AMEX missed payment due to annual charge

[MissKitty2U]

Hi guys, I'm stressing. I logged into my AMEX account tonight only to see that I was hit with a missed payment fee of $23 in May. My credit balance was $218. My previous balance was 0.

 

So I looked at the charges, and I see that AMEX charged me $195 for annual fee and interest of .31 cents. I missed this payment that I didn't know I had (because I thought my balance was 0), so they hit me with the $23 fee!

 

My AMEX FICO score is 835. I have never missed a payment in 10 years.

 

Last year, the IRS hit me with a lien for $48K. I booked an appointment and I took my receipts to show them that I made the payment but they applied it to the wrong year. The IRS acknowledged their error and lifted the lien, but my AMEX FICO score dropped from 810 to 698! The next month, my score rose 25 points and it stayed in the low 700s for 6 months!

 

I just climbed into the low 800s and now I'm worried that my score will decrease again for something that wasn't my fault.

 

Does anyone know how low my score will drop after 1 missed payment?

 

Thank you in advance.

Edited June 15, 2018 by MissKitty2U

[tiggerlgh]

Are you 30 days late yet? If not pay it off today. If charged in May you should be okay. Then set up an automatic payment for min amount due on all cards so it doesn’t happen again.

Edited June 15, 2018 by tiggerlgh

[spacemule]

Have you made the payment yet? What date did it become past due? You won't have a late payment on your report unless you go 30 days past due date before paying it. A late payment charge and a 30 day late for credit reporting purposes are not the same thing. If you do get a 30 day late on your report, the impact will be severe, particularly if it is the only negative on your report. If there are other negatives, the effect will vary with age and type.

[MissKitty2U]

Are you 30 days late yet? If not pay it off today.

 

I paid the balance before midnight. My due date is June 20. The missed payment was May 20. I'm hoping that means it's not 30 days past due. Thanks for your advice. It is much appreciated.

[MissKitty2U]

Have you made the payment yet?

 

Yes, I made the payment right before I came to the board. The due date is June 20. The missed payment was May 20. Thank you for your response. It was much appreciated.

[spacemule]

 

Are you 30 days late yet? If not pay it off today.

 

I paid the balance before midnight. My due date is June 20. The missed payment was May 20. I'm hoping that means it's not 30 days past due. Thanks for your advice. It is much appreciated.

 

You did not go 30 days past due, so you will not get anything on your report. You could probably make a 2 minute phone call with AmEx and get them to waive the late payment fee.

[MissKitty2U]

You did not go 30 days past due, so you will not get anything on your report. You could probably make a 2 minute phone call with AmEx and get them to waive the late payment fee.

 

 

 

Thank you! I will call tomorrow. Hopefully they will waive the fee.

[cv91915]

Ever since the New York Times erroneously billed an annual subscription I had previously canceled to my seCUred Visa card, I've logged into every credit card account twice a month to make sure that the balance is indeed zero on my unused cards.

 

I've also set up auto-pay on every card that offers it.

 

I believe in using two forms of contraception.

[Konrad2012]

 

I just climbed into the low 800s and now I'm worried that my score will decrease again for something that wasn't my fault.

 

Who's fault is it that you didnt pay your credit card bill?

[bradk14]

 

 

I just climbed into the low 800s and now I'm worried that my score will decrease again for something that wasn't my fault.

Who's fault is it that you didnt pay your credit card bill?

 

 

or set a reminder in 12 months to pay the AF.

[cv91915]

 

 

I just climbed into the low 800s and now I'm worried that my score will decrease again for something that wasn't my fault.

Who's fault is it that you didnt pay your credit card bill?

 

 

I missed that sentence in the original post.

 

Even in my example where I was billed for something I had canceled, it was still my responsibility to ensure that there was no payment due on that card every single billing cycle.

 

If NYT had given me any issue with a refund I would have disputed the charge.

[MissKitty2U]

I've also set up auto-pay on every card that offers it.

 

I believe in using two forms of contraception.

 

Thanks! Excellent advice.

[MissKitty2U]

Who's fault is it that you didnt pay your credit card bill?

 

 

 

My balance was zero.

[Konrad2012]

 

 

 

Who's fault is it that you didnt pay your credit card bill?

 

My balance was zero.

Your charges were $0, then there was a $195 posting under fees and your balance due was $195.

[Konrad2012]

Maybe this will help you, it's a guide on How To Read Your Statement from AMEX:

 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://online.americanexpress.com/myca/shared/summary/lendingoncharge/ccsg/payovertime/pdf/online-statement.pdf&ved=2ahUKEwjgxsadqNfbAhWqv1QKHSUlDGkQFjABegQIARAB&usg=AOvVaw3q8dgbJMmtV3mrmCprax7d

 

Notice this part: Balance Due- This is the total amount you owe on your Card account at the end of the billing period. It includes your previous balance plus adjustments for account transactions such as payments, credits, new charges, fees and interest charges. If you pay the new balance by the payment due date each month, you will not incur interest charges on charges added to a Pay Over Time balance automatically. We will begin charging interest on Select & Pay Later charges as of the date they are added to a Pay Over Time balance.

Edited June 16, 2018 by Konrad2012