How to Deal With Late Credit Card Payments

Even the most organized individuals may accidentally make late credit card payments. Vacations, moving and other events cause distractions. However, once you miss credit card payments, it's important to take action right away. Payment history makes up the largest chunk of a credit score, according to MSN Money.

Instructions

1

Pay right away. Contact the creditor and make the payment over the phone if possible. If your lender can't do this, send a payment through mail or online banking.

2

Ask the lender to remove the late fee. Consumers with a positive track record (very few late payments) have more leverage. Contact the customer service number for your credit card company and ask to remove the late fee. Explain the circumstance that caused the late payment (out of town, moving, ect).

3

Speak with a manager. If the customer service representative doesn't have the authority to remove the late payment fee, talk with his manager. If you have numerous late payments on your account, the manger might not be flexible. However, if you only have an incident or two in the past, she may agree to lift the fee.

4

Request that the late payment not be reported to credit bureaus. If the creditor agrees to remove the late fee, get a verbal agreement that the company won't report the late payment. If they do, this will adversely affect your credit score.

5

Review your credit report. Consumers are entitled to a free credit report every 12 months. If you haven't ordered one lately, request it. Free credit reports can be ordered with Annual Credit Report ("see Resources"). Review the credit report to ensure the credit card company didn't place a late payment on your account.