Late Payment on NatWest credit card

maurice28

I have a NatWest credit card with a limit of £700 and a current balance of around £350. As this month was a particularly expensive month, I could only afford to pay £20 off on the card, and so did this over the Internet about a week before the bill was due.

Or so I thought. Received a letter today from NatWest detailing the 'default charge' on my credit card, i.e. a £12 late payment fee. Turns out the payment hadn't gone through (or equally possible, I thought I'd done it and I hadn't!) which means I didn't make a payment for the billing month of June.

As soon as I realised I made a payment, and this covered the minimum payment required. However, this equates to a week later than the June billing deadline. Will this result in a missed payment '1' being placed on my credit record? If so, what kind of difference will this make to my rating?

I have green '0' statuses for the last 18 months or so at least.

Peeky

nothing you can do to reverse the situation so take the hit and be good in the future.

mitrant

Yes, they will probably put a 1 on your credit file for this period.

However, don't worry unnecessarily about that. Lenders are interested in people's long-term potential for handling credit arrangements and most are aware that many people will occasionally make late payments. After 6-12 months this will not be a great issue for the majority of lenders, so providing you are not planning on taking out further credit agreements in the immediate future you should be okay.

Moggles_2

Might be an idea to set up a direct debit to meet the minimum monthly payment required.

That way, it's NatWest's responsibility, not yours, to make sure the monthly repayments get there on time

CocoPopsLover

Moggles wrote: »

Might be an idea to set up a direct debit to meet the minimum monthly payment required.

That way, it's NatWest's responsibility, not yours, to make sure the monthly repayments get there on time

I agree!!!

maurice28

Moggles wrote: »

Might be an idea to set up a direct debit to meet the minimum monthly payment required.

That way, it's NatWest's responsibility, not yours, to make sure the monthly repayments get there on time

Thanks for the advice! I'm hoping to have paid off the card in full in the next 2 to 3 months so hopefully won't need to do that in the future!

fozmcfc

I've internet banking with Natwest and have my credit card linked to my internet banking account.

Every month, I ask to pay whatever amount from my bank account onto my card and select the date when I want to pay. The money then leaves me account and that is reflected in your bank balance.

If you haven't got that setup, it might be worth adding your credit card to you online bank account. I would suggest it was less than a week if the payment didn't go through in time.

But if you made the payment enough days in advance to what is required for the payment to reach your account in time, then you have a claim to get your £12 late payment back.

CannyJock

fozmcfc wrote: »

I've internet banking with Natwest and have my credit card linked to my internet banking account.

Every month, I ask to pay whatever amount from my bank account onto my card and select the date when I want to pay. The money then leaves me account and that is reflected in your bank balance.

The best advice, as Moggles already said, is to setup a minimum payment DD and that way it's the card provider's responsibility to time the payment.

There's a post every other day from someone who didn't have a DD, missed a payment for whatever reason and then has to deal with it.