Missed full payment - credit rating impact?
scottyleics
Posts: 10 Forumite
in Credit cards
Hey all,
Due to a complete lapse on my part, I only paid the contractual minimum on my main credit cad last month.
The £38 interest bill I know cannot be refunded as it was my mistake and I will learn from it to setup a direct debit.
My question is, how much of a hit will my credit rating be from this?
I have about 2 years of using ~£1000 /month and paying in full. But July will show a £2000 balance and £50 paid. I have just paid it back down to £0 a few minutes ago.
I ask as I am planning to buy my first house within the next 6 months.
Thanks in advance,
Scott
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Comments
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scottyleics said:My question is, how much of a hit will my credit rating be from this?
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Agree with the above - it wasn't a 'missed' payment as such. You met your contractual obligation, so you'll get your little green tick/square/positive mark on your credit history as usual. Your utilisation will be a little higher than normal for one month, but that's not going to impact anything in reference a mortgage application a few months down the line.An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects Happy to help others going through what I've been through!0
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