I Missed a Credit Card Payment

True confession: I missed a credit card payment. Oops.

I’ve never missed a credit card payment before…NEVER. It’s embarrassing to admit, never mind to blog about it.

How did it happen, you ask? Well, it’s not that I forgot it. On the contrary, I thought I had paid the bill through my online billpay portal. But instead of paying this particular credit card creditor, I mistakenly entered the payment into the wrong payee field. And I didn’t notice it until I’d logged back into our online banking — 3 days AFTER the due date. I immediately sent the payment to the correct creditor, but it was technically late.

If he’s reading this, I know exactly what my father is thinking at this moment: “This is why I still mail my bills!” True, it’s hard to screw up and pay the wrong creditor when you’re writing a check and mailing it, but you could always write out the check to the wrong company… right?

My Punishment

The creditor charged me a $15 late fee, which was the minimum payment due, and upped the next month’s minimum to $33, plus the $15 from the previous month, for a total of $48 due. As a rule of thumb, I pay much more than the minimum payment, so it’s not an issue.

The payment wasn’t 30 days overdue, so I’m hoping it doesn’t get reported to the credit agencies — that would suck. But I don’t plan to need any credit anytime soon, and the last time I checked, my credit scores hovered around 800 for all three agencies.

6 comments to I Missed a Credit Card Payment

  • Carlo

    Sometimes a creditor will waive the late fee, particularly if you’re a long-time customer and you’ve never been late. I would call them and let them know what transpired. There is a danger these days of having your interest rate raised significantly when you’re late, so if you call and explain that it was an honest oversight — which you obviously quickly remedied — there may be a chance that you can prevent that from happening.

  • Terrible! I missed one payment on a student loan and got DINGED. I tried to fight it but failed.

  • If you’ve always paid on time, they’ll reverse all charges – call them up.

  • danielle

    Carlo is right call them and they will waive the fee. I’ve done this in the past.

  • Dan

    Yeah, definitely call them. I’ve had at least one (maybe two) accidental late fees erased by explaining. In both cases, I had recently moved, and with all the change-of-addressing, potential for the misplacement of statements, and my reliable history, they gave me a pass.

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