Tricky payment question!

punk_beatz

Or maybe it isn't that tricky.

I missed a credit card payment a couple of months ago by 7 days. I've had the card 6 years and pay it in full every month. I thought I'd paid it and got my new statement in the post and realised I had missed it. I called them and grovelled a bit and paid it online that day.

On Experian, my account hasn't had a late payment marker applied and the current month is showing fine. The month before, the month I missed the payment, is also green and reads '0'. However, it does say my balance that month was £89, and the amount that I paid was £0 and that £0 was my balance after my payment. Basically when I paid it late I wiped out everything due on the card, even for the next month.

If I'm applying for a mortgage will this be called into question? Technically I haven't missed a payment according to the system, but if they look at the figures they can see I paid £0 that month. My credit report is otherwise excellent.

Any thoughts?

shiny76

I wouldn't worry about 1 minor blemish on my credit history if I was applying for a mortgage. Your previous history of paying it all off and not missing payments should counter any negative view from that one oversight

NAR

I agree, a missed £89 total payment (with probably min £5) isn't going to raise too many eyebrows.

YorkshireBoy

punk_beatz wrote: »

Any thoughts?

Direct debit doesn't "forget" to make a payment. Try it.

Many providers report account status as at statement date. You were perhaps fortunate that your card has a good bit less than 56 days interest free*, otherwise 7 days may have been too long.


* In such as case the next statement is produced only 3-4 days after the previous statement's payment due date.

punk_beatz

Cheers guys, appreciate the opinions.

YorkshireBoy - I set up the DD as soon as I realised I'd missed it. I should have set one up before but never did because I paid my account like clockwork and always in full (I never spend what I can't pay next month), but it doesn't hurt and I should have sorted it because I wouldn't be here otherwise.

I realise I've been very lucky - 7 days late and not reported is a minor miracle in my opinion.

Does a lender have the right to ask you to explain what something is about, such as if they saw that I paid £0 but it wasn't marked as late?

YorkshireBoy

punk_beatz wrote: »

Does a lender have the right to ask you to explain what something is about, such as if they saw that I paid £0 but it wasn't marked as late?

I can't imagine a mortgage lender will delve that deeply into it. So long as your payments are "up to date", as denoted by a '0' on your credit file, they'll be happy.

I think you're worrying unnecessarily.

punk_beatz

Yeah you're right - I have been known to over-analyse!

When you say it should have a '1' on my file, doesn't that mean the payment is late by up to a month? My accounts all have 0's on them, denoting I've paid them all on time.

chanz4

YorkshireBoy wrote: »

Direct debit doesn't "forget" to make a payment. Try it.

Many providers report account status as at statement date. You were perhaps fortunate that your card has a good bit less than 56 days interest free*, otherwise 7 days may have been too long.


* In such as case the next statement is produced only 3-4 days after the previous statement's payment due date.

does if its vodafone

YorkshireBoy

punk_beatz wrote: »

When you say it should have a '1' on my file, doesn't that mean the payment is late by up to a month? My accounts all have 0's on them, denoting I've paid them all on time.

You're quite right, sorry. I've amended my post above.

YorkshireBoy

chanz4 wrote: »

does if its vodafone

Sorry, what "does"?