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    • um85
    • By um85 18th Apr 17, 2:25 PM
    • 32Posts
    • 1Thanks
    um85
    Confused with dates and paid too early, is it worth putting in a notice of correction
    • #1
    • 18th Apr 17, 2:25 PM
    Confused with dates and paid too early, is it worth putting in a notice of correction 18th Apr 17 at 2:25 PM
    I know I should probably do a direct debit but I prefer to pay every month. last month I paid my CC too early by a few days and this month got a note saying to call in. We resolved it over the phone and everything is clear with the lender.

    The problem is they told me they have to report to their credit agencies (equifax, experian, call credit??). I've never had any issues or late payments ever, and have a mortgage, car loan and a some high limit credit cards and have an excellent credit score with nothing negative on there.

    I'm wondering if it is worth putting in a notice of corrections with the 3 credit companies or if I should just leave it and hope it doesnt make it onto their reports? I've heard that adding a notice of corrections takes you out of the automatic approval group as someone has to read your report.

    Do I have anything to be worried about with one missed payment
Page 1
    • zx81
    • By zx81 18th Apr 17, 2:36 PM
    • 11,208 Posts
    • 11,168 Thanks
    zx81
    • #2
    • 18th Apr 17, 2:36 PM
    • #2
    • 18th Apr 17, 2:36 PM
    No. For one late payment, a NoC will simply mean that you'll never get an easy acceptance ever again.

    Just stick to paying in line with the terms of your card in future.
    • um85
    • By um85 18th Apr 17, 2:59 PM
    • 32 Posts
    • 1 Thanks
    um85
    • #3
    • 18th Apr 17, 2:59 PM
    • #3
    • 18th Apr 17, 2:59 PM
    No. For one late payment, a NoC will simply mean that you'll never get an easy acceptance ever again.

    Just stick to paying in line with the terms of your card in future.
    Originally posted by zx81
    Great thanks for confirming this and for the tip. I was getting a little nervous as I've never had this happen before.

    Could there be a chance that this first infraction wouldnt get noted if I settled with them instantly?
    • zx81
    • By zx81 18th Apr 17, 3:06 PM
    • 11,208 Posts
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    zx81
    • #4
    • 18th Apr 17, 3:06 PM
    • #4
    • 18th Apr 17, 3:06 PM
    Maybe. Depends on when they report, and how long the payment was overdue.

    But I really wouldn't worry either way. As long as you're not completing on a mortgage this month and you don't make a habit of it, it'll have little impact.
    • um85
    • By um85 18th Apr 17, 3:09 PM
    • 32 Posts
    • 1 Thanks
    um85
    • #5
    • 18th Apr 17, 3:09 PM
    • #5
    • 18th Apr 17, 3:09 PM
    Maybe. Depends on when they report, and how long the payment was overdue.

    But I really wouldn't worry either way. As long as you're not completing on a mortgage this month and you don't make a habit of it, it'll have little impact.
    Originally posted by zx81
    Thanks @zx81 appreciate the feedback, i wont worry about it so much.
    • Ben8282
    • By Ben8282 19th Apr 17, 2:06 AM
    • 1,683 Posts
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    Ben8282
    • #6
    • 19th Apr 17, 2:06 AM
    • #6
    • 19th Apr 17, 2:06 AM
    Slightly confused about what happened here.
    You say that what happened is a result of you paying the card a 'few days' too early.
    When a statement is issued there is normally a gap of around 3 weeks between the statement date and the payment due date. In order for you to have paid 'too early' you must have in fact paid a few weeks too early rather than a few days too early in order for the payment to have been received before the statement was produced and the payment applied to the previous statement period.
    You also say that you don't pay by direct debit as you prefer to pay every month. What frequency do you imagine direct debits are taken if not monthly? I assure you they are not taken weekly or annually!
    • Dobbibill
    • By Dobbibill 19th Apr 17, 7:27 AM
    • 2,096 Posts
    • 3,221 Thanks
    Dobbibill
    • #7
    • 19th Apr 17, 7:27 AM
    • #7
    • 19th Apr 17, 7:27 AM
    One late payment and it's impact will lessen with time and although not ideal, it's not going to cause the chaos you imagine.

    Even though you've said you prefer to pay manually, I would consider setting up a minimum payment by DD just to prevent this type of error in the future. It will also act as a prompt for the manual payment and at least avoid any late payment markers.
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    • um85
    • By um85 19th Apr 17, 10:32 AM
    • 32 Posts
    • 1 Thanks
    um85
    • #8
    • 19th Apr 17, 10:32 AM
    • #8
    • 19th Apr 17, 10:32 AM
    One late payment and it's impact will lessen with time and although not ideal, it's not going to cause the chaos you imagine.

    Even though you've said you prefer to pay manually, I would consider setting up a minimum payment by DD just to prevent this type of error in the future. It will also act as a prompt for the manual payment and at least avoid any late payment markers.
    Originally posted by Dobbibill
    Thanks for belaying my fears a little Dobbibill, I suppose i am a little over worrying. I've just moved into a house so still have a few reasons to apply for credit for various home refurbishment/renovation items.

    And actually thats a great idea, I never thought of setting up just the minimum payment and use that as a prompt to make my regular payment thank you!
    • joedenise
    • By joedenise 19th Apr 17, 2:52 PM
    • 4,751 Posts
    • 31,602 Thanks
    joedenise
    • #9
    • 19th Apr 17, 2:52 PM
    • #9
    • 19th Apr 17, 2:52 PM
    If you only make the minimum payment by DD and then make the rest of the payment later you will end up incurring a little interest and the DD is generally taken on the last day for due payment. If you intend paying your card off every month then why not just make it for the full payment?

    Denise
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