Save. The TracFone is a prepaid phone that allows users to decide what kind of plan they want. Those who use TracFones can buy phone cards and add minutes for calls based on their needs. If you receive an SMS on your TracFone and want to reread it, you can retrieve it by just clicking a couple of times on your phone.
How a default affects your credit score. Once a late payment goes past 120 days it is considered to be in default. A default not only causes a further drop in your credit score, but it also signals the creditor that itâs time to send your account to a collections agency.
Those in the range of 550 to 599 have a 51 percent chance of defaulting on loans, while those between 600 and 649 default 31 percent of the time. Lenders therefore consider you a moderately high risk. One of the effects of your credit score is you may have some trouble finding loans when you need them.