Costco

Well, shit. I just deposited my check on Friday, which happened to be the same day that my credit card payment was due. Didn't remember exactly when payment was due and I lost track of time and wasn't able to make the payment the same day.

This is my second credit card, third if you count a co-signed card I had with my dad. So I have no interest payments on this until Oct. 2007 but my dumb ass forgot to make the payment on time (yesterday). I also just made another transaction after the late payment due date. I'm gonna pay off the full amount today but it says its not going to be delivered until June 18. I didn't go over the limit either, btw.

What's gonna be the side effect of this? Will this hurt my credit rating? Interest rate? If I ask about my credit rating or interest rate, will it hurt either one? I don't wanna have my interest rate leap to 30% nor resort to using my other crappy card with a relatively low credit limit.

Pretty lame for a Money & Investing topic but I'm curious, what is the bottom line?

doopstr

A payment received less than 30 days late won't effect your credit rating.

However, depending no how much of a prick your CC company wants to be, you can expect a late fee charge and possibly a higher interest rate. You will need to see the details of your card member agreement. 0% interest agreements could be dependent on your making payments on time. So yeah, it could jump to 18% or higher.

Now if you get a late charge you should call them and see if they can forgive your tardiness since it was the first late payment. They usually go for that.

moeronn

^^

Call them up and let them know the payment is scheduled to clear on 6/18 and it was a minor miscalculation on your part. They'll review your history and see it isn't a common occurance. They'll most likely let you slide on one late payment. If they don't mention it, then ask them if it will affect your interest - it won't hurt you.

jmathew34

assuming you've paid all your payments in full previously, just call them up and tell them it's 1-2 days late..they shouldn't have a problem with it...good luck

MR1

You should make that call now! Most credit card companies have customer service seven days a week.

JJ4Short

matters who they are
I forgot my payment was due so I paid it the day off but you have to pay an extra 15 dollars to post the payment the day of. Of course I said fuck that, paid it and had to make it post the day after. I got a late fee, and interest went up. Called them the day after and thats how I found out. They have no grace period and push it up and don't make exceptions even though i had never had a late payment.

Moral of the story, paid the card off a few days later, closed the account
Fuck Chase.

gatrhumpy

iTrader: (1)

I agree with most of the people on here. Just call them and tell them to put a note in your file saying that the payment will be a little later and ask them to waive any extra fees and a higher interest rate. If they're worth a shit, they'll agree.

MR1

My experience with Chase has been just the opposite. Every 6-12 months I might screw up. I call them when the next statement comes and they reverse the charge as a courtesy. I also call and usually get the rate lowered once a year. Of course I've had the account more than 10 years and generally don't miss any payments. Long track record of no missed or late payments makes a difference.

JJ4Short

I am a 23 year old, although I have a great credit record (only one 30 day mark that I got when I was 18 with a macy's card) I guess I didn't have a long enough history with them or established enough income (working part time college kid at the time) so they gave me the big fuck you.

MR1

Can happen to the best of us. My message should have been - hang in there, it will improve if you help it and take a little shit if you deserve it. Maeby you shouda paid that $15 fee?

They also have/had a cut off time of like 2pm eastern. I live in CA and have had to call & yell at them a few times about that BS. But again, I could have paid it the day before.

Hope that the Macys card went byebye. The interest rate on those store cards generally suck and they are really fast to charge a late fee and report you.

moeronn

Macy's is by far THE WORST credit card company I have ever dealt with.