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When is an account considered 30 Days Past Due?

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Anonymous
Not applicable

When is an account considered 30 Days Past Due?

If the statement period started July 1st, and was due by July 25th. Do I still have time to make a payment before it shows up on my credit report? Or is it already considered "30 days Past Due?"

 

So far, it has not showed up on my credit score. 

6 REPLIES 6
Anonymous
Not applicable

Re: When is an account considered 30 Days Past Due?

30 days

 

Though in most cases its the next statement cut, which for you would be august 25?

 

Note that even if it doesnt reflect in your report you were late, the creditor will still have a record of that and they may take adverse actions in the future (denial of CLI, CLD, penalty interest rate, late fee, etc) even without reporting it.

Message 2 of 7
rbentley
Established Contributor

Re: When is an account considered 30 Days Past Due?

In general, you will get a late fee for being even a day late, but you should not get a 30 day late reported to the CRB's until you have been 30 actually days late in paying.  Some cards may have different standards, which are clearly set out in the Disclosure Statement you got on opening your account.  That is often still available on the CCC's website.  You should check or call in on the card you are concerned about.

Message 3 of 7
Anonymous
Not applicable

Re: When is an account considered 30 Days Past Due?

Also beware of the penalty APR besides late fee, probably about 30%.
Message 4 of 7
MakingProgress
Senior Contributor

Re: When is an account considered 30 Days Past Due?


@rbentley wrote:

In general, you will get a late fee for being even a day late, but you should not get a 30 day late reported to the CRB's until you have been 30 actually days late in paying.  Some cards may have different standards, which are clearly set out in the Disclosure Statement you got on opening your account.  That is often still available on the CCC's website.  You should check or call in on the card you are concerned about.


What do you mean by some cards may have different standards?   If you are referring to late fees and AA then yes, but if you are referring to when a 30 day late is reported then no.   A 30 day can not be reported until it is 30 days late.   A creditor could choose not to report it, but they can not report it any earlier than 30 days. 

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Message 5 of 7
MyDataMyChoice
Valued Contributor

Re: When is an account considered 30 Days Past Due?

Use Excel to Calculate Days ... its easier

Enter the due date and in the cell next to it = that cell +29

 

Due on 7/25/18 + 29 Days = 8/23/18 is the latest you can pay without it being reported late. (get a receipt or conf# )  


Again as other have posted - the issuer may invoke the default rate, adverse action, and late fees... but you will not get a late fee.



Message 6 of 7
RobertEG
Legendary Contributor

Re: When is an account considered 30 Days Past Due?

Your account agreement determines when you are late, and thus subject to whatever fees and penalties are authorized under the agreement.

However, the CRAs are not interested in recording every late by a consumer.

They only record lates that have reached 30 days delinquent.

 

The common credit reporting manual used by the big-3 CRAs, titled the Credit Reporting Resourece Guide,  provides the official definition, and states at numerous points that a late becomes reportable as a 30-late only once it reaches 30-59 days past the billing due date.

 

A billing due date of July 25th would be late under the account agreement after July 25, but would not become reportable to the CRAs until August 24th.

Message 7 of 7
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