Missed full payment - credit rating impact? 4 August 2022 at 11:15PM in Credit cards 2 replies 253 views

scottyleics

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

grumbler

scottyleics said:

My question is, how much of a hit will my credit rating be from this?

Very little, if any.

cymruchris

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.