Lates

goldenbast - I'm not sure if this is something done by the credit bureau, or the creditor themselves. Maybe the system only allows them to report as 30 days late when it was 1-30 days late, then 60 days late if it was 31 - 60 days late? Maybe there's no breakdown for a particular number of days, but only a set timeframe for them to report it as number of days late?

Just a thought. I'm sure someone else will offer more concrete info.

Quite simply, no. An account has to be more than 30 days past the due-date before it can be reported as delinquent. That comes straight from the bureaus.

I'm not sure how reporting goes, but some creditors won't hesitate to slap you with a late fee even if you are 1 minute late.

With Wachovia who finances my Jeep, I discovered that they won't slap you with a late fee or report until it goes more than 10 days late ( which has helped me ride over that gap inbetween paydays ), but Ge Money, who finances my lousy Paypal credit account ( which I can't wait to pay off and close ) counts it late if you don't log in and pay your bill EXACTLY 48 HOURS BEFORE IT'S DUE. Just Ge Money's little way to collect late fees from you. It makes me so mad. I can pay online or over the phone the day before it's due date, and it's considered LATE.

oops, can someone delete my double post? Sorry! :oops:

Yes Amaranth, the late charges are a different story. Most installment lenders (your car, etc) have laws that say they can't charge a late fee until it is 10 days late. Believe me, they would charge it over a single day but they can't.

Credit cards can charge a late fee if you're a day late, because you've already had 30 days from the statement date to pay it.

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