How Does a Late Payment Impact My Credit?

“Due to an error on my end, I accidentally paid a credit card payment late by five days, will this ding my credit score? This is my first late payment and my credit score is currently high.”  Asked on Social Media & Answered on 2/20/19

It depends on the actual due date. If for example the due date was February 14th and you paid it five days later on February 19th, then most originators will not mark you as late with the credit bureaus. However, most will charge you a late fee as you did not pay before the due date. In regard to your credit standing, however, technically you were not 30 days late, but only 5 days late. The bureaus only report a 30/60/90+ day late pays, not 5 days. For example, if your payment was due on February 14 and you paid it on March 17, then you would be technically 31 days late, the 16th would be 30 days late. In that case, you can be reported to the bureaus as officially 30 days late. If that is the case, but your payment history is otherwise flawless, then you should request a goodwill gesture from the originator agreeing to remove the late pay status with the credit bureaus. They may or may not agree to do so, but many will work with clients who have an otherwise excellent payment history… If they choose not to help you out at the front line level ( 800 number ), then contact their regional offices and speak with someone in their dispute resolution dept. Usually, the higher you go, the more attention you will receive, and the better the chances you will get your way. Executives love to help out their constituents. If all else fails, then a reputable credit repair company may be a good option to consider. In many cases, they can be forcefully reversed.

Considering that a recent late payment can reduce your score substantially taking action of some sort is advisable.  In the future, I would advise putting your payments on auto deduct to avoid any further issues.

ABOUT THE AUTHOR: Attila Thiry, Founder of National Credit Resources, Published Author, Artist, National Speaker and a Pittsburgh Steelers fan

Attila J. Thiry, Business Development & CEO  |  NATIONAL CREDIT RESOURCES

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