One missed payment on credit card - help please!

never-in-doubt

Emmy_ wrote: »

Thanks. Is this with any specific bank?

Yea, your bank like you asked - i.e. HBOS lol

remember the APR you get is based on your score so the rate given by blt is speculative, it could be higher or lower.

preable

Shouldnt have a major inpact

never-in-doubt

preable wrote: »

Shouldnt have a major inpact

I thought you were going to footy? Thats what you said over on Notice to Newcomers.... :cool:

It will have zero, nil, nada - effect - whatsoever

TastyTeeth

never-in-doubt wrote: »

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....

Although its not my thread, that's really good to know nid, thanks for the information.

never-in-doubt

TastyTeeth wrote: »

Although its not my thread, that's really good to know nid, thanks for the information.

No probs - just remember any more than 2 late payments in any 12 month period will be classified as adverse. Anything less than this will be ignored, so long as you do not have 2 lates in succession - in which case they would refer it for manual review.

BLT_2

never-in-doubt wrote: »

No probs - just remember any more than 2 late payments in any 12 month period will be classified as adverse. Anything less than this will be ignored, so long as you do not have 2 lates in succession - in which case they would refer it for manual review.

Have to admit NID I never understand the concept of late payments, thats what direct debits are for

never-in-doubt

BLT wrote: »

Have to admit NID I never understand the concept of late payments, thats what direct debits are for

I know what you mean but not everyone likes DD's - I pay mine manually and not by DD cos the funds stay in my account until 2 hours before the payment is due then I FP it across, yea it only makes me maybe 20p a month lol, but still that's a pint every year.... however when I go away or anything, I always pay in advance so as not to miss payments.

DD is not always the best course of action, certainly not by a lot of stozzers or money transfer folks that have reward accounts etc.....

Fantasy00

I missed a payment on my PDCL (career development loan). It was just the one payment, during a two year term. I explained to them that i forgot to put the money into the account, they took into consideration my perfect payment performance (7 months so far), and changed the 1 to a 0... They do help out, you just need to ask them. They won't bite.

BLT_2

never-in-doubt wrote: »

I know what you mean but not everyone likes DD's - I pay mine manually and not by DD cos the funds stay in my account until 2 hours before the payment is due then I FP it across, yea it only makes me maybe 20p a month lol, but still that's a pint every year.... however when I go away or anything, I always pay in advance so as not to miss payments.

DD is not always the best course of action, certainly not by a lot of stozzers or money transfer folks that have reward accounts etc.....

Yep, but i suspect that not many have that sort of organisational ability, I would certainly forget, and one late payment could wipe out that pint of beer in one foul swoop

For the average Joe on the street, like myself, I would certainly recommend DD's and preferably on the day that you get paid, that way you have a bill free month and everything in your pocket is yours.

Emma_whitnash

Hi Emmy, as general concensus says here it shouldn't make any difference. When did you notice you'd missed it? I've missed a couple in the past because I've missed the payment date (which is sooooo annoying), have standing orders set up now. Usually call to the lendor sorts it out.

As for the loan, I've just finished a very competitive one with the co-operative bank. Can't remember the interest rate but it was lower than anyone else. Have you checked out moneysupermarket.com?