Does past due date = late?

[Focus]

I made a payment to Capital One that was processed 1 day after the statement Due Date. I know it means that it is late for them as they have charged me a Past Due Fee, but does that mean it will show up on a credit report as a late payment? Doesn't it have to be over 30 days past due to be an official late payment or how does it work?

[Anonymous]

I believe it has to be 30 days late to report late.

But the terms could have changed now. Read your terms and conditions, they might be charging a much higher rate now because the late.

[Anonymous]

As it was paid before the statement date but past the due date- the will charge you a late fee but will not mark you 30 days late on your CR.

---

@Focus wrote:

I made a payment to Capital One that was processed 1 day after the statement Due Date. I know it means that it is late for them as they have charged me a Past Due Fee, but does that mean it will show up on a credit report as a late payment? Doesn't it have to be over 30 days past due to be an official late payment or how does it work?

---

[Focus]

Bleh, yep I see they increased the rate. Argh, 1 day past the due date... Thanks for the replies.

[marty56]

Wells Fargo makes your account 30 days late if it not paid by the next statement date which could be 1 days after the due date.

BofA will wave the late fee if you pay on the due date but after the time of day cut off if your account is in good standing.  You must call them and let them though after you make the payment.

Message Edited by marty56 on 12-26-2007 03:17 PM

[Anonymous]

Capone will reduce the APR back down after 1 year-

[Anonymous]

---

Focus wrote:

Bleh, yep I see they increased the rate. Argh, 1 day past the due date... Thanks for the replies.

---

Call and ask if you can have a "good faith adjustment", they may give you one if you have never had a problem before.  Usually its a one time thing.

[Anonymous]

You should call and ask.

This is the debate I'm having with HSBC Auto on a loan that is already paid off.
I was never 30 days late but there are 5 on my reports. I assume they received the payment late when I mailed them in.

I paid off this car in 2 years so I was hoping for a little goodwill. But in 8 months I have so far received letters saying they aren't changing anything.

Call and check before you end up like me. (insert evil laugh here)

[marty56]

I paid off this car in 2 years so I was hoping for a little goodwill. But in 8 months I have so far received letters saying they aren't changing anything.

Call and check before you end up like me. (insert evil laugh here)

You laugh but it seems we would have more success if our account went to a CA and we did a PFD or we paid less then we owe.

It seems "late" + PIF + interest < CA + PFD

Almost makes me wish I had welched on my BofA account and it went to a CA.  Almost.

[Anonymous]

Wasn't meant like that...

But if you have those issues with lates then you should try calling and see what happens. HSBC reps keep telling me to send letters and I get no responses except the letters saying everything is verified and they're not changing it. Even though I sent proof I wasn't 30 days late.