S**t, never thought that I would ever be writing a post like this... but this morning I realized that I missed the payment due date on my BofA Travel Rewards by 2 days (due date was 05/07 and today is 05/09).
This was one of the few cards I enjoyed 0% APR on and it seems that it made me too way relaxed about it
I immediately transferred a minimum payment from my BofA checking account and scheduled a bill pay for a larger amount from Citi.
What I'm really concerned now is what concequences will I have:
1) Will this unfortunate mistake somehow make its way to my credit report? Is it technically a 2-3-days late? Or do they count from the day the last statement has been generated?
2) Will it automatically and immediately cancel my 0% APR, so that I'll have to pay the whole debt off in full?
And I'm frankly a little bit pi**ed by BofA. They keep sending me some promotional surveys and other junk emails, but unlike Discover or Amex they haven't sent me a single reminder about my payment due date approaching...
Thanks a lot!
You'll probably get charged with a late fee, but your credit report and score won't take a hit as long as it's under 30 days.
there wont be a late on your CR.
however any promotion you have now will be cancelled.
your APR will be moved to the highest rate and you will be charged a late fee.
you can always call the bank and ask them to cut you some slack if this is the 1st time.
Well, if it doesn't make way to my credit report, then I'm fine.
Will anyway try to fight any fees as it was the first time I ever have a late payment and just use this as a reason to pay off one of my high balance cards. I was not planning to do it until August (when my 0% APR should have ended anyway), but if this promo is cancelled now, I see no reason to keep the balance on that card anyway.
As soon as I get my next paycheck, I'm paying the card off :-)
Thanks a lot for your input!
You should really set up automatic payment of at LEAST the minimum payment due for your cards to prevent anything like this from happening again. Hope BOA works with you on this!
this is why you set auto-pay for at least the minimum payment amount.