m&S credit card, paid late by 1 day. No late payment fee, still paid before statement was generated

seatbeltnoob

Just wondering what the chances are that they'll strike a late payment on my credit file.

I would have expected the £12 late payment fee slapped on the following statement but the balance was fully cleared on the 11th hour and the new statement is £0 (no fees imposed).

[Deleted User]

Not so sure about the credit file impact but if you ring up you may get the fee waived and would get information on your credit file impact.

eskbanker

They can (accurately) report a late payment to the credit agencies without necessarily charging you for it.

However, when you say "the balance was fully cleared on the 11th hour", what do you actually mean?  If it was paid after the payment due date then it was late and they're entitled to report it as such, but 'the eleventh hour' is normally associated with cutting it fine but staying on the right side, such as actually on the due date or the day before.

seatbeltnoob

11th hour as in before the next statement is generated. The due date is 5 days vedore the next statement date

seatbeltnoob

So the whole balance was paid off in the 5 days before next statement was generated by after the due date.

eskbanker

seatbeltnoob said:

11th hour as in before the next statement is generated. The due date is 5 days vedore the next statement date

seatbeltnoob said:

So the whole balance was paid off in the 5 days before next statement was generated by after the due date.

The date of the next statement is irrelevant when measuring lateness, so once you've missed the payment due date then you've gone past the eleventh and twelfth hours.  However, I don't understand why the new statement is zero - even if they're not planning to levy a late payment fee, you'll be charged interest on the previous balance, having failed to pay it off in time, but this should be included on the statement too.  Do you have online access to your account to keep an eye on it in between statements being issued, and if so then does anything show since the statement was generated?

seatbeltnoob

0% rate which i just lost, but that's OK, it was a low limit card and I have paid off all my cards recently.

You sound incredulous about my circumstance. Just take my word for it, all the facts are in the posts above, and no I'm not talking out of my !!!!!!, I'm going by the statements issued on 1st June which I am now viewing online.

Fighter1986

Credit card companies don't see any difference between one second late and one month late. Late is late.

Set up a direct debit for the minimum payment on your other cards moving forwards as a safety net to ensure this doesn't happen again  

Thrugelmir

Some credit card companies are waiving late payment fees at the current time. 

seatbeltnoob

I had a tesco credit card years ago, which would levy the £12 fine for paying late but never put a bad mark on the credit file. I was really just hoping for other peoples experiences.

Same issue with the tesco card. I would wait til payday and pay the cc. Because these cards hard their due date on 27/28th of the Month (just atfer payday), it worked on most occasions, but when I got paid late or the due date was moved earlier it messed up my payments. Iget get the payment in before the next statement date but after the payment due date. Tesco CC didn't seem to mind me paying after the due date (as long as they levied the late fees)

I'll update this thread 2 months time when the credit records are updated with the 3 reference agencies and let you all know whether m&s mark this as late or not.

MinuteNoodles

seatbeltnoob said:

11th hour as in before the next statement is generated. The due date is 5 days vedore the next statement date

You were given the date on your previous statement when the payment was due. If it was not made on or before that date it was late. If it was due on say 2/6/2020 then it's due on 2/6/2020. If you pay it at 00:00:01 on 3/6/20, a second after midnight, it's late. It doesn't matter whether it was made one day, three days, five days or whatever before the next statement date if that date was different to what the statement said was the date it was due. Because of weekends the date payments are due can and do fluctuate so thinking it is a fixed X days before the next statement date is a very dangerous way of carrying on.