Missed credit card payment due date by accident - consequences?

24102017

Hello all,

I accidentally missed the payment due date for a capital one credit card. The balance was £50, with a £5 minimum, due yesterday on Sunday 4/11. I received a text today, on Monday 5/11, logged in and noticed this. I immediately paid the entire balance by debit card. It notes this will take a day or two to appear in my account. A late fee of £12 has been applied (fair enough).

This is the first late payment in a ten year history. I use two other credit cards for my main use, and these are always paid on time via DD. I have used this capital one account perfectly for 10 years, but it has always been a spare card. I use it as a back-up and never thought to set-up a dd, as I have always remembered to clear the nominal balances. In this case, I used it to cover personal expenses when overseas, to put them on one card so I remembered to claim them back - I forgot about the statenent until I received the text - a genuine mistake.

Up to this point my credit score has been perfect.

Question: will the above, given I have now paid immediately in full, reduce my credit score, or will there be a narrative on there? Is it worth me calling to explain the situation, and hence requesting no notes to go on my file? I will now set-up a dd payment for this account.

I plan on applying for a mortgage shortly.

Thank you for any advice.

jimjames

It shouldn't affect your credit score much if at all as you've now cleared the entire balance. Certainly after a month or two there won't be an impact.

[Deleted User]

Why are you worried about your score dropping?

No one sees it but you and the CRA's

24102017

The issue is that I will apply for a mortgage soon.

Will the above inpact any scoring lenders use to determine whether to offer me a loan, and if so at what rate?

If so, how do I mitigate the situation?

Thanks

[Deleted User]

Lenders don't see your score.

They only see the data on your files - has it been recorded as a missed/late payment?

[Deleted User]

If it appears on your credit files, then lenders will factor it in. On its own, it may not have a huge impact. With other factors, it may do. Its impact will reduce with time.

There is no single answer.

24102017

Will Capital One record it as a late fee after just one day late on the first instance of this happening? Can I call to explain the situation and request such a note not to be made?

I have otherwise an excellent credit rating - this is the first error.

[Deleted User]

Ask them. It depends on when they report and any internal tolerances.

And stop focusing on your non existent excellent credit rating.

Ebe_Scrooge

It's hard to say for sure whether they will have notified the CRAs of the late payment already - it depends on how frequently they report. But if it has been marked, there's not much you can do about it - it is a statement of fact, you were late in paying.


However ... one late payment in an otherwise blemish-free history will make very little, if any, difference to your mortgage application. I really wouldn't worry about it. If you had a history of regularly paying late, that would be a different matter. But a single "misdemeanour" will make barely a sausage of difference.

StopIt

Even if it is marked as a late payment (Some CC companies add a bit of leniency) it wont hurt your credit history too much.


Just don't forget to pay it again. It's your responsibility remember, no excuses!


Nothing wrong with asking CC to be nice, but they're under no obligation to do so.

scd3scd4

Ring them and explain you are a loyal customer and it has never happened before, was just a day late.


Apologise and ask for it to be refund in the spirit of good customer care. I have been refunded a few times over the years on different cards.