Stupid mistake

1stdayofmylife

I have an MBNA credit card with a 0% balance transfer on it. However I hav realised this evening my payment was due by Monday. I have paid it now but obviously this will not clear in time. I understand from what I have read I will lose the 0% deal (I have the money to pay the account off in full so will do this).
But my question is how will this late payment of one or two days affect my credit rating?

Thanks for your help and I know I have been very stupid.

1st day

exel1966

It will all depend how you paid as to whether it gets there on time.

MBNA accept faster payments so if you sent it directly from your banks online banking it will.
If however you paid it using the MBNA site it won't as that will take 2-3 days.

1stdayofmylife

Thanks for that. I paid on the MBNA site, but if I made an extra payment through my bank now, do you think that would work, or is it too late?

izzieuk

Hey. My payments usually take about 2-3 days. Although that is a different bank, I think it is standard.
However, I do not think it will adversely effect your rating dramatically, it may just be a very slight dip in your good standing. Also, most banks are open 7 days a week so you could ring and ask?
You can always check your credit report in a month or so?
I wish I could have been more helpful.

ganonman

Although they often say you will lose the 0% deal if you don't make you payment on time, often I've found this hasn't happened if it's only happened once. Try and pay in a way that it will get there on monday, but failing that, hopefully you'll still be fine.

julie2710

I'm not sure it will have much of an impact on your credit rating if any tbh. You need to be marked by the credit card company as a late payer and even if the payment was a day or two late this won't normally happen.

As far as your 0% rate is concerned. I'm not sure how long you have had it? If yoiu have had that rate for a while and have always paid on time then I wuld give them a call and tell them you've been away or received the bill late and apologise. Quite often they will reinstate your 0% rate if they feel you are genuine. I did this a little while back when I did exactly the same as you. Good luck

izzieuk

I had to set up a direct debit cos I was such a goon and forgot once, I didn't dare do it again! That might be an idea for future?

1stdayofmylife

As far as your 0% rate is concerned. I'm not sure how long you have had it? If yoiu have had that rate for a while and have always paid on time then I wuld give them a call and tell them you've been away or received the bill late and apologise. Quite often they will reinstate your 0% rate if they feel you are genuine. I did this a little while back when I did exactly the same as you. Good luck[/QUOTE]

Thanks for this, might give it a go and see what they say. I have had it about 6 months with another 4 months to go. So it is worth a try; I would rather have the money in my savings account so hopefully everything will be ok.

Many Thanks to everyone that has offered me advice. I will hopefully sleep a bit better tonight.

starson79

Ah I did the same thing with my Virgin card when I had that. I phoned them up - I wish I could remember why it happened or what I said. But basically - it was the first time that had happened - it was pretty much within the first months of account opening. I spoke to person in callcentre - and they waivered it. So I didn't lose my promotional rate after all. I just agreed it wouldn't happen again!
(Yes Officer, Sorry Officer - I'll try my best Officer)

So if you have to , call them and explain your good intentions and they'll probably let it go.

Good luck - happy debt-riddance to you.

chattychappy

(deleted... see my later post)

oscar52

Bit late on this now, but unless this is a new account, you wont get your rate back. You may get a lower one (lower than standard rate for the remainder of the term) but not the 0%.

As for the late payment, as long as the payment credits your account within 5 days of the due date, this will not reflect on your credit files.