MBNA affected my credit report (in a bad way)!

moks

I recently checked my Credit report and was astounded to find that MBNA has updated it stating that I missed a payment. This was due to confusion about having set up a direct debit for that credit card account.

I have had a credit card for 2 years now with them and this one that has affected the report was in addion to the one I already have. This was a few months ago, but now I have learnt that this is not good as I may get phone contacts and a mortgage declined due to this.

MBNA have refunded the interest charged and also the late payment fee of £12.00, but I rather have them remove that form my report. They have refused to change it!

What else can I do?! Thanks guys

oscar52

MBNA will not remove it as they have to report factual information.

However, ONE late payment will have little, if any effect on your credit report if all your other commitments are showing up to date.

moks

Thanks oscar52, I hope that this will be the case.

BugsyBrowne

moks wrote: »

Thanks oscar52, I hope that this will be the case.

Unfortunately it will have an effect when applying for credit,put it like this your application would of looked a lot better with no late payments rather than 1 late payment fact..

TFD_2

star-fire wrote: »

Unfortunately it will have an effect when applying for credit,put it like this your application would of looked a lot better with no late payments rather than 1 late payment fact..

Fact?

You struggle with facts usually Star Fire....

Do you know for sure that every lender has an issue with a single missed payment?

Credit scoring is all about comparing credit account conduct, etc. with historical information. And a single missed payment is more of an indication of an oversight than financial difficulties.

TFD_2

moks wrote: »

Thanks oscar52, I hope that this will be the case.

Now as for you.... you missed the payment. It was your fault. Really. Your credit record is just that - a record - so it has to be accurate. It shouldn't be tweaked depending on how hard you complain.

BugsyBrowne

TFD wrote: »

Fact?

You struggle with facts usually Star Fire....

Do you know for sure that every lender has an issue with a single missed payment?

Credit scoring is all about comparing credit account conduct, etc. with historical information. And a single missed payment is more of an indication of an oversight than financial difficulties.

Oh morning mr know it all (not)
End of the day i am stating your credit file will always look better to a lender with no late payments rather than a late payment,if you can not understand this TFD i suggest you stop giving advice..

izools

Right anyway, yes it is true that having a missed payment on your credit report is worse than having no missed payments.

But only to the extent that needing to blow your nose twice is less preferable than only having to blow it the once... it's an incredibly minor effect.

You probably won't get approved for any credit if the late payment is the "current" status marker, once the account is marked as back up to date you'll have little trouble, but should wait until the late payment is six months to a year old, after which I'd be gobsmacked if it had any effect whatsoever.

Don't worry about it, just don't apply for anything for six months, and make sure to check every single bill you ever receive as to whether or not payment will be taken by DD and you'll be fine

TFD_2

star-fire wrote: »

Oh morning mr know it all (not)
End of the day i am stating your credit file will always look better to a lender with no late payments rather than a late payment,if you can not understand this TFD i suggest you stop giving advice..

Sorry, c0cknose, I wasn't being a know it all. Just saying that you should stop telling people stuff like that, when you really don't have anything to basis your opinions on.

izools

star-fire wrote: »

Oh morning mr know it all (not)
End of the day i am stating your credit file will always look better to a lender with no late payments rather than a late payment,if you can not understand this TFD i suggest you stop giving advice..

Remember there are degrees. Obviously it'd look better without a missed payment, a plate would look better without a tiny scratch on the pattern but it doesn't stop people wanting to eat off it.

The actual effect of one single lone late payment on a credit file, and it is the effect that is what's relevant here, will be next to nothing whatsoever

oscar52

star-fire wrote: »

Oh morning mr know it all (not)
End of the day i am stating your credit file will always look better to a lender with no late payments rather than a late payment,if you can not understand this TFD i suggest you stop giving advice..

And I work for the company, so stand by my comment. Game over....