Good technique/#for Chase GW on a late?

[Anonymous]

During my broken laptop debacle, my finance management took a hit, one thing being my Outlook Alarm to pay Circuit City Chase. I did so 3 days late.

My other card said don't worry we only report after 60. Is Chase the same and if not will a GW letter to them help and if so what is the best #/mail to send to?

Thanks in advance.

[Anonymous]

I believe that a lender only reports a 30 day late to the CRA after you've actually been 30 days late. Since you were only 3 days late, I think you are probably in the clear CR wise.

However, you might want to call Chase and see if they can take the notation off of your account so it doesn't prevent you from future CLIs.

[Anonymous]

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@Anonymous wrote:
I believe that a lender only reports a 30 day late to the CRA after you've actually been 30 days late. Since you were only 3 days late, I think you are probably in the clear CR wise.

However, you might want to call Chase and see if they can take the notation off of your account so it doesn't prevent you from future CLIs.

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I asked HSBC about that when late for the same reason; they said 3 days late is really 33 days late since it is 30 days after the bill, i.e. by the time your bill is due, you are already a month behind when it is calculated.

I will call and see if they can remove the notation though, thanks.

[voidman]

use online calender instead like google calender, they are quite useful, I use it for reminder purposes and plan things like when to pay the creditcard before the statement cuts so that I show low util.

(no i dont work at google, wish i did)

Message Edited by voidman on 07-08-2008 09:38 AM

[USC08]

I usually set all my payment due dates for my CC's on the 25th or 26th. That's more convienent for me since I get paid on the 15th and 30th. Usually my statment ends in the beginning of the month so I know what to expect as far as util.

[Anonymous]

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FretlessMayhem wrote:
I believe that a lender only reports a 30 day late to the CRA after you've actually been 30 days late. Since you were only 3 days late, I think you are probably in the clear CR wise.

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Although this is the way it should work, it should be noted that it doesn't always work this way.

Some creditors will report 30 days late once you enter the next billing cycle after the due date, even if it's far less than 30 actual days.

[Anonymous]

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nyccc2 wrote:


I asked HSBC about that when late for the same reason; they said 3 days late is really 33 days late since it is 30 days after the bill, i.e. by the time your bill is due, you are already a month behind when it is calculated.

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Yes, this is the logic that many creditors use, flawed as it is.

The idea is that since each payment cycle has terms of approximately 30 days (really more like 25), if you are late at all, then you have exceeded the 30-day terms on that cycle.  They will then report a 30-day (which they interpret not as "this consumer was 30+ days late" but as "this consumer took more than 30 days to pay.")

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
I believe that a lender only reports a 30 day late to the CRA after you've actually been 30 days late. Since you were only 3 days late, I think you are probably in the clear CR wise.

---

Although this is the way it should work, it should be noted that it doesn't always work this way.

Some creditors will report 30 days late once you enter the next billing cycle after the due date, even if it's far less than 30 actual days.

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Thanks. Any idea how Chase handles this, i.e. will they, unlike HSBC, report this as 30 days late? I called HSBC who said no worries, we report if 60 days (which is really more like actual 30 days). If I'm 3 days after Due Date will they report and if so who do you think I should call / GW?

[n2win]

My previous mortgage was with Chase and in March '07 I sent a payment that somehow took 7 days to get from Tucson to Phoenix and caused the payment to credit on the 17th, incurring the late charge (of course) and also a "30 day" late reported to all CRA's for that account 

New lender (and better payment method) now