Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
jkonauburn

0 Contributions
0 People Helped
Does a credit card company have to notify you if payment was returned?
I changed banks and when I made a payment on my credit card I entered in an incorrect digit when updating the payment info. I realize this is my error, but should I have not been notified when payment didn't go through? I did not know about it until the following month....Upon my next due date, still unaware, I log in, make another payment and move on with my life. The next day (so 30 days after the first payment using new acct), I get a letter telling me I owe a balance and am late. Confused, I immediately call the company to find out what's going on. They are not sure and refund my late fee. Now worried, a few days later I log into my checking acct to verify that second payment had gone through and obviously it had not. So I call again....again they can't tell me why. I finally ask them to confirm my bank acct number (since I cannot see the full number myself) and we figure out that's where the error is. I'm upset because at this point my credit card account has hit the 30 days past due and my credit score THAT I HAVE BEEN WORKING SO HARD ON plummets 54 pts. Had I been notified of the original returned payment, I could have gotten this all straightened out well before the 30 day mark. So again, my question is do they not have any obligation to tell me of a returned payment?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
935 Contributions
132 People Helped

The credit card has no legal obligation to notify you of a returned payment.  Had you sent them a paper check, you would probably have received a letter about the return, however, as electronic as our world is, you have have wanted to pay more attention when processing the payment.  Routinely,at the time you were entering the payment information, they would have done a hit to the bank and should have been a mark on the web page you were on that it was invalid.  Its often easy to overlook a failed message when you are accustomed to everything flowing a certain way for such a long period of time.  The only notice they were required to give you is on your statement that they had not received a payment.   However, if you are using the paperless option it would be your responsibility to review your statements.   Whenever you make payments, I suggest that you always do it a few days early and watch your bank account for the deduction.  if the deduction does not occur timely, you would still have time to make it timely should you need to resubmit.  I'm afraid the damage is done and you now just need to return to your pattern of timely payments to offset the negative remark. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.