Impact of One Missing Payment!!!!

[Bosieb]

When I read about a ''Monthly Feed'' that banks,credit card companies receive what happens if there is a missed payment but from a few month's ago?

Just to explain back in December 2011 I totally forgot a measly payment to Marisota (a JD Williams's catalogue) First time in nearly 4 years. So on my January credit files all 3 of them showed there was a missed payment showing a number 1
But when I look now at my credit files they sort of look like this:00010000000000000000000. So my point, taking a while sorry! My accounts are all up date so will this be the 'status' the banks receive on their monthly updates? The number 1 status is about 3 month's gone.

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

1 missed payment no affect. Don't stress.

[Bosieb]

Re: Impact of One Missing Payment!!!!

1 missed payment no affect. Don't stress.

Hi niddy could you tell me about these monthly feeds, as all my accounts are up to date will that now reflect that in say their next feed update? I wasn't even aware there were these ''feeds'' until I read your posts!
I did notice in January Next dropped my credit limit by £1000 and it is now £2200, not bothered.
But grateful if you can just explain these feeds they do - please

[mgfboy]

Re: Impact of One Missing Payment!!!!

1 missed payment no affect. Don't stress.

Niddy mate I have to disagree, I know of people that have had one late credit card payment and it has caused a review on their account and for their limit to be dropped or rate increased.

Also I was speaking to a mortgage underwriter and 1 missed payment can be enough for a decline, depending on the rest of their history.

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

Mate generally speaking one late payment does not affect you. Let me get to lappy so I can copy data!

2 late payments is the threshold before any derogatory feeds start to hurt. Although I guess with mortgages they could be stricter.....

1 late payment is usually no biggie.

---> Will missed payment hurt mortgage application? - Experian UK

Read bottom para "a solitary missed payment..."

[mgfboy]

Re: Impact of One Missing Payment!!!!

Fair enough , all I'm saying is it can effect you. You know what credit card companies are like any excuse to up the interest rate

[Bosieb]

Re: Impact of One Missing Payment!!!!

Thanks for replies, I did notice Next dropped my limit that month it went on, I know Next do this a lot for sometimes no reason at all. But my question is with the monthly feeds, 3 months's on and back to a 0 status is that what banks will take everything is up to date again?

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

Thanks for replies, I did notice Next dropped my limit that month it went on, I know Next do this a lot for sometimes no reason at all. But my question is with the monthly feeds, 3 months's on and back to a 0 status is that what banks will take everything is up to date again?

Of course they'll see it's up to date, cos the account will have a 0 there showing up to date

[Bosieb]

Re: Impact of One Missing Payment!!!!

I think joining LTSB has made me more paranoid than usual!

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

I think joining LTSB has made me more paranoid than usual!

dump it and go back to HBOS then - I still dunno why you went to them

[Bosieb]

Re: Impact of One Missing Payment!!!!

Won't their systems be all integrated as one now? So they score the same way? I think I get a bit bored and just apply sometimes. My friend says she wants to lock my laptap up when I'm in one of them moods! Keeps me out of trouble.
I want to just end up with 2 bank accounts, I like LTSB's save the change, they seem advanced in one sense.
My cousin is with Co-op but she feels their internet banking lets them down.

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

Won't their systems be all integrated as one now? So they score the same way? I think I get a bit bored and just apply sometimes. My friend says she wants to lock my laptap up when I'm in one of them moods! Keeps me out of trouble.
I want to just end up with 2 bank accounts, I like LTSB's save the change, they seem advanced in one sense.
My cousin is with Co-op but she feels their internet banking lets them down.

HBOS has save the change (same group)......

They score totally differently, HBOS have adapted to the LBG systems but their scoring model is based on their own existing version just interlined to Lloyds with the addition of some codes, such as CPD99 etc....

HBOS is easier to generate credit from. In fact they updated the CRA feeds today so I'll apply to increase my OD later in the week as it should have updated (or reduced) my pre-approved limits

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

HBOS has save the change (same group)......

---> Bank of Scotland | Help Centre | Debit Card

main linky ---> Bank of Scotland | Bank Accounts | Help | Save The Change®

[Bosieb]

Re: Impact of One Missing Payment!!!!

Thanks for the link, never noticed that save the change with them before. How would you rate them say against HSBC? I'm not too keen on their secure key, preferred it without that.

[Never-In-Doubt]

Re: Impact of One Missing Payment!!!!

Thanks for the link, never noticed that save the change with them before. How would you rate them say against HSBC? I'm not too keen on their secure key, preferred it without that.

Ermmm guess you never seen this humongous complaint?

---> Niddy vs HSBC - allaboutFORUMS



I wouldn't touch HSBC with a bargepole.