I have a credit card that I pay off in full every month. I have never been late on the payments. Recently, I made a mistake. I made a pay-by-phone payment on a Friday at 8pm when I should have made it at 4pm. This made my payment late and it didn't process until Monday. This happened last month and I have already paid this months balance, (which included the late fee) in full and on time as usual. I take my credit very seriously and I do not make a habit of being late with bills. In fact, that is the only time this has occurred. How badly will this reflect on my credit score? And is this one of those things that won't come off until 7 years?

Hello p:

If your credit was pristine, you're going to suffer a few points deduction because you now have a 30 day late pay. It's true. It's going to stay there for 7 years. Your credit score will go up before then as long as you don't have any more late pays..

excon

What does 30 day late pay mean? I did pay the full balance. It was just processed the next weekday. So instead of being paid friday(the due date), it went through Monday.

Hello again, p:

You have 30 days within which to pay your bill. If you miss it, by one day, as you apparently did, you're 30 days late.

excon