(Solved) Missed Credit Card Payment Reported to Credit Agency

[Deactivated] on 20/11/2020 - 10:08
Last edited 20/11/2020 - 19:35 by 1 other user

Bank privacy correction team has knowledged the issue and will rectify it at their end.
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My credit card was full and then I mistakenly used it for a small job on Airtasker ($33) in Oct, the bank then charged annual fee ($55) in same month. The bank says they send a statement every month and it is customers responsibility to check. Never received a single letter about it in mailbox and statements were only showing up in email.

I usually have my card fully paid and with an excellent credit score. They didn't send a notification or an alert that the repayment was due but managed to call me on 4th to inform that I have been reported to the agency as they do It every month and now the payment is due so I should make it asap which I did on the same day 5th November. My regular ING bank send alerts if the payments are due so does the utility companies and telcos.

My score had been hit by this from 8xx to 6xx and I want to report this. Any guidance about the next available steps?

Financial

closed Comments

  • Okayy on 20/11/2020 - 10:11

    All the banks report payments every month now! Not to worry you will get those meaningless points back in some time and to avoid such issues setup Direct Debit.

    • [Deactivated] on 20/11/2020 - 10:18

      recovery in 18 months.

      • pegaxs on 20/11/2020 - 11:54

        Are you looking to gain a line of substantial credit in the next 18 months? (Car loan/house loan/higher credit card limit??) If not, they are meaningless numbers.

  • bobbified on 20/11/2020 - 10:15
    +4

    Unfortunately, the responsibility to pay your card lies with you.

    Did you receive the statement that they said they sent you? With internet banking available nowadays and the ability to set alerts with most banks, it's going to be quite difficult to argue that you didn't know an amount was due.

    Having said that, you could try and escalate it using the bank's internal dispute resolution processes and hopefully get them to agree to remove the report.

  • dazweeja on 20/11/2020 - 10:31

    So do you get a credit card statement every month telling you what you owe and the due date? I have with every credit card I have owned. If your other bank and utilities give you repayment reminders, that's a nice feature they're offering but they're certainly not required to do that.

  • jv on 20/11/2020 - 10:33
    +10

    Any guidance about the next available steps?

    Pay your bills on time…

    • [Deactivated] on 20/11/2020 - 10:43
      -4

      Excellent credit score didn't prove that?

  • ShortyX on 20/11/2020 - 10:35
    +2

    I don't quite understand. Did you pay the full balance by the due date on the statement?

  • RM on 20/11/2020 - 10:43
    +1

    So you reckon it should be the credit provider's responsibility to set reminders for you for using their money?

    You need better planning I am afraid. Every bank has a different way / process. Westpac does not have to copy each and every process that ING has - whether it is customer friendly or not.

    Some banks will waive this off depending on the regularity of instances - but again every bank DOESN'T HAVE TO.

    Suggest you use your smart phone to set up reminders for yourself - statement dates / due dates etc for your utility bills / credit card bills. Easiest would be to set up auto-debits…your call. But all in all - it is definitely your responsibility.

    I know late payment fee and dent on your credit score isn't easy to digest - but take it as a learning and move on. It hopefully won't affect massively if you are able to track these with help of techology/banking features.

    Edit - to add, banks not only report missed payment but also report payments made on time.

    • jv on 20/11/2020 - 10:45
      +4

      I am afraid

      No need to be afraid.

      • [Deactivated] on 20/11/2020 - 11:04

        lol

  • plmko on 20/11/2020 - 11:16
    +4

    Who cares, credit scores mean very little in Australia. And further to that not all credit events are regarded equally.

    • pharkurnell on 20/11/2020 - 12:17
      -1

      Except when your going for a loan… then for some reason it means more than oxygen to humans.
      as in OP's case, miss 1 or 2 payments in 18mths you are then deemed a risk. when it was 30bux.

      • whooah1979 on 20/11/2020 - 12:25

        People can now get loans from fintech that doesn't require credit checks.

  • Gronk on 20/11/2020 - 11:21
    +2

    If I'm late on a CC payment by a single day my bank literally carpet-bombs me with SMS messages so I'm not sure I'm buying OP's story…

    • [Deactivated] on 20/11/2020 - 12:46

      haven't received any text message since April.

  • Settero on 20/11/2020 - 11:36

    westpac offers reminders as well. its a option not default as what is the point of a reminder if you have a direct debit set up. for the app card services >repayment reminder , gives u 3 options push , email , sms.
    statements come monthly , and if you selected estatments that on you…

    they are obligated to report missed payments, i dont see h ow they can now retract this report from the reporting agency ?.

    • pharkurnell on 20/11/2020 - 12:18
      -1

      its a option not default

      IMWO - thats poor.

  • tsunamisurfer on 20/11/2020 - 12:36
    +2

    My credit card was full and then I mistakenly used it for a small job on Airtasker ($33) in Oct

    Owning the fault, this is a good start.

    the bank then charged annual fee ($55) in same month

    Yes…that happens.

    The bank says they send a statement every month and it is customers responsibility to check. Never received a single letter about it in mailbox and statements were only showing up in email.

    I believe the bank. Looks like you are trying to shirk responsibility.

    They didn't send a notification or an alert that the repayment was due

    They don't have to, and for $55???? Yep, you are trying to shirk responsibility.

    My score had been hit by this from 8xx to 6xx and I want to report this. Any guidance about the next available steps?

    My advice is to take responsibility for your own errors.
    - You maxed out your card leaving no room for unforeseen expenses.
    - You didn't clear your balances in time.
    - You expect the bank to notify you of every spend? WTF.

    • [Deactivated] on 20/11/2020 - 12:47
      -1

      You maxed out your card leaving no room for unforeseen expenses. (Seriously?)

      • tsunamisurfer on 20/11/2020 - 13:10
        +1

        Can you offer a retort on which part of my sentence is incorrect and why?

      • dtxau on 20/11/2020 - 13:11
        +2

        Yes, it seems like you are blaming everyone else but yourself. Why didn't you explore the app to see notifications that could be set up? If you were so forgetful, set up reminders like everyone else does. Then you wont find yourself in the same situation. Geez, not that hard.

        • [Deactivated] on 20/11/2020 - 15:03
          -1

          that function is on and the said sent messages which never made it on phone. last text received about due date was back in April.

  • Mechz on 20/11/2020 - 13:46

    Westpac sends me an sms to say my payment date is soon even if I've already made the payment.

    Also, calendar reminders are an easy way to remember your close-to-static payment due date. I set mine for a few days before for breathing room.

  • netjock on 20/11/2020 - 13:47
    +2

    Probably a good lesson and just move on, I don't think there is much you can do.

    • [Deactivated] on 20/11/2020 - 15:03
      -2

      Nah i don't give up on things like that. move along.

  • trashcan on 20/11/2020 - 18:41

    When was the payment due and when did you end up making the payment? Late payments are only reported when payments are over 14 days late.

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