Over Credit Limit / Credit Report

sophieg27

Hi,

After some advice, I've recently changed my payment due date on one of my cards, I thought this would mean my interest would be taken on later in the month to tie in with this, my own fault for not looking into it, I know, but it meant that when the interest was taken, I went over the limit by £2.13, this was on the same day my statement was taken so it will mean a marker on my credit score - does anyone know the implications of this, is it viewed very negatively? I have never gone over my limit, had a late payment etc before so worrying that it's going to have a big knock to my report for the future as I know these can stay on there for 6 years.

Thanks in advance.

Willing2Learn

Make a "Faster Payment" to settle the over limit balance.
Then phone them, explaining this is the first time you have been over limit, and that you made an error in timing of when interest becomes payable.
Apologise for your mistake.
Request that they don't report it to the CRAs.

Everything should be ok as long as you act fast.

Edit: Just to add, if you are struggling with your debt, then please post any questions you may have on the DFW board for advice and support.

[Deleted User]

As above - ignoring the fictitious score

sophieg27

Thank you for coming back, really appreciate it - so, I paid £300 off the next morning (the warning came in at 23:33 on the 5th) - they said that because the statement came on the same day, it's automated and there's nothing they can do, it has to be reported to the credit reference agencies - they have refunded the £12 payment charge but it's not that i'm worried about, it's more the impact on my credit file and whether this will have an impact, i've worked so hard to bring down my debts and this was just an error as it's my lowest rated card so was going to be the last one I paid off , a bit of an error I now realise.

Willing2Learn

The 'late payment' marker will unfortunately remain on your file for six years. This does have a negative impact on the way your file is viewed by potential lenders, although the impact reduces over time. The impact is nowhere near as bad missing payments, delinquent or defaulted accounts. It just would indicate to a lender that you may currently be struggling with payment of your credit accounts.