Generally, your're not officially late, for purposes related to credit reporting and racking up a 30 day late, until the 31 day mark, but in the creditor's eyes, you are late and it's not uncommon for them to make your new minimum payment for the next statement for two payments, and so on. You should be fine.
@Househunter121 wrote:So as long as i paid the past due amount and late fee i should be ok as far as credit reporting goes?
Yes
Just reinforcing what Joe has already said... late payment reporting occurs 30 days after the payment due date. If I recall, for leases.. I don't believe there is a late fee added when a payment is made after the due date as lease payments are already 30 days advanced and include monthly lease fees.
When the leasing bank statements cut, you will see any additional amounts due automatically added to your statent including previous payments due, state or local taxes or registration fees paid by the leasing bank during that statement period and any other fees paid on your behalf during that same period.
As a side note.. Theoretically, you could only make the fixed monthly lease payment amount every month regardless of the what the statement says (ie; two payments due etc) and the account will be (and report) as current however... it may have effect the internal scoring (for auto lending) with that lender and the lease account will not close at the end of your lease until all incurred amounts/fees are paid.
@Househunter121 wrote:So if unpaid the past due amount and late fee on the 17th and then paid the regular payment(remaining balance) on the 28th I should be ok
If your regular payment was due December 28th, as long as you made that payment on or before January 27th (day30), you are good to go.... On January 28th (day 31), or after, you would have been considered, and reported as a 30 day late.