Late credit card payment

Ladybump

Husband and I are separating and in the midst of everything missed 1 credit card payment (paid next day when realised it was late). This is only default we have ever had. No debts, etc. Worried now that this will impact on ability to get a mortgage. Is this likely to have a big impact? Thanks

Arleen

One late payment is not a default, it's just a one single late payment which on it's own, alone, in otherwise pristine credit history will not be a major blow. Especially after next month when the account will be back to OK status.

But you should also give the issuer a call, explain the situation, that you've already made the payment and that you want to set up a direct debit for minimal sum now, as you are on the phone with them so it will never happen again. Then you can also ask could they let you slide this one time and not report it, since for XYZ years you were excellent customer. They may just go for it, being pro-active is the key here, so time is of the essence.

Nebulous2

One day late may not be notified to the CRAs. Keep an eye on your reports and see if it shows.

Dobbibill

Agree with both posters above...it may not even report but also set up a DD for at least the minimum payment to prevent it happening again.

In answer to your question about the impact, it will be minimal if it is an isolated incident and the further in the past, the less it will impact.

smdabs

If it does affect your credit rating, then it will be minimal. Most mortgage lenders will be happy to accept the odd late payment.

However, I highly doubt this will affect your credit file at all - especially as it was paid the next day. Usually, banks do give some leeway and do not report late payments straight away. This is in order for the account to be brought up to date and also cater for weekends/bank holidays/transaction issues. (I've even seen this with late mortgage payments!).


Give them a call to check, or check on Clear Score/Equifax etc. to put your mind at rest


Bear in mind these can sometimes take a month or 2 to update accurately.

emmalou68

I have a similar situation that I have just discovered. my boyfriend stopped a dd coming out of our joint account for his credit card and just decided to pay each month instead. just noticed he has a late payment charge for not paying last month, basically all got confused in the change over. the balance was only £20 which was stupid but now worried if it will affect things when we come to remortgage next year. he is going to call them and apologise/ rectify and all is paid off now. do you think this will be OK?

Thrugelmir

Take it on the chin and move on.

emmalou68

thrugelmir was that response for me? do you not think it will matter very much? I am always so paranoid about these things. we aren't remortgaging until next year when our deal comes to an end and have about 50% equity and mortgage is only 2.8% joint income so I am assuming we are in a good position anyway but I hate having things like this that need to be flagged/ explained!