Quick rant, "missed" payment...

[Anonymous]

I got an alert that I had a 30 day late on an account this morning.  This is definitely news to me.  It was on my credit union card with United.  I hopped on live chat and spoke to a woman there who told me that she saw no such thing.  I had to screen shot my alert from CCT and send it to her.  After some research she determined that when my Platinum card was converted to the new URewards card, there was some residual interest on the Platinum card.  That was reported as 30 days late.  They are correcting their error and contacting the bureaus to notify them.  I was able to dispute online with TU, but EQ was not working properly and I couldn't dispute with them yet.  I'm sure this will cost me some points and hopefully not lead to any AA. 

[GFer]

Sounds like you have it under control if they are going to correct it.  I wouldn't worry about AR over this, as long as it doesn't take 3 months or so to fix.

[Anonymous]

Would have them on redial every hour of every day.

A creditor CAN force an update today. Even on weekends. Even at 3am for some huge banks.

No way would I be waiting weeks or months.

That is unconscionable. I'd not only be demanding a fast update but asking what else will they do to make me happy.

[Anonymous]

The lady at the CU said they'd have me a copy of their documentation to the bureaus by tomorrow morning.  If I don't receive it by then I'll be on the phone first thing.

[Anonymous]

Beautiful.

Still stay on them.

I have no idea what federal law requires but I was under the assumption they're required to send you a letter in writing warning about reporting a late payment. I could be wrong and am going to go look it up.

[Anonymous]

Looked it up and they're aren't required to pre-warn you. Ftc site says "You must provide the notice either before you furnish the negative information or within 30 days of furnishing it. You may include the notice with a notice of default, a billing statement, or another item sent to the consumer, but you cannot send it with a Truth In Lending Act notification. The notices must be clear and conspicuous."

[Credit-hoarder]

You def. want to get that off your reports ASAP. I had a 30 day late report on a Cap. One co-branded card back in April--only difference is I actually did screw up and go 30-almost 60 days late on the card b/c my mind wasn't focused due some personal problems I was dealing with at the time. While a 30 day late isn't the end of the world credit-wise, it can slow you down dramatically. Good luck.

[HeavenOhio]

Disputing it with the credit bureaus is redundant as it appears that the credit union is in your camp. I'd certainly be concerned, but I'd totally operate on the assumption that it'll be cleaned up quickly. Definitely stay on top of it, though.

Also, in the future, whenever you revolve a balance and pay it off, watch your statements for residual interest, and don't relax your vigilance until a statement cuts at zero. After that, you should still be checking in on every card periodically — certainly no less than once a month and preferably more often — to make sure that everything's as you expect it to be.

[Anonymous]

There wasn't ever a late payment.  I had a platinum card with them and they refreshed their line up and created a new rewards card.  The new rewards card offered 3x points for travel which works well for the few times my work travel doesn't allow me to fly my usual airline or stay in a Marriott.  When they converted the card they closed the platinum and opened a new rewards card.  I think the platnium card had a balance of about $350 on it and they transfered that over to the new rewards card, so any residual interest would have been a small amount.  However, once that happened I didn't have any access to the platinum card so I was unaware of this and now I have a 30 day late on a closed card reporting on my TU and EQ.  I got an updated TU score from one of my cards today and I had a 28 point drop. Now I'm more upset as when this corrected I won't immediatley get those 28 points back.

[Anonymous]

You'll get all those points back the minute the bureaus report the 30D was removed.

I'd angle to have the bank pay for a 3B pull so you can see for yourself.  They screwed up, not you, and if it costs you money, someone's going to have to pay for the costs.

Be straight forward: "You reported a 30D late to my bureaus.  It is going to cost me money to make sure I have a clean report.  How will you be compensating me for the cost of pulling my credit reports and FICO scores to make sure your error is corrected?"

Just because they're "working with you" doesn't mean the bank is off the hook.  A CFPB dispute is warranted here because the bank has violated the letter of the law by making a false report.  Yes, they're taking responsibility but what happens if another lender does a SP inquiry and sees that late payment and it spirals to CLDs and closed accounts?  There's more involved than just rapidly fixing their mistake if it costs you money to confirm it.