Late payment and trended data

[Anonymous]

Hello everyone!

I have been kind of freaking out lately, as I managed to miss a payment on each of my Capital One CCs this past month. It was a problem with autopay, as it was set to $0 from some hurricane relief program they were doing the month prior. I paid manually in September to work around the $0 scheduled payment, but that apparently messed up autopay for October, and the October autopay payment never happened.

Anyway, I was notified of the missed payment 3 days after the due date, on the night that statement closed. I paid immediately, but it made me worried about the late payment reporting to my CR.

I already contacted Capital One about the payments, and they said they will not report it as late because it was only a few days. However, when looking at the trended data on my CR, I worry that the combination of an increased balance for October with a blank "Last payment date" section for these cards will signal to other CCCs that I missed a payment.

Am I ovethinking this? Or can I expect other CCCs to get spooked by this? I am carrying a balance with Chase, but have been paying it down consistently of late, and I worry that this "late" with Capital One may trigger a CLD or something with other cards - setting back some of the progress I have made over the years in building my profile.

Any input would be greaty appreciated. Thank you.

[RadioRob]

You should be fine. They’re not going to ding the actual credit report until you’re late by 30 days or more. CapOne will know about the late and might hold it against you for CLI requests but it does not effect your report in any way until it’s 30 days or more late.

[Anonymous]

You can actually pay 30 days after your due date and be fine. You have to hit 31 days to get a late payment on a credit report.

[Anonymous]

Thanks for the replies. I'm startng to feel a little better. 

I guess my main concern is not with an actual late reporting, as CapOne already told me that such a thing would not happen. I am more worried about the trended data. My CapOne cards report Date Reported, Scheduled Payment Amount, and Date of Last Payment very accurately. Payment amount is always blank, so that isn't too big of a deal. I fear that the balance increase on both accounts (minimal, + ~100 on each), coupled with "Date of Last Payment" either being blank or a month ago, will raise some flags with my other CCCs. 

Maybe I'm overestimating the gravity of such data, but it still kind of worries me.

[Anonymous]

Don't sweat it.  No one is going to look at the date of last payment or pay it any mind unless a late payment is reported.  Payments being a few days late here and there are pretty common and outside of a possible late fee aren't a big deal.

[Anonymous]

---

@Anonymous wrote:

Don't sweat it.  No one is going to look at the date of last payment or pay it any mind unless a late payment is reported.  Payments being a few days late here and there are pretty common and outside of a possible late fee aren't a big deal.

---

This is a spot-on reply from BBS.  I think a lot of folks here on the forum don't even know about TD, but he understands what you are driving at. 

Strictly speaking, it is theoretically possibly for a highly sophisticated TD algorithm to see the exact date of a payment and to note that it was (say) 10 days late.  EXAMPLE: someone has a $0 balance for three months.  Then he has a balance of $40 that is reported on Aug 10 (i.e. on his Aug 10 statement).  He pays it on Sept 20.  The TD algorithm would (in theory) be able to see the payment date and infer that it was late since it occurred after the next statement (Sept 10).

But while conceivable in theory, no scoring algorithm or creditor is really using doing this.  The biggest reason is that those trended data are often not there, and therefore nobody would invest a lot of money trying to do TD analysis on datasets with huge numbers of holes.  The other thing is that (as BBS suggests) a person being a few days late once in a great while is no significant marker of risk.  If consumer datasets (at the bureaus) can eventually become rich (especially as touches payment data) creditors and scoring developers will be most interested in identifying people who regularly carry debt (as opposed to paying in full after the statement reports).  A stray PIF that is a few days late won't be of interest to them.