Would I have my credit dinged in this scenario?

[Anonymous]

Hello!

I'm in a pickle and am trying to understand how to not have my credit score dinged, or get reported with a bad mark...yet I can't find an answer to this question anywhere.  So I hope someone can help with some insight.

I know that if you miss a credit card minimum payment, you don't actually get dinged with the credit bureaus until you've missed the following payment 30 days later, right?   So it's the second consecutive missed payment that actually gets you in trouble ("officially", anyway).

But here's where I'm not clear.  I had some huge medical expenses in my family, so I missed my minimum payment last month, let's say it's $250.  Of course, the following month, there's the new minimum payment of $250, plus, say, a $40 late fee for the missed payment, and of course, the accrued interest tacked on.  So for the this due date, the new payment due is of $550 or so, right?

Now here's my big question.  Do I NECESSARILY have to pay the full $550 to not get dinged with a black mark reported to the credit bureau? (meaning, is the metric here to get dinged "two consecutive late payments"?).

Or...

If I don't have the $550, can I pay the late amount from last month, plus the late fee (in other words, just pay the older debt which is approaching 30 days) and thus not get dinged, even though I'd be late on the newer minimum payment of $250?  (meaning, the metric to get dinged here would be "debt that is older than 30 days" or "debt that has aged more than 2 payment cycles").   

In other words, am I screwed if I can't pay the full new minimum payment, or could I just pay the older portion which is late?  (and would that include either the late fee and interest, or just what's late?).   

Sure, I could ask my bank, but I don't trust them to tell me if the latter thing is possible, simply because they would pressure the hell out of me to pay it all and do a scare tactic about how I'd get in trouble anyway if I don't do the first option.

So in short - what is the minimum I need to do in order to avoid having my credit damaged?  Is it only if I pay the entire past due plus the newly due etc to the tune of the $560, which is the new minimum payment...or if I just pay the late bit from last month (plus the fees), am I off the hook for just a little while until my next paycheck and won't get reported just yet?

Thanks so much!  I would enormously appreciate any feedback...time is tight and I'm worried I can't make the full minimum.  

[RobertEG]

If you pay whatever the delinquency amount is prior to the next billing due date, you have removed the account from delinquency status, and a new delinquency would then be determined based on when/if you thereafter become delinquent on the new billing.

You have a new date of initial account delinquency for any later delinquency once the account is brought back into a non-deliquency status by paying the current overdue amount.

Stated differently, the CRA credit reporting manual defines a reportable 30-late as an account delinquency that has extended 30 days past the last billing due date.  It does not define a reportable 30-late based on having a debt for two payment cycles.

[Kree]

Generally (and this depends upon the creditor's accounting practices, but most companies follow the same guidelines) Payments are applied in the following order. Past due payment. Current payment, fees.

So If you pay the 250 from last month before it is 30 days late (note 30 days is 30 days, not 31.)  You would not get reported as 30d. You would still get a new late fee for the current month.

If you pay 500, for last and this months rent, you would not be late anymore, but still have a 50 late fee on your account, but would not get an additional late fee for this month.

You can always call the creditor to check if this is the case.

[marty56]

Some CCCs won't report until it is 60 days late.  PNC coems to mind.  I would cal them and ask but don't give your name and CC account if you don't have to.