A question about late payments.

[Meanmchine]

Hi everyone

My question is how long do late payments ( 1 - 29 days ) factor into your credit score and how long are they reported ( i think that they never fall off )

I got really miffed today at Cap1.  I tried to get a CLI on my 8 year old account and was denied because i had 1 late payment in the last 12 months. I explained to the rep that the late payment was due to the fact that for Target, my payment due date was christmas day 12/25 and the payment i made on 12/24 didnt post til 8 am 12/26. The rep was unimpressed.  I then told her to look at my account and tell me how many times ive been late. She said going back to 2010 i was only late once. I asked her how many times a payment of mine failed to clear and she said never. All she said was that if u have a missed payment anytime in the past year, thats an automatic reject for CLI.  I controlled myself and abruptly said thankyou and hung up.

Does fico scoreing get impacted by 1-29 day lates and how much so if it does..Thanks

[Pway]

Late payments are reported after one is late over 30 days.  In that case you was not late enough to where it would have been reported by Capital One to the 3 cb's.  Moreover, each lender has internal scoring and this is affecting your reason that they will not give you a CLI.  However, according to Capital One you as late.  They have a cut off time for payments.

[Meanmchine]

Maybe i didnt explain myself fully.

Cap1 pulled my report

Target showed me as being 1 day late ( due to xmas )

Cap1 said to me that Target showing me 1 day late was enuf to kill the CLI

Cap1 acct history  --  in 8 yers only late once with Cap1 and never had a payment to them bounce

[RobertEG]

If you were one day late on a payment, it should not be reported to a CRA, period.

You are late under yout account agreement if one day past the due date, but that does not make it reportable to a CRA.

A creditor can assess late charges or use it as basis for other actions, such as denail of a CLI, but they woud not be aware of lates on any account other than their own unless the lates were reported to a CRA.  A late must extend to at least 30 days past the billing due date to be reportable.

Thus, they would not be aware via a pull of your credit report of any late with another creditor that was 1-29 days past the billing due date........

[RonM21]

So is this actually showing on your report? Because going by the above posts, it sounds as if it could be disputed, if I'm understanding correctly.

[Meanmchine]

I am ASSUMING this .....  I have  copy of my Equifax report.  For Targets TL entry for 12/15 it shows Payment Due

Date of 12/25 and the Date of Payment as blank. Im assuming this is what they are looking at.  I Have NEVER aged 30 days in the last 6+ years.

If that is  not the case, then it might be a stupid CA.  With the exception of 2 small medical bills i am disputing ( they took forever to bill my insurance and became time barred) maybe its one of them. but those CAs have seen no activity from me for alost 7 years

Im not upset as having a missed payment ( 1-29) on my record.  I did miiss the due date thanks to xmas.  What got me miffed is Cap1 refusing to review MY file with them and taking into account 8 years of a near perfect relationship

[Anonymous]

It's very frustrating, but I'd think with the holiday you can have them remove that remark from the account (on their end) so that you'd be ok for a CLI.  You will likely need to speak to someone above the CS level, since all they will give you is "the rules are the rules" type answer.