Late Payment

Do Companies Report a Late Payment If It’s Only a Few Days Late?

If you miss the due date for a payment by a few days but then catch up, it shouldn't appear in your credit report. For a late payment to appear on a credit report, you must miss a full billing cycle. That means your payment must be a full 30 days late.

For example, if your bill is due on the first day of the month but you don't make the payment until the third day of the month, it won't be reported to the credit bureaus. If you still haven't paid it and the next billing statement arrives, it will be reported. At that point, it would be reported as a being 30 days late.

That doesn't mean you won't see other consequences from the lender. If you miss your payment by even a day or two, you could face penalties such as late fees or an increase in interest rates on the account. The fees and higher interest will affect you financially but they will not appear in your credit report.

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Scoped on: 8/22/2017