't hurt your credit score.

Only if you miss your payments it will hurt your score.

Thanks,

Aaron