HELP!!!! Missed a payment by a day! Please advice

[Anonymous]

Morning all, 

for some reason I missed my new Amex's BCED payment by a day, as soon as I realized I PIF as I always do, unfortunately by time I made the payment I had already been assessed the $27.00 late Payment fee, well the $27.00 I can live with, what I can't is knowing I'm going to tarnish my perfect on-time payment history that I have maintained for all my accounts, so this makes me ask, since I have been assessed the fee, does this mean I will have a late payment reported to the CRA's? or since the payment was made before the statement's cut of date (06/19) will it show as paid without it being marked as late? in the event of it being reported as late, is there anything I can do to have Amex reconsider?

[baller4life]

It will only report late to bureaus if you are 30 days late. So you are good there. It only affects you internally with Amex as far as future clis or apr reductions. If I were you, I would call and explain what happened and ask for late fee to be waived.

[AverageJoesCredit]

Account has to be 30 days late to be reported to credit bureau. I think most here will say it may just affect you eternally with Amex, possibly affecting future cli etc. It happens to the best of us. Perhaps you can call Amex and explain what happened . Just learn from it and everything will be ok. Good luck with everything

[takeshi74]

Too late now to do anything about it but you can take measures to avoid this in future and you want to do whatever it takes to avoid lates.  Set reminders, use autopay to cover at least the minimums if that would help you, etc.

As stated above, lates are generally only reported at 30+ though you can incur fees, penalty APR's, etc.

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@Anonymous wrote:

for some reason

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Figure out that reason and address it.

[CluelessJohn]

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@baller4life wrote:
It will only report late to bureaus if you are 30 days late. So you are good there. It only affects you internally with Amex as far as future clis or apr reductions. If I were you, I would call and explain what happened and ask for late fee to be waived.

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Absolutely call them.  If you've got a good track record of on-time PIF I've always received the love of a waived fee.  Do it ASAP though.

[DrZoidberg]

One day late isn't a big deal. Sometimes I am late in the sense that my bi-weekly schedule gets thrown off. 

[Anonymous]

A late fee is a lot better than a late payment on your credit report... just chalk it up to a lesson learned.  No need to worry about it hitting your reports though as you weren't 30+ days late.

[jim44]

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@takeshi74 wrote:

Too late now to do anything about it but you can take measures to avoid this in future and you want to do whatever it takes to avoid lates.  Set reminders, use autopay to cover at least the minimums if that would help you, etc.

As stated above, lates are generally only reported at 30+ though you can incur fees, penalty APR's, etc.

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@Anonymous wrote:

for some reason

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Figure out that reason and address it.

 One thing to remember when late on payments on promotional purchases.   In the past some lenders accelerate the accrued interest from the inception of the promotional purchase if a customer is late on a payment. At least that was true in the past with some lenders.  Happened to me once... never again. 

[Anonymous]

Just call them and explain. Since it's first time definitely they will waive the late fee. Don't sweat too much on this. Nothing is going to impact on your credit report, except your internal scoring with amex..

[RonM21]

I'm with everyone else. Call them, in hopes of keeping them from holding it against you down fhe road.