credit rating-late payment

emmamc252

i know this is the stupid of me, but off i went on holiday and completely forgot about my credit card. i only have 1 and hardly ever use it but ihad this month, total of £32. was supposed to be payed on 10th of june, only got back this morning so paid it straight away. i don't mean to sound stupid but will that effect my credit rating, not that i am thinking of applying for anything at the minute but i am just concerned!!! £12 charge as well darn it!!!!

hur575

call them and explain and if it is first time they might not charge you and not mark your credit file too. it is worth a try, my frined she always beg them they don’t charge her, and she has done it few times even though she is very bad with money. It depend who you get on the line.

good luck

nickmack

emmamc252 wrote: »

was supposed to be payed on 10th of june, only got back this morning so paid it straight away. i don't mean to sound stupid but will that effect my credit rating, not that i am thinking of applying for anything at the minute but i am just concerned!!!

If the payment was just late and not actually missed, this normally isn't recorded on your credit file.

DestroyingAngel_2

Missed or late payments will not affect your credit rating. Applying for and having too many credit cards will. If missed/late payments affected your credit rating, every one of us (well, apart from the 1% who diligently pay off their balances in full each month) would be in the same boat!

DestroyingAngel_2

Sorry, should have added that your credit rating would not be affected unless you were in the habit of making late payments or not at all (i.e a "delinquent" account), which would then lead to the cc company escalating your account to their debt-collection department, and your account being blocked so you can't use it apart from continuing to make payments. Further on, if they still can't get you to pay what you owe, they will sell on the debt to an outside company, and THEN you'd really be in trouble! Once your account has been "charged off" to an outside debt-collection agency, that's when your credit report gets a black mark.

A once-off missed or late payment would not affect your credit rating.

MABLE

DestroyingAngel wrote: »

Missed or late payments will not affect your credit rating. Applying for and having too many credit cards will. If missed/late payments affected your credit rating, every one of us (well, apart from the 1% who diligently pay off their balances in full each month) would be in the same boat!

Rubbish. Of course a missed payment will have an adverse affect on your score. You try getting a loan with a late payment showing.

Have you not heard of the credit crunch.

barclaysguy

DestroyingAngel wrote: »

Missed or late payments will not affect your credit rating. Applying for and having too many credit cards will. If missed/late payments affected your credit rating, every one of us (well, apart from the 1% who diligently pay off their balances in full each month) would be in the same boat!

I hope you dont believe this!

You dont need to pay off in full for a good credit rating, just atleast the min!

Late payments are marked on your credit file depending on who your card is with. If your nice, there is a chance a late payment charge will be removed, but they wouldnt change you credit rating - if its been marked.

DestroyingAngel_2

DestroyingAngel wrote: »

Sorry, should have added that your credit rating would not be affected unless you were in the habit of making late payments or not at all (i.e a "delinquent" account), which would then lead to the cc company escalating your account to their debt-collection department, and your account being blocked so you can't use it apart from continuing to make payments. Further on, if they still can't get you to pay what you owe, they will sell on the debt to an outside company, and THEN you'd really be in trouble! Once your account has been "charged off" to an outside debt-collection agency, that's when your credit report gets a black mark.

A once-off missed or late payment would not affect your credit rating.

For those of you who missed the addendum to my post.

NickX

MABLE wrote: »

Rubbish. Of course a missed payment will have an adverse affect on your score.

I think late payments are less of a problem than missed payments.

The occasional late payment does not bother the card companies too much - I don't think they actually report to the CRAa if it is a first offence.

YorkshireBoy

Depends how close your payment due date is to the CRA batch run Nick. Worst case scenario is they process the CRA batch run the day after your payment is due. Ergo, one/two days late is a missed payment.

barclaysguy

Late payments are the first sign of financial diff to a bank!

If the rest of your credit file is top notch then it probally wont stop you getting credit but may affect your interest rate. However some companies decline everything if there are any late payments on your credit file in the last 12 months.