HEELLLPPP!!!! 3 days late on my 5/3rd Trio card

[Want-a-better-FICO]

HEELLLPPP!!!! 3 days late on my 5/3rd Trio card

HELP!!!

I've been working so hard on rebuilding my credit. I opened a 5/3rd TRio card about 6 months ago and never missed a payment and never late. I was really sick the last couple of days and this morning realized my payment is 3 days late. My mayment due date was 11/17. I called immediately and asked to have the late fee removed (they agreed) and set up auto pay while on the phone with them. But that's not my biggest concern. My concern is will this mishap count as a 30 day late on my CR's? All my other CC's are AutoPay  an the reason I haven't had a late payment in ht last 5 years. I just procrastanated on setting this one up.

LESSON LEARNED!!!

[Want-a-better-FICO]

HELP!!!

I've been working so hard on rebuilding my credit. I opened a 5/3rd TRio card about 6 months ago and never missed a payment and never late. I was really sick the last couple of days and this morning realized my payment is 3 days late. My mayment due date was 11/17. I called immediately and asked to have the late fee removed (they agreed) and set up auto pay while on the phone with them. But that's not my biggest concern. My concern is will this mishap count as a 30 day late on my CR's? All my other CC's are AutoPay  an the reason I haven't had a late payment in ht last 5 years. I just procrastanated on setting this one up.

LESSON LEARNED!!!

[thornback]

Don't worry. You're not 30 days past the due date so this will not result in a 30 day late on your reports. You're only late, internally, with the issuer and there will be no notation that you were 3 days late reported to the bureaus. You can breathe. And yes, autopay for at least the minimum due to avoid such mishaps - always. Glad you're feeling better!

[Want-a-better-FICO]

@tmr..... Thanks for the fresh air. I was suffocating ever since 4 a.m. when I noticed the mishap.

[Anonymous]

If you were only 3 days late, by definition you weren't anywhere near 30 days late, so the account won't be reported as such.

[JVille]

Set EVERYTHING on AUTOPAY for the Minimum payment and if you want to pay more just make an extra payment. How much was the late payment fee $35??? Autopay is the only way to protect you from yourself!

[Gmood1]

Depending on the bank. They won't report it. But some of them will make you pay dearly for that 3 days late by raising your interest rate to the maximum amount. Chase did that to me over 10 years ago. I was like one day late and didn't have auto pay set up. They never reduced the rate and I eventually closed the card after 8 years.

[Anonymous]

Interesting, GM.  I hadn't heard of banks raising interest rates due to a late payment, but it does make perfect sense and I suppose there's no reason they shouldn't since it's within their right.  I guess this would be considered the most tame version of AA.

[RobertEG]

Many low or zero interest introductory or balance transfer rates are subject to immediate change to the full, normal account interest rate if the account becomes delinquent.  It is usually stated as a term of the low or no interest introductory or BT rate.......

[Gmood1]

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@Anonymous wrote:

Interesting, GM.  I hadn't heard of banks raising interest rates due to a late payment, but it does make perfect sense and I suppose there's no reason they shouldn't since it's within their right.  I guess this would be considered the most tame version of AA.

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Oh yes, Amex will do it as well. Though they'll punish you for only six months. Where as Chase will do it for a life time. 😂

Because of a goofed up bank account number, Amex hit me with 29% for six months. They did reduce the rate back to 12% after that. Chase left my rate at 29%. 

The Chase CC wasn't under any special rate before that. I actually thought the payment went through when I submitted it online. For some reason, it didn't process. 

[Thomas_Thumb]

I'd call and request an APR reduction after 3 months of card use with ontime payments. The request will be more likely to succeed if you 1st pay your statement balance in full a couple times to demonstrate ability to pay.

I had a high APR with Discover for 25 years but I always paid in full so it didn't matter to me Discover never did an automatic adjustment on APR - perhaps because they never had updated income/employment information. A few years back I noticed my APR on other cards was about 1/2 the Discover rate. So I called, spoke with a CSR, mentioned my rates on other cards and requested a APR reduction. Discover dropped my rate to their lowest tier and offered me 12 months at 0%. Never hurts to ask.