Barclaycard missed payment

Palonka

Hello, could anyone please tell me whether they think a single missed payment (my only ever) on a barclaycard would reflect on your credit report and if so, how long would it normally take for this to reflect?

Thanks

Gurranes

Hello again Palonka.

Most CC companies share data with the Credit reference agencies CRA's (typically Experian, Equifax and Call Credit) once a month, by doing this they can then receive a file about their customers.

How soon after missing a payment did you bring yourself back up to date with payments as this might determine whether this will show on your file. For example if you were supposed to pay your Card on 1st March, your statement date is 5th March and the CC company share data with the CRA's on 8th March.

If you pay before 5th then you wouldn't have officially been in arrears, just late. There are a few days called grace days between payment due and statement date.

If you paid after 5th but before 8th then you would have been in arrears with the card company, but when they submit their data to the CRA you would be up to date (providing your payment cleared).

If you paid after 8th then it would report/show as payment down.

This is generally how it might work, but all the systems used by these companies work in a unique way.

Palonka

Thanks again Gurranes for the helpful post. I have just logged into my barclaycard. It appears that i missed the payment on the 18th, i was then issued my statement on the 19th Feb which shows me as £60 in arrears and then my transfer from my current account only cleared into my barclaycard on the 27th Feb. I fear that this may be bad for me...Do you think it likely that this will reflect. Unfortunately I do...

The_Boss

One generally doesn't have a huge impact. BUT try calling and explaining and they may wipe it from their records. Also set up a direct debit to pay the minimum to avoid ot happening again.