Reply
Established Contributor
Posts: 767
Registered: ‎08-11-2008
0

payment posted a day late 20 poit plunge

Help, I a newbie so bare with me.
 
I made my payment online on the 1st of August.  I checked my scores and was astounded to see I was $98.00 over my limit and it looked like I had missed a payment.  My bill is due on the 28th of the month.  I paid on the 1st as I informed my ccc I would make my payment then.  Well I did it on line but it said I paid on the 1st but it posted for the 2nd.  I called the ccc and they told me a third party does their web payments.  We did a conference call with them and they acknowledged that i made my payment on the first but, couldn't give me a time and they felt it was closer to 2:00est and that's why it posted for the 2nd.  As great as their system is they could only say I defintely paid on the 1st but they didn't know the time. I am of course pursuing them to change this but right now nothing has cahnged on my score.  I am in the midst of trying to qualify for a mortgage.  I have been 10 straight months of no late and keeping my balances down now this.  Help!!! where else can I turn .

Starting Score: 685
Current Score: 685
Goal Score: 750


Take the FICO Fitness Challenge
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: payment posted a day late 20 poit plunge

If the bill was due on the 28th, and you paid on the first, then whether posted on the first or second, you'd still be late.
 
Which CC is it and did you have a late added on your CRs? If not on your CR, then I would worry about it.
 
Each CC has their own rules. I keep a list with me on what the rules are with each CC. HSBC, for example, requires payment by 4pm on the day prior to when it was due. My National City requires payment by 5pm on the due date, but you can't pay and be credited on Saturdays. YMMV.
 
If a late was added, you could fire off GWs to get them to change it.
 
A moderator here, masdeocho, made a great suggestion once. Pay the minimum immediately upon receipt of the statement or notification of a statement (if online). Then, that would give you flexibility to pay later at a higher amount, if so desired, and prevents you from forgetting that a payment was due.
Established Contributor
Posts: 767
Registered: ‎08-11-2008
0

Re: payment posted a day late 20 poit plunge

No late payment was added to the CR.  It just made it look like I was way over my limit.  The CCC is Continental (First Bank Of DE)  I got this card to reestablish credit.  I've been trying to get my score up to 650 in order to qualify for a mortgage.  I was at; exp 566 tu 541 & eq 521 now as of 8/2/08 exp 546 tu 527 eq 573.  I was hoping to see a steady increase. Since I have your eyes I have two CO's (HSBC)  8/06 & 3/05 They are now with another collection company that does not appear on my report.  Will a gw letter help or not?

Starting Score: 685
Current Score: 685
Goal Score: 750


Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.