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Question By
Beckancody

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1 Person Helped
overdrafts first late fee
I need help. What if you are late on your first credit card payment because you tried to call them and they didn't answer for 3 days and after they called me and I got a hold of them and paid my $25 payment and she told me she could give me a seven-day extension to pay the $25 late fee. and then told me I am due again in March. what I'm confused about is the late fee and if I won't be able to get ahold of them again to pay for it while I'm trying to build my credit up. I don't know if this is going to affect my score in a good way or bad way because I got this card to raise my credit and now I think it might be messing it up even more please help me someone out there this is my first card and also did not know you can overdraft on a limited card on a $300 limited card please help so I can get my credit score up and have a life!! I'm only 25 years old I'm trying to start my life on my own the right way and need help and have no parents to help me out with these questions please reply back

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There are so many things in your post that causes concerns (to put it mildly). Why you need to get hold of them to make a payment, why can't you make a payment thru mail, on-line, either from that account or push the payment from your bank way before the due date, why you wait until last minute before you attempt to make a payment and yes three days before the due date is "last minute", especially if it's your very first payment on your very first credit card, if you gotten a credit card to build your credit scores/profiles then why you charge it so much that it would go over the limit? and why didn't you keep track on how much you spend on the card (any card)? How could anyone possibly think by being late can be a positive thing to their credit?

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Not sure what kinda "help" you are seeking, what is done is done. Generally, lenders wouldn't report the late payment to credit bureaus until it reaches 30 days past due, so it might not have any actual effects on your credit score/profiles but rest assured the lenders themselves would keep track your payments and spending patterns. You really need to rethink this whole credit thing over, research the basics about credit card, for starter STOP using it, at very least until you learn how to make a payment on time.

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If you have any specific question(s)? I would suggest post it over at MyFICO dot com forums, you should get lot more answers and some very solid suggestions on how to build better credit.

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The expressed purpose of Credit Karma is to TEACH people how credit works and you need this education NOW!!  Read the articles on this site and used the financial tools here. This is not difficult information for those who pay attention.  You CAN do this.  Get the payments up to date and make sure your payments are mailed in five days early every month, and quit charging on the card until after it is paid in full.  It is not smart to pay interest on credit card accounts, except in extreme emergencies.

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