Reply
Established Member
Charlington
Posts: 21
Registered: ‎10-26-2009

Re: CC Late Payment

IMO, i would rather you use the FP's website and pay a fee than be late. Besides, if you happen to be late, they would not only charge you a late fee, they would also report it to the credit bureaus
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: CC Late Payment


Charlington wrote:
IMO, i would rather you use the FP's website and pay a fee than be late. Besides, if you happen to be late, they would not only charge you a late fee, they would also report it to the credit bureaus

Only 30-day lates are supposed to be reported to the CBR's. In this case it would be a 1-day or 2-day late. It is, however, not a good idea to be late in any manner with the OC at any time, for any reason!

Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: CC Late Payment

[ Edited ]

IME, many CCC's can clear a payment overnight:

 

CapOne

BoA

NFCU

USAA

AMEX

 

These all regularly clear next day when I initiate a payment on their website.  So don't assume that it will take 2 days.

 

OP:  If your CC is FP, then the limit is most likely a relatively low CL, meaning your minimum payment due is relatively low.  IMO, you need to figure out how to have the money "left over" from previous check or just make the payment with the previous check (assuming you get paid 2x per month).  You don't have to wait till the day due to make your payment.

 

If you end up with NSF you will get hit with fees on both ends for the NSF, plus a LATE fee on FP, etc.  And if you are avoiding FP web pays due to fees, I don't see "floating" payments as a good idea.

 

I would just get the schedule adjusted 2 weeks prior so that you are making the payment on the 1st rather than 15th.  And if you are so close check to check that you can't, I recommend selling something or getting another part time job till you get things paid down.

 

Do you have any emergency cash?  If so (and you really should) pay the minimum payment due out of the emergency fund, and when you get the DD pay check, pay the emergency fund back.

 

The point I am making:  you need to get some breathing room, both in time of payment made and in discretionary income and emergency funds.

 

Good luck!

 

:smileyhappy:

 

Message Edited by txjohn on 12-30-2009 06:50 AM

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+