Credit Beuro reported to after one late payment?

Question

My credit card bill was only one day late. Would that show up at all on my credit report? This was my first time and I have always paid on time. Would it still show a "pays as agreed?"

Answer 1

NO they can NOT report you late "if they wanted too".  

The first negative mark is 31 days late.  Until you are 31 days they can not report you as such.  If they do they are violating the Fair Credit Reporting Act(FCRA).   Now, as a general rule the credit card companies use your due date as the "30 day late mark".  So if you miss 2 payments they will generally report you as 30 days late.  However, if you made a payment in February that does not have 30 days (for example) but you happen to pay it at 29 days you may be successful in having the 30 day late removed.  But in your case this does not matter because you were only 1 day late.

So your credit report will show as "Payed As Agreed".  Now, your CC company will charge you a late fee and may increase your interest rate because of you being late but that does not appear on your credit report.

Answer 2

It really shouldn't affect your credit rating at all, but don't be surprised if you get hit with a hefty late fee and maybe an interest rate increase.  If you have had a good record with them, call them and ask them to take off or reduce the late fee.  I have excellent credit and I've paid late once or twice.  If they hit me with a late charge, I've usually been able to get them to take it off or reduce it and it doesn't affect my credit rating/report at all.

Answer 3

no you must be 31 days late for you to get a late reported

Answer 4

I don't think they will but If I were you , I would get this payment out to them asap.  You need to know if you have a grace period.  Also, although technically late is late, meaning even a day, most places/companys report after you are a month late.  But what you should also know is that the credit card company also have an internal credit system (meaning they have their own credit standards) separate from the overall credit system, and they could drop your credit limit, cancel or close your credit due to being late.  You need to read your rules and regulations for your specific credit card.  Lastly, if an account is reported as late, and you eventually either continue to pay on it or pay it off, it will still show as being late, thereby damaging your credit and lowering your score.  It will only show paid as agreed, if you in fact paid as agree.

Answer 5

Based on computer automation...late is late. However since it's just 1 day I wouldn't sweat it. If' you're still anxious call your card company and make sure that this won't be reported and negatively affect your score.

Answer 6

Yes they will report it but they report monthly so try not to let it be late anymore, and it stays on your record for 7 years. It should still show pays as agreed but it will just show a late payment for that month.