Personal Finance

Line of credit late payment

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  • Jun 7th, 2016 10:38 pm
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[OP]
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Mar 25, 2005
2209 posts
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Line of credit late payment

So I have a line of credit and had a balance which was due last May 24th. I paid in time but misread my balance amount it was $140 and I paid $120 I just realized this now and only today have paid the overdue amount of $20.00. I've never been late with credit payments in my life ever, how bad will this affect my credit score?

Note: I'm not planning on applying for any credit anytime in the near future.
9 replies
Sr. Member
Dec 19, 2010
793 posts
246 upvotes
Toronto, Ontario
it will not affect it.
Deal Addict
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Nov 18, 2012
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Toronto
OP mentioned last June? Suppose last month. Most LOC had a minimum payment required, once you pay more than this amount, you won't consider any late payment. Otherwise even late payment, the financial Institute won't report in 20 days.
Simple is the best.
[OP]
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Mar 25, 2005
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Sorry to clarify the balance amount is the minimum payment amount.
Deal Fanatic
Nov 24, 2013
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Kingston, ON
jdmkidd wrote: Sorry to clarify the balance amount is the minimum payment amount.
Any past due payment would have been added to your next statement's minimum payment, so I imagine you paid it last July?
Deal Fanatic
Nov 22, 2015
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How can that be? That's almost a year ago... you haven't received a statement or anything from the bank since then?? Doesn't sound right. Banks are usually very strict with their PLCs and would not let a minimum payment slide for a year
jdmkidd wrote: So I have a line of credit and had a balance which was due last June 24th. I paid in time but misread my balance amount it was $140 and I paid $120 I just realized this now and only today have paid the overdue amount of $20.00. I've never been late with credit payments in my life ever, how bad will this affect my credit score?

Note: I'm not planning on applying for any credit anytime in the near future.
Deal Fanatic
Nov 22, 2015
5781 posts
5284 upvotes
jdmkidd wrote: I guess I'll post the real amounts with these screenshots. View in order

1. http://s32.postimg.org/y2i7ijq2t/lc1.jpg Paid $220 on May 14th

2. http://postimg.org/image/a01dno9fl/ Paid $40 Today

It was an honest mistake :o
Your original post says "due last June", hence all the confusion in this thread.

You're 14 days late which is not that bad. It won't report to a credit bureau, but Scotia will be able to see your late payment; if its a one off, they won't care either.
[OP]
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Mar 25, 2005
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superfresh89 wrote: Your original post says "due last June", hence all the confusion in this thread.

You're 14 days late which is not that bad. It won't report to a credit bureau, but Scotia will be able to see your late payment; if its a one off, they won't care either.
Thanks yes complete one off, I'll correct the OP.
Deal Addict
Sep 7, 2004
1595 posts
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Toronto
They won't report it to the agencies for at least 20-30 days. You're fine.

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