I have a credit card account with NAB and the repayment was due on 21 Oct.
Direct debit from ANZ bank was set up for the repayment but I just closed the ANZ account last month so the direct debit was unsuccessful.
I was aware of it on 23 Oct and made the payment as I realised it so basically it was 3 days late for the repayment.
Just wondering if this could impact on my credit report?
Thanks for helping OPs.
they'll put you on hardship record straightaway.
I think it gets tagged as a late payment but the impact will be minimal if it's a one off occurrence.
It's tagged as missed payment only if the payment is in arrears after 10 days.
If you look at the updated "Comprehensive" credit report, it appears as a late payment where they've got this thing that show's how late a payment as in a 'range', such as 1-2 days late or 3-4 days late, etc etc (I don't know the exact ranges). Having just one of late will have minimal to no impact, but if there's a pattern, then that might impact your score more.
Impact on Credit Score
are you planning to get a loan ? otherwise no point of thinking too much on credit score anyway
They will @Blok your accounts ;)
10 days. You will be fine
Bikies.
Speaking of annoying bank practices.
Commonwealth Bank absolutely nags me to pay my credit card bill.
Even 2 or 3 days AFTER my payment shows on their crap system.
And need to have an account with them to avoid Bpay.
Amex on the other hand is perfect ( for me)
Missed payments are reported to credit agencies when payment is 15+ days past the due date.
NAB will flag it as a missed payment in their internal systems however the credit agencies will not be made aware
no issue whatsoever. ive missed it many times, but honestly i dont look at repayment dates, i pay my card when i got money so its like the next day or a few days later. made no diff to my credit score.
you will never be able to get a mortgage now with the impact this will have on your credit score.
Oh wait we don't live in the USA and credit scores don't mean anything.
It will not reported to Credit agencies if you miss by couple of days but your bank will charge Late Payment fee. If this is your first time paying late, you can call customer care to waive off Late Payment fee. May be next month you can get Equifax credit report ( Usually it is 1 time free every 3 months i guess) to check whether it is reported as late payment or not.
What will you do with this information?