Credit Rating

VincentHanna · 21 Jul 2017 at 10:54

413x said:
Oh, one problem you might have is loss of the promotional rate!
If it's a big purchase that is what you need to sort out! Not the credit rating

Screeeech said:
This is actually a very good point, I recently got a Virgin CC with 0% for 25 months, and it states in the T&Cs that if I miss any payments they will withdraw the promotional rate, I remember making sure the first DD worked,

I still think if you explain the issue you'll be ok, it's a pretty obvious mistake to make

Yep, I would make sure they still maintain the 0% rate if I were you...

tom_e · 21 Jul 2017 at 10:57

And this is why when they send that DD confirmation letter you check it rather than filing it under B for Bin

Robert · 21 Jul 2017 at 12:41

I did...and I still have it...

413x · 21 Jul 2017 at 13:46

Freakbro said:
I'm glad you don't work in customer service!

People are human and humans make genuine mistakes, good businesses who value their customers realise this and don't penalise them for it

I'd be rubbish as I couldn't do it. But if you think from the banks perspective.. Anyone could say this as an excuse for missing a payment

JonJ678 · 21 Jul 2017 at 14:11

Robert said:
I've got the middle two numbers of my sort code back to front.

There are quite a lot of places where transpositional errors are bad in finance. It doesn't seem entirely unreasonable for an inability to write down six digits in the right order to reflect negatively on your credit rating.

Robert · 21 Jul 2017 at 15:42

Ye

413x said:
I'd be rubbish as I couldn't do it. But if you think from the banks perspective.. Anyone could say this as an excuse for missing a payment

Yes, but given my 14 years of never missing a payment...that must evidence reliability. And to the last poster, it was human error. I'd imagine you've made mistakes before. Had I had an unreliable background I'd agree, but I haven't.

Mr_Orange · 21 Jul 2017 at 16:28

Ace Modder said:
one missed payment will not affect your rating really. Don't worry and move on with life.

1 "missed" payment that npower had on my record by mistake was enough for Barclays to deny my mortgage request. Thankfully npower have since taken it off my record but considering that otherwise my credit report is spotless it's amazing what 1 "missed" payment will do.

Scrutinize · 21 Jul 2017 at 16:52

Mr_Orange said:
1 "missed" payment that npower had on my record by mistake was enough for Barclays to deny my mortgage request. Thankfully npower have since taken it off my record but considering that otherwise my credit report is spotless it's amazing what 1 "missed" payment will do.

Npower energy? Utility bills are not a credit account so they can't put you in arrears on your credit file unless you had missed a lot of payments and they took you to court to have a ccj issued.

Mr_Orange · 22 Jul 2017 at 23:26

Scrutinize said:
Npower energy? Utility bills are not a credit account so they can't put you in arrears on your credit file unless you had missed a lot of payments and they took you to court to have a ccj issued.

I don't know the details but this is what has happened. It showed up on my credit report from experion. It also happened to these guys a few years ago so it most definitely a thing:http://www.telegraph.co.uk/finance/...2/Npower-error-cost-my-family-a-mortgage.html

Scania · 24 Jul 2017 at 01:19

I have missed / late paid more times than I care to remember yet have absolutely no problem with regard to obtaining credit,I always pay,when I get round to it

- in your situation with your record? Really, you've got nothing to worry about!

Casdawer · 24 Jul 2017 at 11:54

I've missed a few payments before and my Credit Score has barely changed and it's still better than most people my age (apparently).

krisboats · 24 Jul 2017 at 11:54

Scrutinize said:
Npower energy? Utility bills are not a credit account so they can't put you in arrears on your credit file unless you had missed a lot of payments and they took you to court to have a ccj issued.

I've had british gas late payments recorded on credit file before. It showed up through one of the big credit companies, experian i think. They had 2 years of british gas details.

Jamesyboyjim · 24 Jul 2017 at 13:06

I've had a few late payments for things over the years, usually caused by them trying to take money a few days early, always sorted it with a phone call or whinge, never seen any late payment appear on any credit report. :confused:

I guess i should count myself lucky!

Felon · 24 Jul 2017 at 13:12

My experience of late payments based on two I had a while back, is that usually you have to miss it by an entire month before it gets flagged on your credit file - as they only update the credit records every month, provided you actually make a payment that month I don't *think* that a late payment will always find its way onto your credit file - unless you miss the month altogether, in which case it will.

Mark M · 24 Jul 2017 at 13:18

One late payment wont have a huge impact on your credit score but it could certainly have an issue on your credit file and as the above poster found out a mortgage company or other lender may use it as an excuse to decline an application. It drops off your record after 12 months but I've seen it adversely affect plenty of people.