topic Re: Late Payment Damage Control in Credit Cards

Late Payment Damage Control

ficojoe — Sat, 08 Feb 2014 19:14:54 GMT

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?

Re: Late Payment Damage Control

Vegas247 — Sat, 08 Feb 2014 19:19:02 GMT

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!!!!

Re: Late Payment Damage Control

asphaltcowboy — Sat, 08 Feb 2014 19:20:28 GMT

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

the first time, good luck

Re: Late Payment Damage Control

myjourney — Sat, 08 Feb 2014 19:38:09 GMT

@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

Re: Late Payment Damage Control

indiolatino61 — Sat, 08 Feb 2014 19:39:16 GMT

@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.

Re: Late Payment Damage Control

Anonymous — Sat, 08 Feb 2014 19:43:48 GMT

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.

Re: Late Payment Damage Control

ficojoe — Sat, 08 Feb 2014 20:10:39 GMT

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

Re: Late Payment Damage Control

Anonymous — Sat, 08 Feb 2014 20:37:47 GMT

@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.

Re: Late Payment Damage Control

HeilFico — Sat, 08 Feb 2014 22:44:53 GMT

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.