Ever been late on a credit card?

[CarLuver]

have had this chase card for 30 years . don't use it too much as i have other cards that offer more . i had it set up as the card to pay for parking app. i used it and forgot . i guess i missed the online bill also . So i got a letter telling me that i am past due . i called them and they said i was 45 late already. they also said they reported it to the credit agencies automatically .

So i went to the chase bank and paid the amount owed , $6.50 .

i have never been late on any card. i paid them off monthly for the last 40 years i have had them . i am wondering what effect this will have on my credit rating . i usually float between 820 /850 score .

so you guys miss a credit payment before? what did it do to your credit rating

 

[jdmfish]

I suppose you could probably call and eventually get it removed.

Credit score doesn’t mean anything to us, as we hover around a 650 as a couple. Our house and two vehicles paid for, and contribute 15% to 401k and invest in other opportunities as they rise. We are 29 and 36.

We are debt free, own everything we have yet we are not “financeable” by today’s standards and that’s ok. My wife owns her own business and I work for John Deere.

I wouldn’t be overly concerned about your credit score, as you can “borrow” against that score for whatever you want. With a 800 credit score you’re bullets anyways.

 

[dishdude]

Over 30 days late you're going to take a pretty decent hit. Nothing you can do but make sure it doesn't happen again and wait for it to fall off.

 

[factorytuned2012]

yes, just last month and was hit with a $25 fee. payment was missed by exactly one day. was due on the Friday I called up and paid on that Saturday since it was not a business and payment wouldn't take effect until Monday is why I was told I had to pay the 25 and never had this happened in my credit history with the bank that issues the card. (credit union). I would think if the payment was received before the next bill cycle it wouldn't be reported to the credit bureau's.

 

[Dave Sherman]

Only once, but it was partially my credit card company's fault. They never got my apartment number added to my address, despite submitting a change of address several times. Our letter carrier apparently figured out where it went, but then we got a new letter carrier, so I didn't get a bill without realizing it. Then I got the past due letter, and when I called to explain that my apartment number wasn't on there but I had tried to change it, they waived the late fee and didn't report it as late. Now I'm better about keeping track of when they are due.

 

[nickaluch]

Not that I remember I don't carry a balance

 

[Propflux01]

Call Them. Explain your credit history with them. Ask them to remove it. If they say they can't (which, they can) then request they cancel the card immediately.

 

[jdmfish]

Call Them. Explain your credit history with them. Ask them to remove it. If they say they can't (which, they can) then request they cancel the card immediately.

This ^ I don’t believe in credit as per my last post: but this is the reply you want to hear.

 

[Tdbo]

I had that happen with a Chase card. Even though I mailed it in ample time, they did not receive it.
I went to the bank and paid both months. After explaining the situation, they noted the situation in their system and waived the fee and interest after they saw that I had the card for 15 years and had never been late before.
Of course, I went through the hassle of going to the bank where I did the rest of my banking and cancelled the check
They did let me know that they received the cancelled check, two months later.

 

[ecotourist]

That's why investing in credit card companies would be a good investment. I haven't but should have.

Who else can legally charge "late fees" and 20%+ interest?

We're "free loaders". We pay off our full balance before the due date every month. I can just imagine some little guy (probably wearing a green translucent visor and rubbing his hands together) watching the calendar winding down hoping to charge us a late fee or interest, and every month we pay it off - just in time - again.

 

[CKN]

A late payment is a late payment. However $6.00ish is a non factor on your credit report. You will still need to supply an explanation however, should you apply for a loan.
Ask me how I know....

 

[skyactiv]

I would stop by the bank and talk to a bank officer.

This is what it could do to someone in reality:
It knocked you from being a super-prime to a prime rated borrower. If you were buying a $400,000.00 home on a 30 year fixed with 10% down, that late payment makes the mortgage payment $55 more a month at today's rates.

 

[KJSmith]

Credit score doesn’t mean anything to us,

It may be state dependent, but it can affect your insurance rates.

