Late Payment

dmc_uk

Hi - !st post - excellent site.
I have a Lloyds TSB Platinum Mastercard - I owe £4k on it & I am using it for the interest free over 9 months. I usually pay monthly payments online using my Lloyds TSB Platinum current account. I have just returned from holiday and have realised I had forgotten to pay my monthly amount. It was due yesterday on the 15th. I immediately sent a payment using my online facility. I have had no negative credit feedback before and am now worried that this late payment is going to go against me in the future. I am planning on getting a mortgage in the very near future and I am worried this will go against me. I have now set up a direct debit to pay an amount monthly.
Will this forgetfulness go against me? Thanks 4 any replies.

BONJOEY

why not phone lloyds tsb up and explain the situation, and that it was a genuine mistake ( i,e you forgot because you were on holiday, and have now set up a d/d), and to look as you have never made a late payment before, they might not charge you a late payment, or mark it late,

one late payment wont go against you, its only if you have more than one in a short period of time, or a default that will seriously affect your credit,
hope this helps xx

dmc_uk

Bonjoey - Thanks for that - I have just rung Lloyds TSB and explained - They said I would be charged £12 and there will be a mark against me.
Cheers - banked with them for 20 odd years and never even go anywhere near my overdraft. I leave a minimum of £4k in my current account to get the benefits of my Platinum Current Account. Cheers LLOyds TSB for great customer service.
Do you think if I rang again I could get the mark overturned. I'm not bothered about the £12 charge?
Thanks again for your quick reply.

bengal-stripe

Even more important: they might stop the free interest and charge the standard rate (or even higher).
Have you checked that the interest free arrangement will continue?

BONJOEY

its worth a try, ask to speak to the customer services manager, and explain about how long you have been a customer, and this is just one little mistake, admitadly on your behalf, but you were only a day late paying,

dmc_uk

I asked when my interest free date finishes and was told 4th November 06.
I am a bit miffed that they black mark you when it was obviously a genuine mistake. If they checked my history with my current account they would see I didn't pay in time because I couldn't afford it. I have more than enough in my current account to pay the full debt off at any time.

Cerenia

Its rare for banks to take off fees, no matter how long you've been with them- I was told there would be a mark against me for not paying my natwest card one month, and I explained I had recieved no statement so was unable to pay, had to complain to the person in charge, and they finally removed it. Even more fun was I sent a cheque on the 20th for a payment due by the 31st, and I got charged late payment as it didn't come out of my account until the 1st, yet I had plenty of funds o.O

Astaroth

Being realistic about things, banks are companies and are owned by shareholders. To keep shareholders happy you have to generate ever increasing profits.

Free banking was made possible by the application of rigid fees for people who break the terms and conditions of their free accounts whether it was due to a customers intentional actions or accident.

Even with the decrease in fees 3 of the big banks CEOs have recently stated that they believe that banks will revert to charging for accounts to compensate for the reduction in the late fee revenue stream - if banks went back to refunding charges in 50% of the cases this would simply be compensated by people paying to use other banks cash machines or annual charges for accounts etc.

In the OPs case - they, through their own forgetfulness, admit to making late payment so this should be marked and charged for however a single late payment on an otherwise fine credit history is not going to have a massive impact on future lending decisions.

doingwhatican

dmc_uk, I too forgot to pay my lloyds card. I just simply forgot. They rang me to say I have not paid, so I just paid them. I will have to swallow the £12. The mark on record will slip off your credit report eventually.