It would unless you call the credit card company and tell them why you were late . Always put your creditors on the loop if payments will not come on time. If this happens, you will have missed payment on record and your credit score would drop a few points down. Ask if they can reconsider the late payment and it goes away from your record. There is no harm in asking.

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So i was a few days late in paying my sallie mae student loan bill. it said my account was deliquent 3 days. so i paid it. my question is will a payment that is late only a few days affect my credit score? i know for credit card payments you have to be atleast 30 days late for it to be reported to your credit score, but i don't know about student loans? am i in trouble?

Every lender has their own rules on whether they have a grace period. Typically a creditor will not report a delinquency until it is at the very least 15 days past due. Reporting a loan late by 3 days is ridiculous. I doubt it will have any effect on your credit score, but get copies to be sure. You can also google to find out if a 3 day late payment affects your score. I wonder if Sallie Mae also reports 1 day late.

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I have had my bank of america (formerly mbna) credit card since 2003. i always make at least the minimum payment and have always been on time. i monitor and pay my bill on online each month. i normally set up my next's month's payment before the statement is even generated. last month, i set my payment on the 10th (my due date has consistantly been the 11th each month) and i let it be for another month. when i went into my account around the 15th to set up my next month's payment, i noticed a $39 late fee had been charged on my account. i looked at my online statment and the due date had been changed to the 9th that month. so, my payment came in one day late. i called boa and explained my error and apologized for my mistake. they would not waive the fee. they told me they understood my anger, but that the fee was valid. even though i have been a member for 5 years and never paid a late fee before. i thought i would get a little cooperation from them for being a good customer. nope. i spoke to 3 different people and no one would remove the fee. needless to say, i am paying this account off this month and closing it. i understand it was my error for not going back to double check the due date, but i feel they could have made an exception for me that one time. they re-assured me that it would not affect my fico score, but i was still mad. are there any credit card companies out there worth doing business with and aren't vultures about stealing your money. yes they are stealing my money. they didn't do anything to earn my $39. i understand they are not a non-profit company, but they have made plenty off of me in finance charges over the course of 5 years. my request to waive one late fee was a very appropriate i think. no one is perfect and one mistake in 5 years is hardly worth being punished for. i may not close the card because of the credit history i have with it, but i definitely will not pay any more finance charges. i will pay in full each month when i do decide to even use the card. i may just tuck it away in a drawer....

I'm surprised they were so hard-nosed about that. I would seriously consider getting a different card, and transferring any balance you have with them. But - Yes, they can charge you. Even for one day. Even if the day changed. You did get a statement ahead of time showing the new due date, but you didn't look for it. (I wouldn't have, either). My only suggestion for the future is NEVER set up an automatic payment so close to the deadline. I always set them up one week before the deadline - then should ANYTHING happen, glitch, or otherwise, I have time to deal with it, even make a payment by phone, before the deadline comes up. Again - I'm surprised they're being so nasty - especially considering your long, perfect track record. I say, dump them.

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So if i have had four credit cards for about two years, i have three retail ones and a bank one. here are the limits...wal-mart $300 dollars, macys $200 dollars, best-buy $1200, and bank $300. when i was young two years ago i jacked up the cards to the limits so i was a total of $2000 dollars in debt. but i have incrementally payed them all off to 29% of their limit about 3 months ago, so they now all have about 71% available so i am now only $580 dollars in debt with $2000 total credit line. one of the cards went over the limit 2 years ago when i got it, which i know is negative. and i did have about 12 hard inquires at the time i got the card which i know is negative for 2 years, but in the past 2 years i have only applied for 1 credit card, and it was the last card i got. so i basically have only one hard inquiry on my credit report. i have not applied for any more and i have never been even a day late on any payment and always have made at least the minimum payment. my minimum payments all total to about $50 a month now but i usually paid more to help me reduce my debt. ive had my job for two years and make about 2500 a month gross. i am 20 years old, going to school on scholarships, so other than these cards, my phone bill, and insurance i don't have any other debts to my name..with all this said, how is my credit score most likely..and what are my chances for getting a 10000- 15000 dollar car loan and my debts were paid down over time evenly, not all at once, i didn't want it to look like i just randomly got money and paid them down, even though i could of i wanted to build history. but i do know there are a few negative factors but they are all two years old and i listed them all. i know it sometimes takes 7 years but certain stuff like hard inquiries only take 2. the big thing is when i went over my limit 2 years ago, thats what im worried about. i have about 8000 sitting in the bank but i don't want to use it all on the down payment ..maybe half and the car i have right now is a 2004 mitsubishi eclipse gts near perfect condition its worth like 9000 but i don't really like it. i will not buy a new car for that reason i will buy a lightly used car so that way someone else takes the 20% loss and saying i won't get the loan because my credit limits only add up to 2000 is dumb, does that mean a person can't qualify for a 400,000 dollar house loan because his credit limits aren't already at 400,000. i will be in college for another 4 years even with car payments i am living close to free and for my income at my age i can easily handle it. have a nice car young. graduate, have it paid off, and still have money saved up, sell the car, and ill be making much more once i start a career. even if i stayed at this job 4 years from now my monthly income will raise about 1000 dollars, at least.

