Discover Card minimum payment 3 days late

[Anonymous]

Hi everyone! My chip on my debit card didn't work at a store so I used my discover card. I stupidly forgot about it, and missed a payment of $20 by 3 days. I called discover and they said I wouldn't be charged for the late payment but it would be reported to the credit bureaus. Am I screwed? I've been building my credit and never had a late payment until now. I feel like such an idiot for forgetting. I’m setting up autopay as soon as my payment posts.

I heard that only 30 day lates are reported, but they specifically told me that it would be reported and there’s nothing that can be done about it In another forum, someone with a Victoria’s Secret credit card had a one day late payment reported and their score dropped. Anyone had a less than 30 day late payment with discover before?

[Anonymous]

Don't worry too much, it won't be a big impact, few points max.

[Pikaboo-icu]

Welcome to My Fico.  

Yikes,, sorry..

No, a payment that is less than 30 days late will not be reported to or by a CB.

There is NO category for 3 days late- 30 days is the reporting threshold. 

That said; Disco will have it in your internal file and it can affect future clis etc.. 

[Jnbmom]

Yes  Pikaboo-icu is correct, they will not report you for 3 days late, it has to be 30 days late for them to report you, internally it could hinder you down the road.

But the other poster mentioned a recent 30 day late would cost you very little points, I disagree there. A recent 30 days late will cause your score to drop if that's your only negative!!

[Pikaboo-icu]

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@Jnbmom wrote:

Yes  Pikaboo-icu is correct, they will not report you for 3 days late, it has to be 30 days late for them to report you, internally it could hinder you down the road.

But the other poster mentioned a recent 30 day late would cost you very little points, I disagree there. A recent 30 days late will cause your score to drop if that's your only negative!!

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  Yep and sadly it's a pretty BIG drop.. 

[Brian_Earl_Spilner]

Welcome to the doghouse. I was 1 or 2 days late for something like $11-12. My secured discover is still secured at 18 months. I called and they acted like I shouldn't be surprised despite 17 months of good history, 12 of which in a row after the fact. They also won't approve me for a new card. It wasn't reported to the bureaus though.

[Brian_Earl_Spilner]

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@Pikaboo-icu wrote:

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@Jnbmom wrote:

Yes  Pikaboo-icu is correct, they will not report you for 3 days late, it has to be 30 days late for them to report you, internally it could hinder you down the road.

But the other poster mentioned a recent 30 day late would cost you very little points, I disagree there. A recent 30 days late will cause your score to drop if that's your only negative!!

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  Yep and sadly it's a pretty BIG drop.. 

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I've seen 70 points for a clean profile. Obviously, not so much if it's already dirty.

[Anonymous]

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@Anonymous wrote:
Don't worry too much, it won't be a big impact, few points max.

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Make no mistake about it my friend.  A single 30 day late on a clean profile can tank your score as much as 100 points.

[Anonymous]

The OP wasn't 30 days late, so a 30 day late reporting can't happen. That being said, it's impossible that his score drops even a single FICO point from being 3 days late, as his credit report data is remaining constant.

[Anonymous]

Obviously I wasn't ever intended to suggest you can do a 30 day late and suffer few points drop max.

I was wrong, however, in suggesting that few days late would cause anything on fico score.

I had a couple few days late payment with chase and disc, it must have been coincided with some other changes on my credit file,since my score dropped a few points.