Will This Affect My Credit?

[CROWNVIC4LIFE]

I will keep this as brief as possible...On May 31st I mistakenly wrote check on a closed account to my credit card company...I did not realize that until 2 days ago when my credit card was declined at the gas station...I called the credit car company up within 60 seconds to find out why and they told me of the bad check...I did a check by phone and got the card back on line again within 24 hours...Citicard charged me 39 dollars for the bad check and another 39 dollars for the late payment.

Is ths going to affect my credit?...Thanks in advance.

 

[oilcoholic]

Normally, in the days of old, I'd say probably not. But, with these new consumer credit laws that have been enacted, it just very well might. I would think that your history with the credit card company should/would have something to do with how this affects your status.

 

[daves87rs]

Depends on the credit card company.

 

[CivicFan]

Technically, a credit report has the capability to contain less than 30 days old late payments...

Usually they do not report if the payment is late for less than 30 days, though. You might want to call Citi and ask them if they will/have sent your records to the credit reporting bureaus.

 

[TWG1572]

Since it sounds like you were less than 30 days past due, they shouldn't report the delinquency to the credit reporting agencies. Typically, you only report 30 day past due accounts and worse to the agencies.

However, Citi knows it happened and would probably consider it if you were to apply for credit with them, etc. But it's such a minor delinquency that it doesn't mean much in the scheme of things.

Just to be sure it didn't get reported, get yourself a free credit report in a couple months and make sure you are clean. I have an account with Citi too and know they regularly report.

 

[hate2work]

This will have little to no effect on your overall credit. The majority of people (including myself ) have these "brain fert" blemishes that are viewed as oversights. Keep in mind that if you have SEVERAL of these kinds of blemishes within 24 months that will definitely effect your credit.

If you have an otherwise stellar history with these people, call and ask for a "policy adjustment" as a "courtesy" to you to have the late fee and bad check charges dropped. Be as polite as you can, but if they at first say no, talk to the supervisor and remind them that there are many other gas/credit companies that would love to have your business.

 

[Gene K]

Most likely it will not effect your score. Im assuming it was less than 30 days late when you paid it. Normally debts are not reported late until you are 30 days behind. That said the credit card company can use it to increase your rate. I believe on my cards its late twice in 6 months and they can increase your interest rate.

If you still do business at that bank its possible they could report it as an overdraft/returned if you do something fairly involved like a mortgage/refinance within the next 6 months and the potential creditor checks your history there. Most forms of credit you apply for are not that thorough. they just check your score and income/employment.

 

[gwdriver]

CROWNVIC- My wife says it will not be reported. She should know. She is a high level exec with Trans-Union. She is very familiar with Citi-Banks reporting procedures.

 

[CROWNVIC4LIFE]

Originally Posted By: gwdriver
CROWNVIC- My wife says it will not be reported. She should know. She is a high level exec with Trans-Union. She is very familiar with Citi-Banks reporting procedures.


This is the first time something like this happened...I thank your wife very much [and everyone else here] for the info...I knew you all would have the answers as usual.

 

[willix]

Pay to pay then pay again. All is good as long as you pay.

 

[GROUCHO MARX]

Hey, if it's the first time something like this happened, Citi will reverse that 39 dollar charge if asked.

 

[CROWNVIC4LIFE]

Originally Posted By: GROUCHO MARX
Hey, if it's the first time something like this happened, Citi will reverse that 39 dollar charge if asked.


I'll give them call by the end of the week.

 

[HTSS_TR]

Originally Posted By: CROWNVIC4LIFE
Originally Posted By: GROUCHO MARX
Hey, if it's the first time something like this happened, Citi will reverse that 39 dollar charge if asked.


I'll give them call by the end of the week.

I agree, they may credit back to your account the $39 late fee, but the $39 for return check is pretty hard to ask for.

Also, no credit company will report late payment to credit bureaus if it's few days late.

 

[wallyuwl]

Something else to consider is checking your interest rate. They may have increased your interest rate to the "default" rate (usually about 25%). Again, ask for this to be brought back down the regular rate (in most cases 10-12% if you have otherwise good credit) as a "customer courtesy".

 

[XS650]

Originally Posted By: CROWNVIC4LIFE
Originally Posted By: GROUCHO MARX
Hey, if it's the first time something like this happened, Citi will reverse that 39 dollar charge if asked.


I'll give them call by the end of the week.


Smart move, I expect they will remove the late payment charge. It won't hurt to ask them to cancel the late check charge too. As long as the bad check didn't cost them anything and you are a good long time customer, they might do it.

Since I'm not perfect either, I have my Citi account set up to automatically draw the minimum monthly payment from my checking account. I always pay in full each month, but if something falls through or I have a brain [censored], at least I won't get stuck with a late payment. I don't care to have any company have the ability to tap directly into my checking account, so I plan to change things so my credit union automatically send Citi $100 each month instead of Citi drawing a payment. My minimum is never that high.

 

[saberz]

Actually it shouldn't affect your credit. I used to work in collections (2001-2002). You made the attempt to pay, and you paid it quickly there after. Usually if you are only delinquent(key here) for 30+ days can it be reported to the bureau.

Also you can call them and speak with them for re-assurance. I have been a citi-cards member for 10+ years and while they suck(due to interest rate hike) their service has been good and accommodating.

 

[Scienceman]

lol CROWNVIC4LIFE, I figured you went out and got another Vic when I saw this thread! seriousley though It shouldn't hurt you.

 

[CROWNVIC4LIFE]

Update....I called Citi Friday and asked if they would please give me credit for the late charge...At first whoever took my call [in India I believe] said no...I called right back and immediately asked for a supervisior...She agreed to give me credit for the late charge...I did not ask to have the returned check fee taken off as I did not want to press on luck.

Thank you everyone for your help and advice!