Payment one day late

**purplemoon**

Due to a slight oversight last week I was a day late in sending my credit card payment (direct payment from current acc) so it has now arrived a day after the due date and I've been charged a late payment fee

I'm not bothered about that so much, I guess I deserve it, although I will phone them tomorrow and see if they might waive it this once as I've been a good customer for a few years now and never yet missed a payment. But I'm worried now that this will be marked against me on my credit file, will it be? I've got a clean history so far so will be sickened if I've ruined it

I'm also wondering if I will get charged any interest next mnth too as a result? My payment was for £420 and was total amount due on last statement so how much would I have to pay?

Fahim_2

Yes, you'll probably get a mark on the report, a recent late payment can reduce your score by 50-100.

CLAPTON

unlikely to be marked on your credit report for only a day or so but why not set up a DD to pay the full amount off each month so you can never be late?

ariba10

CLAPTON wrote:

unlikely to be marked on your credit report for only a day or so but why not set up a DD to pay the full amount off each month so you can never be late?

Or set up a DD to pay the minimum each month and make an extra payment if and when you can afford to.

Mutton_Geoff

unlikely to be marked on your credit report for only a day or so

I don't agree. The scoring system probably has very little, if any, human intervention so the computer chip that applied the late payment fee will have marked your payment history card too.

The same happened to me with Barclaycard a year ago. I had always paid the balance off in full, on time, every month. One month I was out of the country without internet access around the payment date and it slipped my mind for a few days. They waived the charge but marked my record.

Recently when I applied for a Barclayloan from them, they hiked the interest rate from their advertised "typical 5.6%" to 7.7%. When I took it up with them, they said they went on credit checks (I've seen mine, its perfect apart from the one late payment with Barclaycard). They might have refunded my £20 but they wanted to charge me an extra £1,000 in interest over the term of my loan.

I've shredded the loan application, made other arrangements and am closing my Barclaycard account at the end of this month after 20 years with them.

YorkshireBoy

**purplemoon** wrote:

I'm also wondering if I will get charged any interest next mnth too as a result?

Yes, and maybe the month after as well. You could 'stop' the interest accruing by sending a payment now, which would create a positive balance on your account.

My payment was for £420 and was total amount due on last statement so how much would I have to pay?

Depends on the date of each of your transactions, as you only get your ~56 days interest free if you pay your bill in full by the due date.

Call_Centre_Monkey

You will almost certainly get a mark on your credit file I'm afraid, and it will show for what I believe is 6 years.

And the bank can't do anything about it unless it was them that made the mistake, so there's not much point asking them.

nomoneytoday

TBH a single late payment under 3 months doesn't have a large impact on applying for credit in the real world

Rafter

Remember that although you get a 'mark' on your file to record a late payment, it doesn't necessarily have any impact on your ability to make credit.

If the banks rejected or penalised every customer who has ever made a late payment they would find it very difficult to find new customers!

Each bank has its own 'scorecard' which will usually ignore one or two late payments.

What it won't ignore is repeated late payments, defaults and CCJs.

As for your interest payment, it is a bit of a lottery what you will get charged depending on the policy of your lender.

Some don't apply any receipts until the statement date, some have something called trailing interest which means you may be charged interest on items you have purchased this month too.

Based on what you have said and an assumed APR of 15% you should pay no more than £8, unless you have a particularly sneaky card!

Good luck

R.

Mutton_Geoff

TBH a single late payment under 3 months doesn't have a large impact on applying for credit in the real world

It caused Barclaycard to offer me a rate of 7.7% instead of their headline 5.6%, almost 50% higher and costing £1,000 in extra interest over the term of the loan. This was for one late payment in 20 years. BC only keep records for last 6 years so this single blemish cost me dearly!

I turned down the loan.

justmarried06

Hi there - I just wanted to post on whether a payment late by one day will show on a credit report - I've had a few payments late by one day over the last few months where MBNA kept moving the payment due date and the bank transfer not going through until a day after the due date - I requested a copy of my credit file last week and none of these 'late' payments show and everything is on a green light for that card.

HTH

JM