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ohno week late credit payment, am i ruined?

brianmanahan

brianmanahan

Lifer
i just realize i didnt set up auto pay on my credit card! so i called and had them waive late fee and paid it up but does this mean i am financialy ruined if i ever want to buy a car or house?
 
Your interest rate will go up but your credit will not be harmed unless you are more than 30 days late.
 
edro said:
Your interest rate will go up but your credit will not be harmed unless you are more than 30 days late.
Click to expand...

Not likely, unless you were on some kind of special interest rate. Also new CC laws make it 60 days past due to affect interest rates.

I work for a company that provides online bill payment services (if you use a "Bill Pay" through your bank, it's probably our product) and spend a lot of time fixing situations where customers have f'd up payments. Just being a couple of days late on a payment won't affect anything long term, unless you regularly pay late.
 
i wasnt on any special rate, just the standard 20%. not like ive ever paid that tho ever, i just could have sworn i set up autopay but i guess i didnt, maybe it was the dementia setting in. under new laws can it affect credit score?
 
your credit score takes a 50 point hit that will be repaired in 7 years. Good thing it didn't go a whole month, that would have been a 175 point hit!
 
fire hazard said:
Its true.. I'm still hurting from a similar incident that happened two years ago.
Click to expand...

Yup, my girlfriend forgot a CC she opened at a department store and it went unpayed for 90 days. Her credit went from a low 700ish to a dismal 210. Guess I'm not going to marry her because we could never afford a house together!
 
illusion88 said:
your credit score takes a 50 point hit that will be repaired in 7 years. Good thing it didn't go a whole month, that would have been a 175 point hit!
Click to expand...
I have never heard of any payment <30 days late affecting credit score.
Source?
There are TONS of reference out there that mention the 30 day number.
 
edro said:
I have never heard of any payment <30 days late affecting credit score.
Source?
There are TONS of reference out there that mention the 30 day number.
Click to expand...

I pulled those numbers out of thin air, based on nothing but generating a reply aimed at causing amusement.... So... take that as you will.
 
I lost 80 pts on a miss payment even though it's the CCs company's fault. But I got on their asses to get it fixed, tadah, back to normal.
 
illusion88 said:
Yup, my girlfriend forgot a CC she opened at a department store and it went unpayed for 90 days. Her credit went from a low 700ish to a dismal 210. Guess I'm not going to marry her because we could never afford a house together!
Click to expand...
wat
 
I doubt it's 30 days...Probably 90 days?

I had a CC from the subsidiary of a financial company.
That subsidiary was acquired by another firm the 4th week in March(or April? don't remember).
Billing statement from new company came, never saw it.
Because I was on Autopay at the old bank, I never bothered to check anything. Balance was transferred after the acquisition, but before billing statement was due at the old bank.
I received a call the 2nd week of July from the new bank that statement was overdue and could be reported to credit monitoring agencies in 3 days 5 mins before leaving for work.

I called them later stating I don't owe anything. I haven't used the "old" cashback card since March(April?) and I never activated your "new" craptacular card because I don't do the point system rewards nonsense. They explained the situation and I figured out what happened.

I mentioned that I never received a billing statement. They said they sent one in May and June. Now I remembered...receiving letters from an "unknown" bank in the Midwest about a credit card point reward system that I put in my paper shredder every month without reading thinking it was one of those junk credit card offers.
I asked "will this impact my credit report", they said no...I honestly never bothered to check if it did, or not. She said they gave a longer notice than usual because of the merger. All penalties, interest, and late fees accumulated was also waived.
 
First, the bank that issued your cc will call the judge. That judge will issue a warrant.
Some folks will pick you up to go to debtor's prison.
Enjoy breaking rocks with a hammer.
 
well, being that i work as a CSR for a credt card company **ducks under the table** ..i know most ppl hate the CC company... anyway, depending on your provider it will play a factor in your interest rate going up. when it goes up it will depend on the company but, keep a close eye on your statements for anything stating your APR&#37; will go up. if u can go a couple months without any FYI on it.. you should be ok. if your make it 6month be thankful. 🙂
 
BoredWork said:
..i know most ppl hate the CC company...
Click to expand...
Irresponsible, indebted people hate credit card companies.

I love credit cards and credit card companies.
It makes life so much simpler than using cash.
It's a TOTALLY FREE loan for ~21-30 days.
 
You should be fine. I dont think i've ever heard of anything less than 30 days late show up on a credit report, unless something has changed....
 
You're fucked. I think you should start a credit repair business with you as your first customer. My suggestion is to take cash only, up front.
 
edro said:
Only irresponsible, indebted people hate credit card companies.

I love credit cards and credit card companies.
It makes life so much simpler than using cash.
It's a TOTALLY FREE loan for ~21-30 days.
Click to expand...
This.
Not to mention 5&#37; cashback.
 
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