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Missed my first credit card payment, have i now messed up my credit rating?
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It might be that you didn't get a late payment marker at all. Rather than directly report a missed payment, CCs report the status of the account monthly. If at the time of report you are up-to-date, you won't have anything negative reported.
As for losing promo offers, the "gotcha" has always been part of the business model. CCs make the offer because they know that a certain proportion of cardholders will end up paying standard interest on a hefty balance, either because they run off the end of the deal, or they miss payments.
That said, to remove a promo deal because of a single missed payment is legally dubious (whatever the T+Cs say) in my view. It is a disguised penalty. CCs have become softer on this - at least one provider doesn't remove it at all, others let you off for a first/second "offence" (whether or not you request it), and the backdating of interest to the start of the statement period for which you missed the payment appears to be stopping. The last thing they want is a regulatory invention. In a few years' time I'd bet that the gotchas will stop - and therefore BT deals won't be so enticing.0 -
The title of the thread is somewhat confusing. Do you mean that you missed the credit card payment on a new card and this happened for the first time ever?
If so, I would try to ring the bank and ask them if it is possible to remove the late payment marker as well as £12 late payment fee as a goodwill gesture, as it can make things difficult in the future... I would also probably pay something like 10 times minimum payment right away, which should help with negotiations.
I telephoned the credit card company today, i have to call back on 14th May to find out if a late payment mark is placed on my credit file. I am told when i fo call back, a form/email is sent to the data team, who provide a response to collections team, who then contact me.Trinidad - I have a number of needs. Don't shoot me down if i get something wrong!!0 -
I telephoned the bank today. I was advised a marker would be placed on my credit file, however, i was also told a DD was set up at the application stage. The bank has informed me they would address this. I was advised to wait a week for this to be addressed.Trinidad - I have a number of needs. Don't shoot me down if i get something wrong!!0
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