Credit Tips: Late Credit Card Payment Tips

Posted On: January 1, 2006

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Posted: Mon Sep 27, 2004 12:21 pm
Post subject: Late Credit Card Payment Tips

Candace Gallagher
Date: 2/26/2001 3:19 am CDT

I have good credit and have never had a late payment, but last month one of my credit card payments was lost. I mailed it with the rest of my bills but it was never recieved. When I recieved my next bill and learned my payment hadn’t been received I called them and explained what happened but now my credit report will show a late payment. I’m very worried about this, especially because I was just about to apply for a lower interest card. Could I be turned down because of this, and how long will this remain on my credit report. Thank you in advance for your advice.
Sincerely,
Candace Gallagher

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Posted: Mon Sep 27, 2004 12:21 pm
Post subject: Late Credit Card Payment Tips

Dani
Date: 2/26/2001 10:18 am CDT

Candace,

I understand your concern, but most credit card companies will not post you late on your credit report unless you are at least 60 days behind. After explaining the situation with them, did they tell you they would post you as late on your credit report? Since you have never paid late I don’t think you have anything to worry out except having to pay the late charge and unfortunately the accrued finance charges.

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Posted: Mon Sep 27, 2004 12:21 pm
Post subject: Late Credit Card Payment Tips

Ira Stoller
Date: 2/26/2001 11:49 am CDT

Most credit card companies are very understanding if you have a good payment record. Have you called them to explain the situation? If not, do so immediately. Chances are they will remove the late charge, and in some cases even the finance charge. I wouldn’t worry about this going on your credit report. Almost nobody reports a cardholder late for missing just payment.