Missed a payment..

jmmo20

Hi..

I moved to the UK a few years ago so I didn't have much of a credit history. I've been slowly building up my credit score and I'm now at "average/Good".

I had a problem last July, though. I missed a credit card payment but just one day!! I immediately paid off (not the minimum but the full balance), but a few weeks later I noticed my credit history had been "marked" saying one month late payment.

obviously it wasn't a whole month, just one day, but I get there's not much to do.

How long does this stay in my history?
All the rest is perfect, no missed payments, store cards paid off, no overdraft, 4-year address history, electoral roll, and I've kept some debt in my credit card for a few months so I could look "more profitable".

Any advice would be appreciated.
thanks.

stephane_2

A late payment marker will have more or less no impact whatsoever....considering that it took place in July last year, I would not lose any sleep over it, just this factor will not stop you getting credit in the future. Don't worry....all is ok

Eonel

Agree with Stepane. A single 1 month late payment marker incurred some time ago has negligible impact on your credit record today.

YorkshireBoy

jmmo20 wrote: »

How long does this stay in my history?

Up to 6 years.

I've kept some debt in my credit card for a few months so I could look "more profitable".

Completely unnecessary, and a waste of money!

Willing2Learn

YorkshireBoy wrote: »

Completely unnecessary...

Is It? How can you be certain?

YorkshireBoy wrote: »

and a waste of money!

Definitely poor use of money, but not 'if' some lenders do like to see evidence of potential profitability.

I'm not arguing with you. It's just that because most banks are commercial businesses with shareholders, they must prefer customers who both manage their accounts (no late payments etc) AND don't always pay in full (for improved profits). Having a customer such as me, who always pays in full every month or uses 0% deals then closes the account as soon as the deal ends, cannot be anywhere near as profitable as someone who always has a balance whilst making payments on time.

I don't have supporting documentary evidence from any financial group, but it is fundamental economics.

jmmo20

YorkshireBoy wrote: »

Up to 6 years.Completely unnecessary, and a waste of money!

Thanks I didn't know. Actually I was told to do this when I moved to the UK. I'm from Spain and we don't have a credit rating system like we do here in the UK. There are list of people who failed to repay a debt, but it's actually illegal to share information about how much debt you "own" and how much you repay each month.

Some of the debt I've carried over is legitimate, meaning for examplke that I bought a computer worht £1000 and paid it off in 2 or 3 months. Otherwise most of the time I repay in full.