Help! Credit Card default help required :(

money_saving_fan_2

Hi hoping someone can help me as I'm actually worried sick...I've ALWAYS paid my credit cards on time, I have a direct debit AND standing order set up on all 3 of them to ensure I don't miss a payment...

I managed to clear one of my cards so cancelled the direct debit (and left the standing order) but have just found out I cancelled the WRONG MBNA direct debit online This has resulted in me missing/defaulting on 2 payments - January & Feb on one of my other cards.

The thing is the Standing Order payments (set amounts of £100 each month) have come out fine so I've basically missed the 2 minimum payments on the date due (total £10). My two standing order payments went through fine 3 days later.

I haven't received any notices from MBNA saying I've defaulted, and I've paid amounts within 3 days of the default happening. I've been charged a default charge twice AND now being charged interest, I can accept this but not the defaults that may appear on my credit score.

Can anyone tell me what my rights are and will it appear on my credit score?? I have an exemplary record and would be devastated if it appeared on there as I'm just in the process of buying a house.
I've since cleared the full debt from the card to ensure this never happens again...

MBNA have been pretty useless trying to help me. One rep said it shouldn't appear on my credit score but how do I know this will be true?

Please help!

thanks xx

Tixy

You'll possible/probably get some late payment markers on your credit file. But you won't get a default entry.
An actual default can only be registered after they have sent a formal default notice to you and given you time (14days) to bring your account back into its T&Cs.
Typically a default notice won't be sent until you are 3-6months behind with minimum payments.

izools

If MBNA received cleared payments into the account within 3 days of the due date I'd find it highly unlikely that this will show on your credit file atall.

Credit cards are more likely to register a late payment marker if the account is over 30 days overdue.

Also, default notices aren't served as a result of one or two barely-late payments, rather they are registered if the account holder doesn't pay a single penny towards the account for a good three to six months on the trot.

I wouldn't worry, it'll have nary an effect on your credit status, if any. Set up the Direct Debit again, make sure the account is up to date, and job done

You might get some peace of mind from obtaining a copy of your statutory credit report, too, just to see what has been recorded on the account. Like I say, being three days late, I doubt anything has been registered :beer:

oki25

You have to be 5 days late before MBNA report the late default.

money_saving_fan_2

oki25 wrote: »

You have to be 5 days late before MBNA report the late default.

I've just found out my feb amount was due on the 14th and my standing order ended up coming out on the 21st, so a week (7 days) late, not sure if that is worse?

thanks so much for all the detailed replies, it's really appreciated. I'm going to ring experian later and see if anything's been reported. A late payment I can live with, a default I can't.

Because I did pay within 7 days, does that mean I should try and apply for a refund on the charges? They've come to almost £70. They have offered to refund one of the late payment charges..but that's it.

thanks again - i'm feeling a tad calmer now!

Tixy

Sorry - for some reason I read 3weeks later instead of 3 days so my last response was based on that.

They wouldn't have to refund the charges, they can put them on after a day late if they choose - but as a first 'offence' if you go for the ask nicely approach they may waiver the fees.

I assume it takes a few days from your SO going out to when your CC account is actually credited with the payment? So if they payment is actually 7-10 days or so then a late payment may have been marked. Hopefully not.

izools

money_saving_fan wrote: »

I've just found out my feb amount was due on the 14th and my standing order ended up coming out on the 21st, so a week (7 days) late, not sure if that is worse?

thanks so much for all the detailed replies, it's really appreciated. I'm going to ring experian later and see if anything's been reported. A late payment I can live with, a default I can't.

Because I did pay within 7 days, does that mean I should try and apply for a refund on the charges? They've come to almost £70. They have offered to refund one of the late payment charges..but that's it.

thanks again - i'm feeling a tad calmer now!

A default notice will not have been issued for two slightly late payments. I garuntee you.