A re-age on a credit card is when the creditor will report the account up to date on the credit report. The creditor is allowed to bring the accounts up to date on the credit report one time in a 12 month period or two times within five years.

The debtor will usually have to agree to make payments that will fit their budget that the creditor will extend to them, in addition to making the special payment amount; the debtor usually will receive a lowered interest rate.

The credit card company will benefit from this arrangement because the debtor will be making payments on the account to bring it to a zero balance. The debtor will benefit because their credit score will increase because the creditor will report that they are making the required monthly minimum payment.

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