Just a quick clarification if anyone knows...

hieveryone

If you miss a payment to your credit card (in this case, Barclaycard) and pay it two days later, should this be marked as one month in arrears on your credit file?

Or is there a rule which states it has to be 30 days late?

Where could I find the definitive answer on this?

Thankyou!

BugsyBrowne

hieveryone wrote: »

If you miss a payment to your credit card (in this case, Barclaycard) and pay it two days later, should this be marked as one month in arrears on your credit file?

Or is there a rule which states it has to be 30 days late?

Where could I find the definitive answer on this?

Thankyou!

If your credit payment is late then yes it's correct that the credit card provider states this on your credit report as late.

YorkshireBoy

hieveryone wrote: »

If you miss a payment to your credit card (in this case, Barclaycard) and pay it two days later, should this be marked as one month in arrears on your credit file?

It's not marked as "one month in arrears", it's marked as "your payments are up to one month in arrears".

Where could I find the definitive answer on this?

http://www.experian.co.uk/downloads/consumer/creditfileexplained.pdf (page 8)

reclusive46

Also bear in mind that many card issuers will not put a late payment up unless its several days late.

hieveryone

YorkshireBoy wrote: »

It's not marked as "one month in arrears", it's marked as "your payments are up to one month in arrears".http://www.experian.co.uk/downloads/consumer/creditfileexplained.pdf (page 8)

Thank you, although I can assure you that on my Equifax report it states 'one month in arrears'.

Experian_company_representative

Lenders have some discretion with this and most allow 7-10 days before classing a payment as late. But no hard and fast rule as data sharing is still voluntary, unless it's home credit.

James Jones