Discover Missed Payment/CLI

Anonymous · ‎01-10-2016

I recently just missed a credit card payment and it hit my CR. I thought I had paid it off and didn't check the next month. It was my fault and I take responsibility. But with that being said, how long do I have to wait to request a CLI though their site? How long do you think it will take before they will give me a CLI?

Or do you think it is a factor of my credit score from a soft pull? Do I just need to wait a little bit for that missed payment to get older so my CS goes up?

The month that I missed was October of 2015. So it is pretty recent.

FinStar · ‎01-10-2016

Yikes. It's anyone's guess since it would reflect in two places - your CRs and internally (which doesn't look favorable from a CLI standpoint). Maybe someone who's been in your shoes can elaborate? Or, you can contact Discover to determine how soon you could request a CLI given the recently reported late payment.

Anonymous · ‎01-10-2016

I have thought about calling them but given how recent it is, I don't think they will tell me much except that I can try again later. I know they are very conservative, so I am very worried that they will hang this over my head for quite some time.

Anonymous · ‎01-10-2016

i'm curious how long did you miss for the payment? j/w

if you miss it by a day or so, it's understandable. worse case is you get a late fee and APR (which if its first ever, you can see if they'll (generally they do) waive the fees).

If it is for a whole month--its really hard to excuse--and anything over 30 days gets reported...

your credit will take a ding and that is what would probably hinder you from getting a CLI easily.

But if its less than 30 days late (the payment), I wouldn't worry too much.. and you can always ask for a CLI via the button on your dashboard when you log into Discover, its always a soft pull unless they state otherwise

Anonymous · ‎01-10-2016

It reported. It was 30 days late. I always keep it paid off, that is why I thought it was. Just a stupid mistake on my part. I haven't missed a payment in years and my credit defnitely took a ding. Looks like I won't be applying for new credit for at least a year

elim · ‎01-10-2016

If you are a good customer and it was a tiny amount that was left over from PIF before statement cuts (late charge in cycle), you may be able to call and have help removing it. It definitely can't hurt to try.

I suggest Prism money or Mint bills to help with this never happening again.

NRB525 · ‎01-10-2016

I suggest setting up autopayment on all cards that have any low charge possibility. Set it for "minimum payment", or a significant amount like $200 or $300, and the CCC has your back every month.

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Kenny · ‎01-10-2016

I'd definitely call and ask for goodwill removal.

As far as CLIs go.. use it/pay it off - and they will reward you shortly.

Take the myFICO Fitness Challenge

takeshi74 · ‎01-11-2016

@Anonymous wrote:
I recently just missed a credit card payment and it hit my CR. I thought I had paid it off and didn't check the next month. It was my fault and I take responsibility. But with that being said, how long do I have to wait to request a CLI though their site? How long do you think it will take before they will give me a CLI?

No telling. A late (especially recent) will certainly have an impact on any credit decision -- not just with Discover but with other creditors as well. Make sure you're actively monitoring all your accounts and doing whatever it takes to avoid lates and other derogs. If you would benefit from auto pay then make use of it. See if you canget goodwill removal.

@Anonymous wrote:
Or do you think it is a factor of my credit score from a soft pull?

The score is generated based on the data in the report. A late will factor in. It doesn't matter if it's a soft or hard. It's on your reports and Payment History is the biggest factor.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Anonymous · ‎01-11-2016

OP said it was on their report, which means that it is at least 30 days late. That seems like it is a pretty big issue. I'd try calling and seeing if you can get it goodwilled off, but I'd cool my jets on CLIs for six months and let it age a bit.