Late Credit Card Payment

SDM85

Hello

I recently was charged £12 for a late credit card payment. It is the first time I have ever been late paying anything. The reason I was late paying was due to a family bereavement, and I simply did not remember to make the payment on time.

I am really concerned this will badly affect my credit rating. Can anyone offer me information on if/how this will affect my credit rating?

Thanks in advance for any help.

YorkshireBoy

On an otherwise unblemished credit history it'll have very little impact, and even this will diminish with the passage of time.

If you're otherwise well organised financially, ie always have a buffer in your current account, then maybe a direct debit would offer a good 'insurance policy' against such life events?

SDM85

It was a one-off mistake, brought about by unforeseen circumstances. The credit card has since been paid off in full.

I rarely use a credit card, in fact this is only the second time. I have always paid it off as quickly as possible, so did not feel the need to set up a direct debit. Had it not been for the family bereavement I would have paid off the credit card on time. I have always paid mortgage, utility, phone and insurances correctly and on time.

exel1966

SDM85 wrote: »

It was a one-off mistake, brought about by unforeseen circumstances. The credit card has since been paid off in full.

Job done then, your query has been answered, you've no great reason to be concerned as it's a one off. Nothing to worry about.