Late Payment Fee

yorkie18

Hi everyone,

I'm hoping someone can help me. I've just been going through my credit card statements for this year and I've noticed that I have been charged a £12.00 late payment fee back in July. I know I should be checking my statements more carefully and have noticed this at the time but, my problem is, I did make a payment in July but it was 1 day before the statement was generated. As such I have been charged for not making a payment that month (even though as far as I am concerned, I did). I can swallow the £12.00 because I should have waited for the statement to be generated, but what about the affect on my credit rating? Is this reversible by the bank or will it sit on my credit file until the time has passed when it no longer shows?

Sorry this is a bit of a long winded question!

Thanks in advance.

Gerson2k

OP I'm guessing you haven't checked your credit file to confirm if your lender has posted a late marker to your file?

If we assume that they have then you can talk to your CC and they *may* refund your late charge as good will, but I can't see them reversing the late marker as are reporting the facts as they stand.

TBH if just one late marker then I wouldn't worry about it too much.

yorkie18

Thank you. This is the first time I've ever received a late payment charge, I always pay on time, always more than the minimum payment. It appears the bank have counted it as additional payment of the previous month instead of the actual payment for the current month. I've contacted them and I'm waiting for them to come back to me. I just wanted to make sure this isn't going to have a huge impact on my report.

Thanks for your help.

Wheres_My_Cashback

yorkie18 wrote: »

Hi everyone,

I'm hoping someone can help me. I've just been going through my credit card statements for this year and I've noticed that I have been charged a £12.00 late payment fee back in July. I know I should be checking my statements more carefully and have noticed this at the time but, my problem is, I did make a payment in July but it was 1 day before the statement was generated. As such I have been charged for not making a payment that month (even though as far as I am concerned, I did). I can swallow the £12.00 because I should have waited for the statement to be generated, but what about the affect on my credit rating? Is this reversible by the bank or will it sit on my credit file until the time has passed when it no longer shows?

Sorry this is a bit of a long winded question!

Thanks in advance.

Because you would have gone a whole statement cycle without making a payment it's more than likely been reported as a missed payment. You or the company cannot/ will not change that as it's factually correct regardless of the reasons.

The payment marker '1' will stay there for 6 years however it's relevance will be negligible if it's a one off occurence. Creditors are mainly concerned with the last 12-24 months.

You could still try and get the £12 refunded if it's a one off and you ask nicely. At the same time set up a Direct Debit with them and then you'll never receive a late payment charge or marker again.