Very small Natwest Credit Card Default - remove from credit report?

DevonMark_2

Just over a year ago I late paid my minimum monthly Natwest Credit Card payment by about 2 days. The minimum payment amounted to just £20. I have today checked my credit report with Equifax and this late payment is showing as a default on my record and severely affecting my credit rating.

Giving the small amount involved and the speed at which it was settled, how likely am I to be able to convince Natwest to remove the default notice and get it off my credit report?

It is the only default I have ever had and I have had several other settled loans, credit cards and overdrafts on which I have never defaulted or incurred charges (mainly with Natwest). It's infuriating that this one small default is blemishing mt credit score! My fault for not setting up direct debit (I did straight away after) - I don't want a refund for the charge, just the default notice removed from my rating.

Any advice?

Thanks
Mark

bengalknights

Very slim chance usually if its there error they back down but not when other way

guesswho2000

DevonMark wrote: »

Just over a year ago I late paid my minimum monthly Natwest Credit Card payment by about 2 days. The minimum payment amounted to just £20. I have today checked my credit report with Equifax and this late payment is showing as a default on my record and severely affecting my credit rating.

Giving the small amount involved and the speed at which it was settled, how likely am I to be able to convince Natwest to remove the default notice and get it off my credit report?

It is the only default I have ever had and I have had several other settled loans, credit cards and overdrafts on which I have never defaulted or incurred charges (mainly with Natwest). It's infuriating that this one small default is blemishing mt credit score! My fault for not setting up direct debit (I did straight away after) - I don't want a refund for the charge, just the default notice removed from my rating.

Any advice?

Thanks
Mark

Are sure it's shown as a default and not just a late payment? An account won't be defaulted until many payments are missed normally.

As for removing it, you've got next to no chance, as its a statement of fact, and if NatWest removed it they'd be providing false information unfortunately.

DevonMark_2

guesswho2000 wrote: »

Are sure it's shown as a default and not just a late payment? An account won't be defaulted until many payments are missed normally.

As for removing it, you've got next to no chance, as its a statement of fact, and if NatWest removed it they'd be providing false information unfortunately.

Sorry, you're right, it just shows as a late payment.

Is this less likely to prevent me being accepted for a mortgage?

guesswho2000

DevonMark wrote: »

Sorry, you're right, it just shows as a late payment.

Is this less likely to prevent me being accepted for a mortgage?

If its just one sole missed payment, its effect will dismiss with time if everything else is in order. A decent mortgage broker will be able to get you a mortgage, and you'd probably be ok with some high street lenders directly (though I'm no mortgage advisor, so don't quote me on the latter).

Tbh since you paid it so soon after it was late, it's probably just bad luck it actually was reported, many people have stated that when they've paid late, but so soon after the due date, by the time the CRA files are updated by the lender, the account is in order, so no missed payment marker is reported.

DevonMark_2

guesswho2000 wrote: »

If its just one sole missed payment, its effect will dismiss with time if everything else is in order. A decent mortgage broker will be able to get you a mortgage, and you'd probably be ok with some high street lenders directly (though I'm no mortgage advisor, so don't quote me on the latter).

Tbh since you paid it so soon after it was late, it's probably just bad luck it actually was reported, many people have stated that when they've paid late, but so soon after the due date, by the time the CRA files are updated by the lender, the account is in order, so no missed payment marker is reported.

OK thanks for that, feeling less concerned now. Annoying that I was one of the unlucky ones to be reported though. Guess there's little point in trying to get Natwest to overturn the late payment notice?

guesswho2000

DevonMark wrote: »

OK thanks for that, feeling less concerned now. Annoying that I was one of the unlucky ones to be reported though. Guess there's little point in trying to get Natwest to overturn the late payment notice?

Might be worth asking, the worst they can do is refuse, in which case you'd be in the position you are now, best case they say yes, so you'll be no worse off either way.

cos_2

DevonMark wrote: »

Sorry, you're right, it just shows as a late payment.

Is this less likely to prevent me being accepted for a mortgage?

From personal experience, and lots of talking with friends, a late payment here or there means nothing to mortgage lenders. We've all done it for a whole bunch of innocent reasons!

I suspect all will be fine

stclair

Ask them if they will change the data as a GOGW.

As other posters have rightly said is the worst they can do is say no.

However on the other hand one late payment marker hardly have no effect on your credit worthiness.

jamesd

A late payment for a low amount more than a year ago will be negative for the most selective lenders but it shouldn't be a major block. More recent, larger amount or more than once would be more negative.

If it had been a payment to be taken by direct debit they would be more willing to remove it and it would have been less likely to happen. It's a really good idea to always set up a direct debit for the minimum payment.

stclair

Thinking about it most lenders do not record late payments until its least 7 or more days late.