The issue is not one of a billing due date being on a non-business day, it is one of what happens if a date that is 30 days after the billing due date falls on a non-business day. CRA policy, and not any provision of regulation or law, specifies that a late payment does not become reportable to them as a 30-late until its period of delinquency has reached 30 days from the billing due date.
However, they are similar isues.
The CARD Act requires that if a billing due date falls on a non-business day, such as a weekend, then the payment must be considered timely if received on the next business day.
The CARD Act, however, does not specifically address the related but different issue of when a CRA must consider a delinquent payment as having reached 30 days past the billing due date, and thus reportable to a CRA as a 30-late.
Technically if a payment is not received within 30 days after the billing due date, it then becomes reportable to a CRA.
One could, however, use the reasonable argument that the CRAs should apply the same standard as that of the CARD Act when considering whether a delinquency has become a reportable 30-late, but the CRAD Act does not directly regulate the matter.
The FCRA does not address the issue of when a delinquency becomes reportable to a CRA.
I would contact the creditor and make the argument that they should not report the payment to the CRAs as late, using the parallel logic of the FCBA.
I would look into setting up autopay if it's available to avoid situations like this.
Also, why are paying $35 late fees every month? you are wasting alot of money every year, i hope you dont do this with all your bills!
Long story short, due to travel, this month our auto loan payment has had to fall late. It was due 06/29, payment scheduled to go out 07/28. 29th day late. It still has not left our bank or been posted with our loan bank (5/3). Next payment due Sunday 07/29 (already scheduled). Will we be 30 days late?????