Late Payment Question

[Anonymous]

I accidentally forgot to pay two credit cards this month so the payments are 1 and 4 days late. Will this negatively affect my credit? I have never been late before.

[Jnbmom]

Creditors will not report unless it's 30 days late, however your internal history with them in regards to offers or CLIs may be impacted .

[FlaDude]

In addition to what @jnbmom said, don't be surprised to see a late fee.

[Anonymous]

Thank you guys. It scared the hell out of me when I saw they were late. I did get a massive late fee

[Anonymous]

If it’s your first time, most issuers are willing to forgive the fee and give you the money back. Amex has even done it for me twice. Discover and Capital One have done it for me once as well. That said, it probably depends on your past history with them. In each of my cases, I had already a solid 2-3 years of on-time, full payments

[Anonymous]

Stuff like this simply shouldn't happen anymore, setup your autopay for at least the minimum, it's like driving around with airbags disabled and no seat belt.

[Anonymous]

@Anonymous wrote:
Stuff like this simply shouldn't happen anymore, setup your autopay for at least the minimum, it's like driving around with airbags disabled and no seat belt.

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Unfortunately, we live in a time when people can barely keep 2 days of lunch in their bank accounts. Asking people to forfeit $30 or more ahead of time for 2 or 3 (or more) accounts is nigh impossible.

It’s sad but true. People can barely be convinced to spend $25 less a week on luxuries for the sake of savings. Don’t mean to derail the topic, but it is what it is.

[Anonymous]

If you can't even afford to maintain minimum in payment account, obviously you got bigger fishes to fry. OP "accidentally forgot to pay", different type of problem.

[Anonymous]

I’m saying that this could potentially be what OP is going through. Forgetting could just as well be a factor of being busy frying those big fish. Not everyone is in great financial positions. Personally, I am in a good position but still keep autopay off. Why? I have varying minimum payment amounts. My spending is spread out based on my reward earnings. One day the minimum is $30 and another day it’s $50, so it becomes very sporadic. It changes for each card, as well. I don’t keep all my cash in one bank, either. Too much of it is moving around at any given time, and often enough my “main” bank account will only have $20 due to other bills or money being sent to a different account.

[Anonymous]

Yes I do have enough money to pay. I pay all my credit cards down to zero every month. Was just busy juggling things and it slipped my mind. I do need to set up a system that will notify me of the different dates. Autopay is a good idea. Thank you guys for the advice.