No preaching just a answer to your questions. Auto finance is what I do for a living and there are 10-different things that go into a car deal and determining a persons interest rate. 1. L.T.V. (loan to value) the lower the better. 2. Term of loan. The shorter the better. 3. Age of vehicle. The newer the better. 4. Miles on vehicle. The less the better. 5. The buyers time in credit bureaus. The longer the better. 6. The buyers credit score. The higher the better. 7. The buyers credit profile. The longer and more diverse the better. 8. The buyers monthly income. The higher the better. 9. The buyers debt to income ratio. The lower the better. 10. The buyers time on job and at residence. The longer the better. As far as your previous credit is concerned since all of the bad stuff is over 2-years old the effect on your credit score is minimal. It sounds to me like you have done a very good job of cleaning your credit up, good for you. The only obstacles I see are your age, length of time in the credit bureaus and the fact that you have no previous installment credit. But all of this can easily be overcome by a down payment. There are lots of lenders out there that have first time buyer programs and you should not have a problem qualifying for one of them. And just so you will know your debt to credit ratio is based on your total debt compared to your total credit, not on a card by card basis. Good luck.

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I have bank of america auto payment drafts set up from my checking. due to oct 07 having 31 days, nov 07 having 30 days i was unknowingly charged an additional 3 bucks on my bill due to the interest rate fluctuation but was not notified. the credit card company took my autopayment, charged me late fees, increased my interest rate to 30%, hung the phone up in my face after i was expressed my dissatisfaction (i mentioned that i should close the account out of anger but did not confirm it) the mgr said "i will close it now"..slammed the phone down and cancelled my account which negatively affects your credit score. i phoned back to no avail. plan on writing the ceo and board members to express my complaint after being a longtime good paying account holder for more than 12 years! i want to also file some type of charge against the person who falsely and maliciously closed my account. any suggestions on filing charges with the local authorities or any suggestions moving forward?

File charges for what? If you have a charge account with me, I can close it any time I want, credit is a privilege that I extend to you not a right. Further, in the terms & conditions that you agreed to when you opened the card, you will find that they can raise your interest and/or cancel your card pretty much at their whim. Your post doesn't make much sense, not to mention sounds like you are blaming the bank for your failure to pay attention to your account, due dates, payments, etc.

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Me and my husband own a 2 bed semi and are looking into moving into a bigger home due to a new arrival. we have requested to add an additional £25,000 onto our current mortgage so that we can move to a 3 bed house, which the mortgage company have confirmed that based on our income and deposit they will lend us this subject to credit scoring. i checked my credit report and score on experian and mine came up as excellent with a score of 999. i have instructed the estate agents to put our house on the market. however i found out today that my husband missed a payment on his credit card earlier in the year after making a mistake with the bill and fell behind with the payments. he therefore went over his limit and arranged with the credit card company to pay off the extra amount over a period of time. i'm annoyed as i had the money to sort this out the first month but he was too embarrassed to tell me and decided to sort it out himself. i therefore paid his recent monthly payment plus the charges incurred and confirmed with the credit card company that he was now £100 under his limit and had no further arrears outstanding. after the one missed payment he never missed a payment or made it late and was not charged an overlimit fee due to the aggrement with the bank. other than this he has been good with his credit. we have been approved credit for small things like a currys account and mobile phone recently and this did not seem to have had an effect on his rating. i'm slightly worried that we will not be lent the new mortgage amount because of his mistake. i'm hoping that as we're staying with the same lender they'll see that over the past 3 years of paying our mortgage we have never missed a payment. my husband has applied to see his credit rating, but have to wait to have it verified. does anyone think that his mistake will effect our chances of getting the mortgage. i'm very worried, as if we cant we have no room for the baby and will owe the estate agents money. the mortgage company told me they would not give us an agreement in principle until we had had an offer on our property and had an offer on the new one accepted as the quote only lasts for 28 days.....any advice is really appreciated. my husband has just checked and the credit report has come through. his score is 815 which is fair and he has had 4 late payments in as many months

You probably (should) have your answer already, from your lenders. However, my view would be that most lenders are aware of two things nowadays; firstly that many people have a slightly imperfect record, and secondly - very important here - that a good customer OF THEIRS is likely to remain so. By staying with your current lender, you are in a strong position. Although, as has also been said, if they do 'cut up rough', there are lenders out there for all borrowers. If this does happen, see a reputable broker. I am not a broker but I recommend the one I mention below.

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I have a 2003 town&country van fully loaded very nice the kbb value is approx $11,500 for good condition. which it is. i owe 10,500 approx. i want to trade it in for another van. with less mileage or maybe a smaller car i'm not sure yet . i have a few questions: 1. if i decided to trade it at a dealership would they pay off the existing loan? 2. i dont have bad credit as far as paying my current bills. my past bills years ago that are on my credit consist of 3 medical bills but i am working to pay them off . i just had one of them posted as paid. i have a score of 573 through equi. all other accts are in pays as agreed. although i do have one credit card that was in the high limite and i'm not sure if it has posted yet as being paid down. 3. i have had my van for 7 months and have until this month not had any late pymnts however this month i was late the full 30 days and so im worried that will bring my score down and maybe even affect my chance at trade in oh well i guess i wont be doing that then. hmmm

First off the dealership will give you the good trade value of you van, even if it is in excellent condition and has low mileage. This is why, the dealership must mark up the price and probably lower(haggling) it so that they make about $500-$1000 profit. Second, If your credit score is below 650 you will probably have to go to a big volume dealer that can get you a loan. You will still probably have a high interest rate. Third, Another problem is the short length of time of ownership and the negative equality that you will have. Having one late payment probably will not affect your score that much. I would probably consider keeping hold of the van longer, but just remember that the value will keep going down for a while. Your credit will be getting repaired as long as you keep paying on time and work with your creditors. I once too had a credit score of about 550-570 with credit card debt over my head and a auto repo on my record. I worked with the credit card companies and removed the debt and was put in good standing. I know have a credit score of above 650 and just financed a great car 2 years ago and a $100,000 house one year ago.