tikiboy

Not sure if this is the right place, but...

I did not realize I missed a $1.04 charge in January on my Capital One Master Card. I so rarely use this card, and did not realize I had missed this payment until I went to activate a new card they sent.

I usually use Quicken to help me organize my expenses, but since Oct 2013, Quicken is not able to connect to Capital One, and I did not realize that the Capital One card became my active Amazon one-click card when another card expired.

I did not appear to have gotten any email alerts or other notification that my account was late.

According to the Capital One rep, my information was already marked as '30 day late' and I can dispute this with the credit card reporting services.

Will this small charge really have an effect on my credit score? And if so, how likely is it that it can be disputed?

Any suggestions?

HatAndJacket

bad... a late payment is a late payment...

StartinSanDiego

I think I'd be on the phone to Capitol One in a New York minute to argue my case.

Firstly, is it now paid? I would call and explain what a great customer you've been, how your credit is unmarred except for this boo boo, and what could they please please please do to help you rectify this.

Then head over to MyFico.com and see what they suggest over there for a situation like this.

What a bummer... I worry about making just such a mistake, too.

eknock007

Ouch!. A 30 day late for $1.04 is just as bad a a 30 day late for $5000. Forget about just calling in and talking to a normal CSR. You need to do some letter writing and initially target the people in the collections department of the bank. They are ones who report late payments to the credit bureaus. If no success, direct your letters to someone higher up. Wife had a similar issue last year. We manage to remove a 60 day late for $5.92 from her Macy's account. But it took about 3 tries over a span of 5 months. Sometimes you get lucky and find someone that is sympathic to your cause.

skibum7732

I'd try to call Cap One and get it removed if at all possible, as it will have a very negative and large impact on your credit score...it will also look very bad when you apply for new cards

whynotgo

First, confirm Capital One reported the late payment. In my experience, just because I was late making payments, did not result in the creditors reporting to the credit reporting agencies that I made a late payment. My credit scores are very high. Granted this is not a scientific study, but I have multiple instances of this occurring.

Second, I suggest you wait a month and pull your credit reports. If there is no reported lated payment, you have a non issue. If there is a report, then you might follow some of the advice herein.

Ultimately, you should be concerned about your credit score. If you have a good credit score with no late payments, this instance probably is not significant. If you have a lousy credit score, this is one more example of your lack of creditworthiness. I suspect that you are creditworthy and this was a "one off" event.

My two cents.

Beckles

Just being late does not get you a derogatory mark, you need to be 30 days late, which it sounds like the OP was.

tikiboy

Thanks all...
It was paid while I was on the phone. The rep said my record showed a "1" which meant it was reported. The rep even refunded my $3 in late fees so now I have a negative balance.
According to the rep, my bill was due on Feb 13 and 30 days was Mar 13 and I called on Mar 15. I said that since Feb was 28 days, I was calling on the 30th day. He then said it was 30 days after the charge, which I know is incorrect, but he said it was already reported.
I'll wait a month and check a credit report.
First blemish and not planning on borrowing money, so hopefully this won't be an issue.