Posted 06 August 2015 - 08:52 AM
Paying your cc bills on time is of primary importance in building your credit score. There's [about a thousand] apps for that. But if somehow you miss or forget or just didn't click the last "are you sure?" button, you haven't necessarily screwed yourself.
1. Take action as soon as you can.
2. Call the cc company and say: it was a mistake, I've set my calendar app to remind me so it won't happen again, I've been a good customer. Can you waive the late fee, and is there a way to ensure that this won't be reported negatively?
3. If you're not habitually late, they will almost always waive the late fee just for asking (BING, you just recovered $35 for a five-minute phone call). Most will also tell you they don't even report until it's 60 days late.
4. Do NOT let that last fact make you complacent. Paying your bills on time is still of primary importance in building your credit score.
If you have ostrich tendencies when it comes to your mistakes, you're just gonna have to overcome them. It really is true that most problems can be improved if you reach out, and get worse if you ignore them.
P.S. This refers to OCs (original creditors). CAs (collection agencies) may require different tactics.