[Anonymous]

I recently got a Lowe’s Credit Card to take advantage of the discount when I bought some stuff for the house. I paid the bill in full and forgot about it. The trouble is that I used it another day and then forgot to pay the bill because I’m a creature of habit and wasn’t accustomed to even having the card. The result was a late payment on an outstanding balance of $20 or $50 or some other trivial amount. I know that they are reporting that as a missed payment to the credit bureaus.

My question: I’m sure that if I complain a little bit that they’ll waive the late fee seeing as I just got the card and I am a prized customer for any home improvement store to have. What I’m really concerned with is them reporting to the credit agencies that I missed a payment. Is it possible for them and could I ever convince them to change the way that they report to the credit agencies?

[mla1169]

One late payment ( as long as it isn't a YEAR late or something crazy like that) is generally not a problem, especially on a small balance. Lowes doesn't manage its own credit card/reporting, its going to be a large financial institution (probably chase or something similar) so your gold star status as a home improvement customer doesn't mean anything to them.

Generally they report all statuses at the same time, but its not always every 30 days. Like say your payment was due June 1, but you didn't make the payment until July 10. If they didn't update to the credit agenies during those 6 weeks you'll likely never show a late payment.

Get a copy of your own credit report, you really should at least once a year.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

Thanks MLA. I do get it once a year but I just got it recently.I have a couple of other late payment showing which is what made me more concerned. I guess I'll just try not to forget to pay my bills on time and get over it. My credit score is pretty good.

[Author]

Replies