Author Topic: If I don't pay the annual fee on my CC can that be reported as a missed payment to credit bureaus? (Read 4797 times)

Davidthebest · « **on:** May 19, 2020, 02:52:04 PM »

I have my $95 annual fee on my Marriott card due,
Without any other balance on the card, I figured I would wait out for a retention offer to become available before I decide to keep the card and pay the AF, rep. Advised me that if I ignore the charge and I don't pay it, it can't be reported as a missed payment or affect my credit since its only a fee from the bank.

However now when I logged into my account I do see a late payment poasted on that $95 annual fee.

Is this misinformation? Can it be reported?
I tried to Google it and found no clear answer.

mmgfarb · « **Reply #1 on:** May 19, 2020, 03:18:21 PM »

The rep was wrong

AJK · « **Reply #2 on:** May 19, 2020, 04:43:48 PM »

Indeed. Absolutely can and will be reported.

Davidthebest · « **Reply #3 on:** May 19, 2020, 04:52:46 PM »

Interesting.
I called today again spoke with a supervisor, he basically said that its right that if it's only the AF then they will not add any late fees or reporting to credit agencies, however since i made another charge after the AF posted, even though the charge wasn't due yet and even though I paid off that charge, that will trigger a late payment in the system.

Naftuli19 · « **Reply #4 on:** May 19, 2020, 05:04:21 PM »

Quote from: AJK on May 19, 2020, 04:43:48 PM

Indeed. Absolutely can and will be reported.

I have a few cards that the AF wasn't paid and nothing showed up on my reports nor did i get any late fees, after a few months they just closed the card

AJK · « **Reply #5 on:** May 19, 2020, 05:11:12 PM »

I should have been clearer. It's always up to the issuer, but I believe the failure to pay late fee/interest is reportable.

Which bank was OP talking about?

Which bank are you talking about, Naftuli19?

Naftuli19 · « **Reply #6 on:** May 19, 2020, 05:13:03 PM »

Quote from: AJK on May 19, 2020, 05:11:12 PM

Which bank are you talking about, Naftuli19?

BOA, Citi, and AMEX that i can remember.

Dan · « **Reply #7 on:** May 19, 2020, 05:15:59 PM »

Chase charges interest on unpaid annual fees.

Davidthebest · « **Reply #8 on:** May 19, 2020, 05:56:02 PM »

Quote from: AJK on May 19, 2020, 05:11:12 PM

I should have been clearer. It's always up to the issuer, but I believe the failure to pay late fee/interest is reportable.

Which bank was OP talking about?

Which bank are you talking about, Naftuli19?

Amex

bermo · « **Reply #9 on:** May 19, 2020, 07:28:44 PM »

Just to add to the list
Barclay's doesn't charge late fees or interest
But they do report it

leaf · « **Reply #10 on:** May 19, 2020, 07:37:17 PM »

Quote from: Dan on May 19, 2020, 05:15:59 PM

Chase charges interest on unpaid annual fees.

Citi does as well

sams · « **Reply #11 on:** May 19, 2020, 09:32:37 PM »

Capital one charges interests and reports it

justmeha · « **Reply #12 on:** May 19, 2020, 09:42:24 PM »

wiki & change title?

Davidthebest · « **Reply #13 on:** May 19, 2020, 09:43:51 PM »

Quote from: justmeha on May 19, 2020, 09:42:24 PM

wiki & change title?

You read my thoughts.
However was asking about late payment , question is if interest and late payment goes hand in hand

For a wiki you need more accurate data points

Amex it self to me was conflicting.

a good yeshiva bachur · « **Reply #14 on:** May 19, 2020, 10:30:20 PM »

Citi didn’t charge me...

JACKBLUE · « **Reply #15 on:** May 19, 2020, 11:29:18 PM »

Quote from: Davidthebest on May 19, 2020, 02:52:04 PM

I have my $95 annual fee on my Marriott card due,
Without any other balance on the card, I figured I would wait out for a retention offer to become available before I decide to keep the card and pay the AF, rep. Advised me that if I ignore the charge and I don't pay it, it can't be reported as a missed payment or affect my credit since its only a fee from the bank.

However now when I logged into my account I do see a late payment poasted on that $95 annual fee.

Is this misinformation? Can it be reported?
I tried to Google it and found no clear answer.

Classic DROPR.
If you owe the bank money and you don’t pay, they have the right to report it, now it’s up to bank to decide if they want to or not. But never rely on a rep for such a thing, a late payment even of a few $$$ can stay on your report upto 7 years.

Davidthebest · « **Reply #16 on:** May 20, 2020, 12:19:28 AM »

Quote from: JACKBLUE on May 19, 2020, 11:29:18 PM

Classic DROPR.
If you owe the bank money and you don’t pay, they have the right to report it, now it’s up to bank to decide if they want to or not. But never rely on a rep for such a thing, a late payment even of a few $$$ can stay on your report upto 7 years.

Thats correct. However I knew some info that annual fees imposed by the issuer are different
Then money you actually owe.
And the rep. Just confirmed me that.

Mootkim · « **Reply #17 on:** May 20, 2020, 08:30:00 AM »

My wife's marriott card with amex ($125 fee) was due yesterday and I completely forgot about (first time ever). Today she got an alert that it was due etc. and to avoid apr increases she should make the payment immediately. I have not made any charges on the card in ages. My question is does it make sense to cancel the card (which I was thinking about doing anyway when it went up to 125 and then the fee will be removed retroactively? Should I make the full payment right now just to ensure its paid and then cancel to get the fee back?

Tia

Naftuli19 · « **Reply #18 on:** May 20, 2020, 10:58:28 AM »

Quote from: a good yeshiva bachur on May 19, 2020, 10:30:20 PM

Citi didn’t charge me...

+1

tzifanya54 · « **Reply #19 on:** May 21, 2020, 08:13:56 PM »

Quote from: Mootkim on May 20, 2020, 08:30:00 AM

My wife's marriott card with amex ($125 fee) was due yesterday and I completely forgot about (first time ever). Today she got an alert that it was due etc. and to avoid apr increases she should make the payment immediately. I have not made any charges on the card in ages. My question is does it make sense to cancel the card (which I was thinking about doing anyway when it went up to 125 and then the fee will be removed retroactively? Should I make the full payment right now just to ensure its paid and then cancel to get the fee back?

Tia

Call have late fee removed as a courtesy. Pay bill in full, and then cancel card. Get check back for the credit.