Late Payments

[middleaged]

Unless, a miracle occurs before 3 p.m. today, I will have my first late credit payments in 20 years -- AMEX and Home Depot.  How bad will this hurt me?  My score was just over 700 last time I checked it.   I am at my limit for AMEX, but Home Depot am under 50% usage.  Can I do anything? 

[thrasher865]

When you say you will have your first late payments, do you mean the statement due date was 30 days ago today?

If your bill is due today by 3:00pm then don't fret too much.  Of course this is bad, you will pay late penalties and may get hit with a rediculous APR, but it will not affect your credit report until it is 30 days late.

If it will be 30 days late today, then I have no clue, but I would guess 30 - 50 points initially, gradually fading with time.  On a report with 0 lates, the first lates will be a pretty severe impact, I believe.

[middleaged]

Thank you for your comments.    Payments are due today.   Will they report as late?

[middleaged]

Statement due date is today.

[elaine829]

If its not 30 days late it wont be on  credit report, if payment is just late you will just get a late fee and maybe a interest rate jack.

[Wolf3]

Is AMEX a credit or charge card?

[DI]

If you get charged a late fee by AMEX and Home Depot, ask to have the fee waived as a one time courtesy.   You can call or send AMEX an email.  I'm not sure about HD.

[middleaged]

It is a credit card.