Missed my first credit card payment, have i now messed up my credit rating?

trinidadone

YorkshireBoy wrote: »

I'm sorry. I just thought, because you'd mentioned it 4 times so far in the thread, that the answer was important to you.

No need to apologies, its ok

redpete

trinidadone wrote: »

when you say "affected" what does that actually mean? whats the difference between a credit file and a credit history?

Your credit history is the record of your financial circumstances and events, your credit file is the collection of this information with other relevant information (e.g. how long youve been at your current address, are you on the electoral role). A credit score or rating is a way that organisations represent this information in a single number that might or might not indicate your chance of getting further credit.

molerat

trinidadone wrote: »

The bank did not mention the late marker, but did mention the late payment could affect my credit rating

Which would be the effect of a late marker.

trinidadone

molerat wrote: »

Which would be the effect of a late marker.

oh ok, so it was mentioned then.

Emily_Joy

trinidadone wrote: »

oh ok, so it was mentioned then.

The title of the thread is somewhat confusing. Do you mean that you missed the credit card payment on a new card and this happened for the first time ever?

If so, I would try to ring the bank and ask them if it is possible to remove the late payment marker as well as £12 late payment fee as a goodwill gesture, as it can make things difficult in the future... I would also probably pay something like 10 times minimum payment right away, which should help with negotiations.

trinidadone

Emily_Joy wrote: »

The title of the thread is somewhat confusing. Do you mean that you missed the credit card payment on a new card and this happened for the first time ever?

If so, I would try to ring the bank and ask them if it is possible to remove the late payment marker as well as £12 late payment fee as a goodwill gesture, as it can make things difficult in the future... I would also probably pay something like 10 times minimum payment right away, which should help with negotiations.

Hello Emily, sorry you think the title is confusing. Yes, you have interpreted the title correctly.

The bank have already waved the 12 pound late payment fee. Thank you for giving me the heads up regarding the late payment marker, i was not aware one existed until this thread. I will call the bank next week, as by then the card payment would of cleared. I have also paid Mays min payment already by debit card, so my next payment is in june, which should activate the june min payment DD, do you think this is enough?

Emily_Joy

trinidadone wrote: »

I have also paid Mays min payment already by debit card, so my next payment is in June.

This sounds confusing, too. You can't make any or minimum payment before the statement is generated - it would count towards the total balance, but not as a minimum payment.

Do you mean that you have received a statement with "pay by" date in May and made the minimum payment already?

trinidadone

Emily_Joy wrote: »

This sounds confusing, too. You can't make any or minimum payment before the statement is generated - it would count towards the total balance, but not as a minimum payment.

Do you mean that you have received a statement with "pay by" date in May and made the minimum payment already?

I have paid the min payment for april, which is due to be paid in may

Emily_Joy

trinidadone wrote: »

I have paid the min payment for april, which is due to be paid in may

Then this April statement should have all information explaining the consequences of the late payment: whether promotional offer is on, late payment fee, new account conditions. All I can say is that both late payment markers and minimum payment markers on a credit history are better corrected. In addition to your ability to get good offers for 6 years, this will likely affect your ability to get any credit products from the bank in question for much longer, especially if this is a "high street" bank.

Samsung_Note2

binaryuniverse wrote: »

That's very unusual to be honest. Normally missing a payment is an immediate breach of terms of the offer and they withdraw a 0% offer. Usually, a first 'offence' is waived IF you phone and explain the situation.

Either way, it's not your credit history you should be stressing about, rather than the interest you could potentially getting charged. That's far more important. As long as the 0% offer is still in place, you're all good.

Tesco allow two strikes before withdrawing 0% offer..i canceled a direct debit and reset it up with another bank...payment was sent.

Tesco seemed quite relaxed by it all and no late/non payment marker.