Missed Payment on your file :( The Consequences

cheersthanksbye

After a balls up (on my part it has to be said, im afraid to say) with direct debits, I have missed a payment to my MBNA Sony card.

Just wondering, in terms of applying for new cards in the grand scheme of things, how does this affect my chances. It can't be good I know! This is the first time I have ever missed a payment in 5 years of credit card use, I have succesfull loan paid off under my belt and a healty salary.

If anyone who has knowlegde of credit card applications can tell me the consequences, it would be much appreciated.

Cheers.

The_Boss

On your credit record, it will show up that you have missed a payment, but also it will show (I think) at least the past year of payments and that they have been on time. So hopefully a lender wont hold it against you.

You missed a payment, but how late was it? MBNA dont hand that info over to a credit agency unless it was 30 days late

mountainofdebt

Hubby missed quite a few last year but got accepted for new ones this year after being 'good'.

He (and me !) ahve been turned down though for increases in our Barclaycard limits becasue we missed payemnts (but am uptodate now)

Reaper

If you have only ever missed 1 payment in 5 years it will have zero affect on your credit score.

Also as TheBoss says many companies don't report you for being a few days late (although they will grab some money off you for it). Most likely they will only tell the CRAs you were late if it is still outstanding when the next statement is sent out.

So nothing to worry about.

cheersthanksbye

Cheers for all the responces guys - feel a bit more positive now.

I only found out I was late after opening my statement - the payment was due on the 15th and I got my statement yesterday - so only 9 days late. Was straight on mbna.com and made the payment so as you guys say, it hopefully will not have gone on my file.

Still have to pay the £25 late fee mind, but I guess I only have myself to blame. Thanks again guys for all your comments.

Michael_Nottingham

Why dont you phone them up and explain that it was an innocent mistake - if it is your first time and you ask nicely they will almost certainly waive the charge

If they dont play ball point out that late payment charges are unenforceable legally (there are plenty of discussions on this topic e.g. http://forums.moneysavingexpert.com/showthread.html?t=70879&highlight=late+payment)

Hope this helps