Missed CC payment what effect will it have?

tinkerbellkirst

My Husband recently missed a CC payment.

I sort out the finances on the credit cards and recently paid his off and the dd cancelled. He then decided to buy something on it for me so I didn't know as we have a joint bank acct.
As he didn't tell me until yesterday in conversation the payment was missed :mad:

It wasn't much as I have now paid it. I think it should have been paid around 25th March and I paid last night the balance in full.

Is it likely to effect his credit file when it has been paid so quickly? Should I call tesco and check? We got charged a late payment fee too which I've paid but thinking I should have tried to ask tesco to reverse it. Just wanted it sorting asap.

Not sure whether to just leave it and hope it doesn't appear, or chase up with tesco, what do people think?

[Deleted User]

It may appear on his file, it may not. Depends on when Tesco reports to the CRAs.

One late payment is not a big deal either way, as long as you're not applying for a mortgage tomorrow.

Have you now closed his Tesco account? If you're not checking statements, then you need a full pay DD in place if he's keeping the card.

ViolaLass

Cancelling the DD but not closing the account or cutting up the card is counter-productive.

elsien

I'd phone Tesco about the late payment charge if you always pay on time. Nothing to lose, and I got mine refunded when I overlooked it the one time.

tinkerbellkirst

Thankyou for the advice guys.

I haven't phoned tesco yet so will do that tomorrow as I want to now close the account anyhow.

I had told him to cut the card up and his response was 'I'll keep it while it has its 0% in case we need it in an emergency! This was not an emergency. Dd had been cancelled as I was planning on closing the account. It's now useless anyway as the 0% would have ended now the payment is missed so it's going!

Ben8282

Whose card is it? Yours or your husbands? Your statement 'My husband recently missed a CC payment' strongly implies that it is your husband's card. If that is correct, on what basis are you going to call Tesco and cancel his card. You cannot do this.


Why were you so quick to cancel the direct debit? Problems of late/missed payments caused by people cancelling direct debits is a common theme of many threads here. The opposite, problems caused by credit card providers taking direct debits when the balance is 0, has yet to appear in a thread.


It would appear to me that this problem is entirely of your own making.

GingerBob_3

Ben8282 wrote: »

Whose card is it? Yours or your husbands? Your statement 'My husband recently missed a CC payment' strongly implies that it is your husband's card. If that is correct, on what basis are you going to call Tesco and cancel his card. You cannot do this.


Why were you so quick to cancel the direct debit? Problems of late/missed payments caused by people cancelling direct debits is a common theme of many threads here. The opposite, problems caused by credit card providers taking direct debits when the balance is 0, has yet to appear in a thread.


It would appear to me that this problem is entirely of your own making.

Well spotted, but I think she might know that. The issue the OP asked about was what effect it might have. Trivial issues like this can have a big effect on pending or near-future mortgage applications, especially now with the draconian checks that are carried out. If you're not applying for a mortgage I'd just contact Tesco to ask for the £12 back then forget about it. Again, this case represents one of the major failings of the present CRA reporting regime: trivial errors, of which most of us a guilty from time to time, potentially having an effect on your finances that is totally out of proportion.

tinkerbellkirst

Ben8282 wrote: »

Whose card is it? Yours or your husbands? Your statement 'My husband recently missed a CC payment' strongly implies that it is your husband's card. If that is correct, on what basis are you going to call Tesco and cancel his card. You cannot do this.


Why were you so quick to cancel the direct debit? Problems of late/missed payments caused by people cancelling direct debits is a common theme of many threads here. The opposite, problems caused by credit card providers taking direct debits when the balance is 0, has yet to appear in a thread.


It would appear to me that this problem is entirely of your own making.

As the other op pointed out, I'm entirely aware that it is a problem of our own making and never said it wasn't.

It is his credit card and what I mean is he will cancel it and close the account. Either me or him is not really an issue the fact remains the same the account will be closed.

I cancelled the direct debit as we changed bank accounts and I only wanted going over what needed to. His credit card was at 0 balance so it wasn't an issue at the time. It's beyond this he's spent on it not realising how the payment situation works as I deal with this although as I said previously I told him to cut it up.

You appear to have answered all the questions I didn't ask apart from the one I did, what effect it will have. That's all I wanted to know.

tinkerbellkirst

GingerBob wrote: »

Well spotted, but I think she might know that. The issue the OP asked about was what effect it might have. Trivial issues like this can have a big effect on pending or near-future mortgage applications, especially now with the draconian checks that are carried out. If you're not applying for a mortgage I'd just contact Tesco to ask for the £12 back then forget about it. Again, this case represents one of the major failings of the present CRA reporting regime: trivial errors, of which most of us a guilty from time to time, potentially having an effect on your finances that is totally out of proportion.

Thanks for the reply.

Luckily we have already applied for a mortgage which has all gone through recently so we have nothing left to apply for now.

I will contact tesco to get the £12 refunded if they are willing, well my husband will and cancel the account at the same time.