If I pay my bills after the due date but before the penalty date, does it negatively affect my credit?

Question

For example, some bills are due the first of the month, but you aren't penalized with a late fee until the 15th of the month.

Answer 1

Yes it is reported, but not the same way as a 30/60/90 day late. if you pay intime to avoid the late payment fee it will show up as on your cedit report, or should I say it won't show up. when you make a payment on time it shows up on your report as payment on time, when you don't make the payment by that date it shows as no information reported. that tells lenders that you where late, but only by a few days. As for the credit card reference by monica, first I don't know any credit cards that give you any grace period after the due date with no penalty, if you do please let me know. also, the cust service rep is full of it, all credit cards and loans are tracked by 30 day incruments for overdo payments up till 180 days. at that piont all accounts are default and sent to collections. I would love to know a bank that does not do that, I could use a card with a little forgiveness.

Answer 2

An automatic bill pay was somehow cancelled and didn't go through on its due day. So I called my credit card company to find out what happened. The whole time I was panic stricken because we are going to buy a house in a few months and we've been very careful with our credit.
When I talked to the customer service rep, he said that overdue accounts don't get reported to credit agencies until they are 60 days past due.
I'm still very careful but I felt very relieved. Nonetheless, from what I know about credit scores, a late payment can still show up and work against you. I would just call whomever you owe and find out if you can change you due dates. Sometimes they can be pretty flexible with that.

Best of luck!

Answer 3

Yes, it can still be a hit on your credit report. You are late. Period. The due date has come and gone, and your money hasn't shown up - it's late and they can report it as such.

If you can't get the money by the due date, but you can get it before the penalty date, see if you can get the dates changed so you *CAN* pay it on time.

Answer 4

so yeah if u pay before the 15th u should me fine..