£16 missed payment causing credit issues

OM1978

In short, I have a credit card with Virgin Money which I hardly use. When travelling to the states on Holiday I used the card for some transactions, nothing major it was totalling £600. As I don't use the card much there was no DD setup for repayments, I subsequently missed a payment. Having received a letter stating I missed the payment, I settled the account in full. I did not receive any other reminders.
Virgin has now placed a missed payment on my credit file, the minimum payment was £16. This has reduced my credit rating considerably and as a self-employed Director, I have always tried to ensure my credit has been good. 
I contacted Virgin however they said there is nothing they can do.

Any advice on what I can do? it seems somewhat unfair such a small mistake can affect someone's livelihood.

Thanks in advance.

sambaird

Why do you think it is unfair?
Seems to me to be an accurate reflection of your management of the account.

You ran up a balance and didn’t make a payment on time. Are you saying it is their fault that you didn’t have a direct debit set up, or that you didn’t make a manual payment?

Seems to me that their processes worked - they sent you a reminder after missing the payment... not quite sure what more you could ask of them really?
It is after all, your responsibility to keep track of your finances - not them.

You obviously have the right to make a formal complaint and do a bit of grovelling, you may get lucky that they will remove the late payment as a gesture of goodwill... but don’t think it’s guaranteed that they will do so.

One missed payment shouldn’t have a massive effect on your credit history. Don’t worry about your ‘score’ - read the sticky at the top of the board for more info on this.  How has it affected your livelihood so far exactly?

Personally, I would chalk it up to experience and use it as a lesson to make sure you have direct debits set up for all credit cards in future.

DCFC79

OM1978 said:

In short, I have a credit card with Virgin Money which I hardly use. When travelling to the states on Holiday I used the card for some transactions, nothing major it was totalling £600. As I don't use the card much there was no DD setup for repayments, I subsequently missed a payment. Having received a letter stating I missed the payment, I settled the account in full. I did not receive any other reminders.
Virgin has now placed a missed payment on my credit file, the minimum payment was £16. This has reduced my credit rating considerably and as a self-employed Director, I have always tried to ensure my credit has been good. 
I contacted Virgin however they said there is nothing they can do.

Any advice on what I can do? it seems somewhat unfair such a small mistake can affect someone's livelihood.

Thanks in advance.

1 it hasn't affected your credit score
2 your history is what matters
3 its very fair, 
Can ypu tell me why its unfair ?
Lesson learnt, make sure a DD is setup on a card your about to use.
Virgin have done everything by the book here.
How has your livelihood changed ?