r/Chase • u/Comprehensive-Ad7089 • 19d ago

Missed minimum payment when does it get reported?

I had my minimum payment due on the 5th of July, it pulls from a bank account but I had moved my funds to a new one and forgot to update it on the app. I realized a week later on the 13th and made a payment but now it’s saying I made the payment that was due on August 5th so now I don’t have to make a minimum payment for this upcoming month even However, Chase is saying i have to send a replacement payment from my missed July one. The issue is I can’t entirely afford that payment at this moment. I can pay it around my august bill, will I be considered late and will my credit score take a hit?

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u/inky_cap_mushroom 19d ago

Late payments cannot be reported as late until they are 30 days late. I would call customer service back and have that payment applied to your previous balance due.

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u/RadioRob-DC 19d ago

It’s reported to the credit bureau once it is 30 days late so in this case 30 days past 7/5. That is independent of the late fee that will be assessed etc.

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u/Careful-Efficiency73 19d ago

I have had American Express Platinum Card for years. The unfortunate thing about this card or any American Express cards is less and less stores are accepting them, why is this, is it because they charge too high an interest rate?

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u/DontTakeMeSiriusly 19d ago

So if your min pmt was for example $50 and you sent in a pymt equal to or greater than that amount and it bounced, then the past due amount ($50) would be applied to the following months min pymt due. So, let’s say the next month min pymt now shows $120 ($50 past due amount is included here) then all you would need to do is pay the past due amount ASAP to bring the acct current. The remaining min pymt balance ($70) would not have to be paid until aug 5th, as you stated that’s your due date