My friend's credit card got cancelled because he was not able to pay his monthly dues. He was out of the country for several months, he did however pay the balance and fees in full so does that mean his credit rating still gets affected negatively?
Yes, his rating will probably be affected for a while, because the consecutive missed payments will show up on his credit record. If potential lenders look at the end line and see that he cleared the debt, they may still be prepared to advance funds. I can't understand why your friend didn't just set up a direct debit to pay his bill while he was out of the country. He would have saved himself late payment fees, as well as the stain on his credit record.
