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75
New Visitor
Posts: 1
Registered: ‎06-14-2010
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returned payment of credit card: affect credit score?

On one of my credit cards I tried to set up a different bank account the make online payments from.  There was a typo on the account number, so there was a returned payment with a fee.  I was able to see this in time and pay off the full balance before any payment was due, so there was no late payment.  I recieved a letter that my APR will be increased because this triggered a penalty.

 

I was wondering if this returned payment is something that will be reported to the credit bureaus and will it affect my credit score?  We are in the mist of closing on a house and I dont want this to ruin everything!

Moderator Emeritus
Posts: 32,865
Registered: ‎08-04-2007
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Re: returned payment of credit card: affect credit score?

I'm sure your OK. Returned checks aren't reported to the big 3, unless that payment or the defaulted account were to ever go to collections. Since you made good for it, it'll never appear. There is a very small possibility that'll report to Chexsystems but it's likely your lender won't even look at that report.

 

After you close, you can always send a letter to the CCC explaining and ask for the rate to return to the lower level. However, I certainly wouldn't do this before you close out of worry that the CCC would interpret the letter as a dispute.

Regular Contributor
Posts: 204
Registered: ‎02-19-2008
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Re: returned payment of credit card: affect credit score?


75 wrote:

On one of my credit cards I tried to set up a different bank account the make online payments from.  There was a typo on the account number, so there was a returned payment with a fee.  I was able to see this in time and pay off the full balance before any payment was due, so there was no late payment.  I recieved a letter that my APR will be increased because this triggered a penalty.

 

I was wondering if this returned payment is something that will be reported to the credit bureaus and will it affect my credit score?  We are in the mist of closing on a house and I dont want this to ruin everything!


In my experience, the credit card company has waived the fee for that, and also reversed the decision to increase the rate. I would certainly contact them and explain what happened. As long as you're a good customer otherwise, they should waive both of those adverse actions. Good luck.

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: returned payment of credit card: affect credit score?

Ask them to waive the fee if this is the first time you had a check to return with them.

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