imported_Thrill_House

What happens with most credit card companys if you pay your bill a day late?

czeto

One day=nothing.
As long as it's yer ferst tyme

imported_alwaysoverkill

Visa gives 28 days, they request it on the first of the month and you have till the end, if you bill is on the end already, then i donno.

if your gonna be late, call em up, they will push it back so you pay two next time. only the interest is due, so like $20 on a $1000 or so.

rjngo

then their ridiculous interest rate will start kicking in...

imported_viper_2_4

one day late, probably nothing....anymore, they chage you interest, thats how credit cards work (or can work, a good strategy is to try and avoid spending money you don't have)

TeSt DrIvE

It depends what sort of card you have and when your billing cycle closes. Usually if you are a day late nothing should** happen, however just because you paid a day late it doesnt mean your payment will post to the account immediatly, it might take UPTO 24-48 hours. Therefore you might incur a late fee and if you are paying the minimum due, then you will incur your usual finance charges on top of the late fee.

imported_hdave

most likely you will just pay a very small amount of interest
maybe nothing at all

nothing worse will happen

imported_JLM SIR

Everyone's answer is correct to your question, but the most important is : TRY TO PAY UR CARD ON TIME...NO MATTER IF IT'S JUST MIN PAYMENT, coz the reason I said that is you want to maintain a good credit report for sure, because if you don't and you have lots of late payment, your're ending having a bad credit history down the line...it's going to take at least 7 yrs to clear your credit history...so its very important to maintain a clean credit...
I've learned my lesson so hope you do the same bro!

imported_hdave

^yea

and to the people that dont use a credit card, you should get one and use it once in a while just to build up credit.

i started at 1000/month limit with no income, and now im at 2500/month with no income

imported_alwaysoverkill

yup, they keep raising mine...i keep calling as telling them to leave it the **** alone. $1000 is enough and can get me in enough trouble.

imported_hdave

lol your one of those people that keep spending

the only spending problem i have is that i buy useless crap off ebay cuz the price is dirt cheap

imported_viper_2_4

haha, I did that for a while too.....soo much stuff is cheap there...

imported_Solid_turk

hahha im lookin @ getting a credit card just for that reason

Double_B

Agreed. Make sure you make your payments. And yes, it's good to keep your credit score high, helps you out if you plan on buying something huge, like a new car or house. But pay off what you can, and practise paying off more than mninmum.

boogie

It doesn't make any difference if you are 1 day late or 20 days late. It will negatively affect your credit rating. The ratings system isn't set up to be more lenient if you are only a day or two late on making a payment. All it sees is that the payment was made late, and it will note it as such.

imported_alwaysoverkill

not quite, i set my billing up for 1st of month billing, its required to be paid by the end of the month, so if the 1st dosen't go through, it does not affect my rating as long as the end its paid of the month...I have verified this with VISA.

also, if you miss one payment, its not instant credit rating downfall, they do give 1 freebie, but more then 1 then its not good.

Younes Si

nothing happens even if you miss 1 month...so one day is *** all

Double_B

Obviously you have never seen or heard of a credit report. That is the worse advice you could give.

czeto

Not true. Your account has to go to collection to really eff your rating up.

imported_hdave

^ yep

late payments dont really hurt your credit all that much
only if your taking toooo long to pay em off, or if your donig too often.

but even someone who regularly pays the payments off late shouldnt have "bad credit" it just wont be as great as others, and in the end it wont matter much