If you bring an account current before its reported that month, will it still show a 30+ late payment because of a returned payment?
Creditors cannot report 30+ lates as long as the current minimum payment due was received and credited by 30 days after the missed due date. If you are saying that you missed the 30 days after the original due date but got the payment in during the few days before the statement actually closed, that would be up to the lender whether to let it pass or not, and of course there would be an additional late fee and interest incurred. Note that many creditors are very unforgiving when it comes to returned payments.
@K-in-Boston wrote:Creditors cannot report 30+ lates as long as the current minimum payment due was received and credited by 30 days after the missed due date. If you are saying that you missed the 30 days after the original due date but got the payment in during the few days before the statement actually closed, that would be up to the lender whether to let it pass or not, and of course there would be an additional late fee and interest incurred. Note that many creditors are very unforgiving when it comes to returned payments.
To give more detail to this, payment was due Dec 11, 2023. I was tight on money so pushed it back, then Jan 11, 2024 due date was obviously a higher amount. On Jan 8 my payment posted, but then apparently was returned as well. Then January 10th I even got an email saying payment was recieved. Today Jan 12, 2024 I scheduled another payment. It seems Discover reports the 16th or 17th of every month.
I am showing a payment good standing for december on my report, and just wondering the possibility of me making this payment, bring account current and then it being reported for my January payment on time if any of that made sense. Just stress posting at this moment looking to see if anyone went through similar scenarios.
@OniStringer wrote:To give more detail to this, payment was due Dec 11, 2023. I was tight on money so pushed it back, then Jan 11, 2024 due date was obviously a higher amount. On Jan 8 my payment posted, but then apparently was returned as well. Then January 10th I even got an email saying payment was recieved. Today Jan 12, 2024 I scheduled another payment. It seems Discover reports the 16th or 17th of every month.
I am showing a payment good standing for december on my report, and just wondering the possibility of me making this payment, bring account current and then it being reported for my January payment on time if any of that made sense. Just stress posting at this moment looking to see if anyone went through similar scenarios.
On your reports, showing that the account was in good standing for December simply means at that point your account was not 30 or more days past due. Minor late payments cannot be reported to the credit bureaus, but they can of course incur late fees, loss of grace period and resulting interest, and other adverse action from your lender such as credit line decreases or even closure. Your December payment was due one the 11th and payment was made 32 days later on January 12th, so the account was 30+ past due at that time.
Again, it's up to the lender as to how they will report that. At the time that you made the payment you were indeed 30+ late, however at the time of reporting your account will be current. It comes down to whether they report the status of the account when your statement was issued or the status of the account on the date they submit information to the credit bureaus. Discover is generally a forgiving and lenient card issuer, so I'm hopeful that in your case they will go with the latter but no one will be able to tell you for sure unless they've experienced the exact scenario you've described with Discover (which I understand is what you were asking with your original post). I wish you luck, and please let us know how it turns out.
@K-in-Boston wrote:
@OniStringer wrote:To give more detail to this, payment was due Dec 11, 2023. I was tight on money so pushed it back, then Jan 11, 2024 due date was obviously a higher amount. On Jan 8 my payment posted, but then apparently was returned as well. Then January 10th I even got an email saying payment was recieved. Today Jan 12, 2024 I scheduled another payment. It seems Discover reports the 16th or 17th of every month.
I am showing a payment good standing for december on my report, and just wondering the possibility of me making this payment, bring account current and then it being reported for my January payment on time if any of that made sense. Just stress posting at this moment looking to see if anyone went through similar scenarios.
On your reports, showing that the account was in good standing for December simply means at that point your account was not 30 or more days past due. Minor late payments cannot be reported to the credit bureaus, but they can of course incur late fees, loss of grace period and resulting interest, and other adverse action from your lender such as credit line decreases or even closure. Your December payment was due one the 11th and payment was made 32 days later on January 12th, so the account was 30+ past due at that time.
Again, it's up to the lender as to how they will report that. At the time that you made the payment you were indeed 30+ late, however at the time of reporting your account will be current. It comes down to whether they report the status of the account when your statement was issued or the status of the account on the date they submit information to the credit bureaus. Discover is generally a forgiving and lenient card issuer, so I'm hopeful that in your case they will go with the latter but no one will be able to tell you for sure unless they've experienced the exact scenario you've described with Discover (which I understand is what you were asking with your original post). I wish you luck, and please let us know how it turns out.
Definitely playing with fire, been a rough few months with work and such. Getting all fixed up and re situated now. I managed to speak to someone on the phone, and on their chat. Both said the same thing (which I assume is good in the chat, as its in some form of writing. I made a scheduled payment on the 12th, in the amount necessary. They said as long as that payment actually goes through this time, which it will. Money is there, using my old bank that is all accurate information and such. As long as it goes through it will not be reported negatively. I expressed to them that was my biggest concern, and they assured me in some form of writing through chat that it will not be. So let me just pray that goes my way. Been a stressful time.
Update: Was checking my reports on Experian, and it showed under Equifax section that my most recent late was 1 month ago. Immediately made me nervous, so I did the free trial with experians website to get an updated report and such. It then updated all 3 of my reports, and it no longer showed that my most recent late was a month ago. It also doesnt show me late on equifax at all on their website either, so it was kind of weird. Maybe it was reported late? But since I had previously communicated with them it was fixed as they said it wouldnt be reported negatively? We will see going forward, but looks good?
Now for my experian report. It shows that I am 100% on payments, check marked in Dec 23 & Jan 24. I still have them telling me in writing it wouldnt be reported negative, going to hold on to that. But seems I am in the clear and got lucky? Communication seems to be a very good thing to always have when in a tricky situation. Here is a photo as well showing my payments reported on time, even though i was techinicaly 33 days past due. Due on Dec 11, 2023. Latest payment was Jan 14, 2024.
Hope this helps anyone in the same situation down the road to a general extent.