 

[97prizm]

have had this chase card for 30 years . don't use it too much as i have other cards that offer more . i had it set up as the card to pay for parking app. i used it and forgot . i guess i missed the online bill also . So i got a letter telling me that i am past due . i called them and they said i was 45 late already. they also said they reported it to the credit agencies automatically .

So i went to the chase bank and paid the amount owed , $6.50 .

i have never been late on any card. i paid them off monthly for the last 40 years i have had them . i am wondering what effect this will have on my credit rating . i usually float between 820 /850 score .

so you guys miss a credit payment before? what did it do to your credit rating

Alot of companies will waive a first late payment especially if you've had it that long.

 

[alarmguy]

Alot of companies will waive a first late payment especially if you've had it that long.

Yes, agree, rarely in my lifetime did I ever forget to pay a charge card but it has happened, if you realize call before any amount of time goes by they will remove a late fee if your a good customer and its not a habitual thing.

BY "time goes by" I mean less than 30 days. I can see the point, once you pass that 30 days time period it's automatically reflected on your credit report. I honestly dont see how it can be removed but I never had that issue/never a late payment on my report and some seem to think you can have it removed so maybe you can.

BTW my wife and I run 830 to actually this month 849 out of 850 with one agency. I do think it sucks for the OP just the fact he is aware of his score and to see it get dinged, well time will heal it. I have no idea how much it may get dinged. I take an interest in our scores for the fun of it and the fact of if I take money that needs to be paid back, we pay it back, simple stuff. Credit score does effect many things in life with insurance the big, big one.

 

[Jdeere562]

I was in the hospital and nursing home about 3 months, a couple years ago.
My Daughter finally got my mail key and started paying my bills.

I had a credit card bill with a $40 late fee. I have had the card for years and always pay it in full every month.
We just called them and explained the reason it was paid late. They could see my many years payment history.
They knocked off the fee, no problem.

 

[Pablo]

have had this chase card for 30 years . don't use it too much as i have other cards that offer more . i had it set up as the card to pay for parking app. i used it and forgot . i guess i missed the online bill also . So i got a letter telling me that i am past due . i called them and they said i was 45 late already. they also said they reported it to the credit agencies automatically .

So i went to the chase bank and paid the amount owed , $6.50 .

i have never been late on any card. i paid them off monthly for the last 40 years i have had them . i am wondering what effect this will have on my credit rating . i usually float between 820 /850 score .

so you guys miss a credit payment before? what did it do to your credit rating

Not by my fault. BUT once in the early days of schedule and pay online, I scheduled a couple days before due, and the payment never pulled! They wanted to charge me interest and a fee. Oh heck NO! They backed it all out..........and no impact to my credit score at all.

Are you getting a loan or something? Don't worry about it if you aren't.

$6.50? That's kind of funny really. Right now the balance on the Fidelity Visa is a lot higher, paid in full every month, of course.

My credit score certainly is not 850, and I don't care. Usually 800-830 range, and again don't care. Not taking any loans out or anything. The weird thing about credit score the amount we have doesn't really count for much and I try to keep our income low as possible, being retired. That said we charge EVERYTHING (for the cash points), hence the card balance vs income, brings the credit score down a little. But Pablo, you don't run a balance - I certainly do not, but when they look, before I pay the balance could or couldn't be high. I guess pay super early..........and then not use their money? Hah!!

POINT: Credit score is a silly metric for people who are retired and were super savers, or inherited a bundle.

 

[wavinwayne]

I ruined my credit in my early 20s and rebuilt it in my late 20s. One late payment will most likely be seen as a blip on the radar. Like others said, you will need to explain the late payment if applying for new credit.

 

[joekingcorvette]

Usually there is a 10 day grace period however you missed it by 5 days. I doubt it will affect you in the long term. 45 days late would be 1x over 30 days of delinquency which is not a big deal. Anyone can make such an oversight however I stay on top and I am another of the people that benefit by paying my credit card balances on time all the time. I only carry 3 cards and have a freeze with the 4 major bureaus on anyone opening an account under my name, ssn etc.

 

[gfh77665]

If you have great credit, it will take a hit but I would not stress one bit. Its not repetiative, its not part of a pattern for you. One ding is just one ding. Ignore it and it will fall off.