One missed payment on credit card - help please!

Emmy_

Hi all,

In December last year, I accidentally missed a credit card payment. I know I say accidentally, when really it was my own stupid fault for not checking!

I didn't have a direct debit set up for my credit card account, so when it was due I either paid it online or did telephone banking.

However, I missed a payment last year - I thought I had already paid it and by the time I realised that I hadn't, it was too late! I had to pay charges and obviously I paid the amount due as soon as I realised I was in the red!

I haven't missed any since and had not missed any before that. I had about £1000 on the credit card at the time.

What I would like to know is.....will this affect my future credit card applications and applications for loans? I intend to try for a loan soon for around £1500 as I'm moving in to my own house soon!

I have only missed one payment and I am still really annoyed at myself for doing so. :mad:

Thank you in advance for any advice at all you can offer me.

Emmy.

noah271007

If you have one missed payment on your credit file, it shouldn't affect your credit rating.

Emmy_

noah271007 wrote: »

If you have one missed payment on your credit file, it shouldn't affect your credit rating.

Thank you. Here's hoping it doesn't!

stephane_2

noah271007 wrote: »

If you have one missed payment on your credit file, it shouldn't affect your credit rating.

That will all depends on the potential lenders, some will take it into consideration when assessing your application, but should have little impact after 12 months.

chattychappy

I doubt whether anyone here could give a definitive answer as policies vary. Everything I've read suggests that one missed payment is unlikely to have an impact, especially after a few months have passed. The reality is that many people do forget the odd payment from time to time and to turn these people away could be turning away a great deal of good business.

Are you sure it was actually reported? Depending on the time the lender does its report, it might not show up - particularly if you only missed by a day or so.

Wickedkitten

It certainly matters to Halifax/Bank of Scotland.

noah271007

I think it CAN have an impact in the first 12 months.

never-in-doubt

noah271007 wrote: »

I think it CAN have an impact in the first 12 months.

No mate - one missed payment has absolutely no bearing on any credit file. It is pre-set at 2+ in any rolling 12 month period so say you had [1], [2], [0], [0] - this would be worse than say [1], [0], [0], [0], [0], [0], [0], [1]

Does that make sense? Basically the second string shows 2 late payments in 8 months but the first string shows 2 late payments in succession within 4 months....

Emmy_

Thanks very much all for the information you have provided me with, it's very much appreciated.

So, it looks like my missed payment won't really have any effect on my credit score after 12 months or so? That's great to hear. I shall not be missing any more payments, that's for sure!

Could anyone tell me which type of loan would be best for me and where I could get it from?

I bank with HBoS and have done since I opened an account with then when I was about 16, I am now 24.

I need about £1500 and would like to pay no more that about £60 a month in repayments. Is this possible?

Many thanks,

Emmy.

BLT_2

Based on an interest rate of 14.9% this would be 51 pounds per month over a 3 year period. The total amount repayable would be 1836 pounds

Emmy_

BLT wrote: »

Based on an interest rate of 14.9% this would be 51 pounds per month over a 3 year period. The total amount repayable would be 1836 pounds

Thanks. Is this with any specific bank?