1 day Late Vanquis Payment - will it show on credit file?

colink24

Hi all

Hoping someone can settle my nerves on this. I have been in a bad situation with my credit over the years. I ran up a debt of around £25k, which was mostly paid off in full via StepChange a few years back. Since then, ive been on the long road to recovery. My credit file is a lot cleaner, and the final few defaults drop off in a few weeks.

Since then, ive managed to secure credit on credit cards, mortgage and mobile vendors. I have a total of £15k available on mostly credit repair cards, such as Vanquis, 118118, Zopa etc. All paid off in full with no balance on any.

Vanquis is my oldest card, about 4 years. I have managed my account exemplary generally, meaning my available credit has gone from an initial £1200 to £5,000. I have always paid off in full every month. However, I stupidly missed this months payment, due on 28th August. They messaged me this morning and I paid on the app straight away. I have read that they dont usually report it to the credit reference agencies unless it is over 30 days late but, given I have worked so hard to keep my file clean, I am now a little nervous this will be reported and all my hard work undone. Given I am remortgaging in a few months, it is vital I keep a clean credit file.

Since I made the payment on the app, I phoned them to explain the situation. My app is now showing as "promise to pay" even though I have paid, as I assume it takes a few days to register on my account. 

Am I likely to see a late payment on my credit file? If so, can I ask Vanquis to look upon this kindly in any way, given my account history and the fact it is just an oversight?

Thanks all in advance - and yes, I have since setup a DD, which I know I should have done in the first place!

RBYHS

I wouldn’t worry. It should not show as late or missed 

CliveOfIndia

It's difficult to say for certain.  I suspect that you'll probably be OK, as most lenders don't send their reports in to the CRAs immediately.  It's definitely worth giving them a call - if it's an isolated incident, and if you're ever so polite and contrite, in my experience most lenders can be quite lenient towards the very occasional oversight.

But even in the worst-case scenario, if it does get reported it's not the end of the world.  Obviously it's somewhat less than ideal, but a single late payment - especially if rectified quickly - will make very little difference to an otherwise well-managed history.

Brie

The various credit histories that I have seen show an outstanding amount of debt for a card or other creditor but without any comment until things are going wrong.  I'd say that one day won't make a difference to the credit history or at most will show as a "yellow light" for this month.  If you have 1 little yellow in a sea of green no one is going to care.  If on the other hand you had yellows popping up on most of your accounts, occasionally twinkling into red then there's obviously a problem.

Have you considered getting rid of any of your credit cards now ahead of remortgaging?  The ones you mention are all obvious credit builders and seem to have done their job for you.  It may be that cutting down your credit obligation will work to your advantage with the bank.

elasto

You're very likely ok.

I made a payment a day late to a CC company a year ago or so (I thought I'd set up a DD but I hadn't).

It never showed as late on my credit file.


Edit: I did call them to find out what would happen and they told me it wouldn't get reported as late.

Different companies might have different policies, of course, but my guess is you'll be fine.

RogerPensionGuy

If very concerned, maybe call them up and pay today immediately on a debit card as that may show, tick boxes quicker. 

How was payment late?

I use auto play for all mine to be paid, full amount or minimum amount options easily available. 

WillPS

RogerPensionGuy said:

If very concerned, maybe call them up and pay today immediately on a debit card as that may show, tick boxes quicker. 

How was payment late?

I use auto play for all mine to be paid, full amount or minimum amount options easily available. 

Debit card payments are sometimes processed slower than Faster Payments - Virgin Money for example take 2 working days to process debit card payments but faster payments are credited within an hour or two.

To the OP - try not to be too concerned about it, make the payment. If it shows as 1 month late that's probably not the disaster you're fearing. Either way, nothing to be done about it now.

enthusiasticsaver

Late or missed payments take longer than a day to show up  so you should be ok. 

enthusiasticsaver

Why don't you set up a direct debit payment to pay in full each month so this doesn't happen again?