Whoops! Forgot to make a peyment...

BertieMeldrew

... what happens?

I just realised that I forgot to make a payment (even minimum payment) on one of my cards! Missed by about four days.

What happens?

Rafter

Depends on the lender.

If you are really lucky they will waive the fee (£20-£25) without you asking.

If not, give them a call and ask them to waive it, if necessary tell a little white lie that the statement must have got lost in the post.

While you are on the phone ask them for a direct debit mandate so you can pay the minimum balance automatically. That way no risk in future.

The one missed payment will show up on your credit rating, but is unlikely to have any impact on your ability to get credit in the future.

Good luck

R.

grumbler

Plus, if you use the card for purchases and normally pay balance in full, you lost usual up to 50-60 days interest-free period on purchases for next billing period. See your T&C ...

The_Boss

Remember though, make the late payment now! Better to pay it late than not at all.

BertieMeldrew

The_Boss wrote:

Remember though, make the late payment now! Better to pay it late than not at all.

Tx... yup... have done... as soon as I realised...

aliasojo

Must be something in the air Bertie.

See here....http://forums.moneysavingexpert.com/showthread.html?t=164355

nuttyrockeress

If you get paid monthly and prefer not to pay via DD I do/did the following

Called my card company to change the payment due date to 5 days after my pay day.

On Pay day, I know go to online banking and make payments to each company (card, catalogue etc)

This way, I know I always have the money to pay out and getting paid reminds me that I need to make payments.

Ed_Gain

Hi

I missed a payment for the first time in January - it's a black horse platinum card and the late fee was £20. I phoned up as soon as I realised, before the statement even came through and was totally honest and just said that I forgot.

They waived the £20 charge, no questions asked, although I was charged interest which wasn't a lot. I was also told that this wouldn't go on my credit record either, which was the most important thing to me.

You should note that, if you're on a 0% deal, the rate is cancelled when you miss a payment - black horse were good enough to re-instate the deal for me when they refunded the late fee.

hope that helps

-Ed