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Frequent Contributor
Posts: 313
Registered: ‎07-21-2012
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Late Payment Damage Control

Is there anything that can be done about a late payment? I accidently had 4 of them. I just got busy and didn't yet have auto-pay setup. It is setup now. 2 lates on 2 different brand new chase accounts and 2 on discover. Auto-pay is now setup.

 

Am I out of luck for CLIs in the future? Should I call them? Should I just suck it up and see what happens in the future?

Established Contributor
Posts: 802
Registered: ‎01-20-2014
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Re: Late Payment Damage Control

You should be able to explain.....I would call and ask for forgiveness asap! They can reverse it to not show lates, especially the 1st time......don't let it happen again!!!!

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Valued Contributor
Posts: 1,250
Registered: ‎02-03-2013
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Re: Late Payment Damage Control

I would call them and explain, if your not over 30 days late, most will waive the late fee

the first time, good luck


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Senior Contributor
Posts: 30,824
Registered: ‎02-07-2013
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Re: Late Payment Damage Control


ficojoe wrote:

Is there anything that can be done about a late payment? I accidently had 4 of them. I just got busy and didn't yet have auto-pay setup. It is setup now. 2 lates on 2 different brand new chase accounts and 2 on discover. Auto-pay is now setup.

 

Am I out of luck for CLIs in the future? Should I call them? Should I just suck it up and see what happens in the future?


Start with GW's and hope for the best.

CLI's may suffer for awhile and late fees may result Smiley Sad

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Valued Contributor
Posts: 1,599
Registered: ‎11-10-2012
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Re: Late Payment Damage Control


ficojoe wrote:

Is there anything that can be done about a late payment? I accidently had 4 of them. I just got busy and didn't yet have auto-pay setup. It is setup now. 2 lates on 2 different brand new chase accounts and 2 on discover. Auto-pay is now setup.

 

Am I out of luck for CLIs in the future? Should I call them? Should I just suck it up and see what happens in the future?


If it was under 30 days, it will not show as late on your CR's, but it will still show internally. IMO, many situations can be smoothed-over with a call. Explain what happened, explain that auto-pay is now set up and perhaps they will delete your lateness error. The best of luck to you.

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Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Late Payment Damage Control

Call them and try to have the late fee waived. Most lenders will waive 1 late fee every 12-24 months, so you will still need to pay 1 late fee for chase and discover each.

Yes its going to affect your auto CLI odds in the near future. Make sure you are not late again or have any sort of issues, such as payment being bounced, with your account. Any more issues on top of this for a brand new account is very likely to result in your accounts being closed.
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Frequent Contributor
Posts: 313
Registered: ‎07-21-2012
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Re: Late Payment Damage Control

To clarify, in all four cases this was a matter of days, not longer periods of time.

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Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Late Payment Damage Control

[ Edited ]

ficojoe wrote:

To clarify, in all four cases this was a matter of days, not longer periods of time.


that's how I interpreted it as. for now, you are fine. just call them to waive some of the late fee. you probably still need to pay each lender 1 late fee, so that's about 35 dollars each. they may have removed your 0% promo financing and hiked you up to the penalty rate, so try to have them reverse it as well. Generally they are pretty negotiable about this since this is your first time.

 

however, avoid such scenarios again in the near future. You risk having your accounts closed if it happens again, mostly because the accounts are just so new.

 

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Regular Contributor
Posts: 240
Registered: ‎02-03-2013
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Re: Late Payment Damage Control

[ Edited ]

Call Chase ASAP. On the terms and conditions they advise that they reserve the right to jack up the APR to 29.9% INDEFINITELY if you are late. Discover is much more forgiving and actually advertise as such. I would still ring them as well just so they can document it.

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