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Can A Late Payment Be removed? It is something that happens to people on a daily basis without intent. Forgetting to pay a bill by the due date. Careless financial organization when it comes to your bills can result in a late payment being reported to the... More

Can A Late Payment Be removed? It is something that happens to people on a daily basis without intent. Forgetting to pay a bill by the due date. Careless financial organization when it comes to your bills can result in a late payment being reported to the credit bureaus. It is important to understand how this works. Most revolving lines and credit cards have the same billing cycle every month, and this will give you the same due date month in and month out. If you miss that date, even by 1 day they will consider the payment late and will typically charge you a late fee. Some credit cards will even bump your interest rate up to 29. 99% even for being just one day late. This information can be found in your cardholder agreement. In most cases you will not be reported to the credit bureaus until after the account is past due for 30 or more days. It is very important to remember to pay before the due date, because late fees and increased interest rates can have a negative affect o Less