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 1263 times)

Offline JACKBLUE

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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 donít pay, they have the right to report it, now itís 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.

Offline Davidthebest

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Classic DROPR.
If you owe the bank money and you donít pay, they have the right to report it, now itís 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.

Offline Mootkim

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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

Offline Naftuli19

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Online tzifanya54

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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.

Offline Mootkim

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Call have late fee removed as a courtesy. Pay bill in full, and then cancel card. Get check back for the credit.
Thanks I did basically that. When would a late fee be posted in general? Because the day after the due date (20th) there was no fee. I cancelled that day and made a payment the following day on 21st. Today it just shows cancelled with a credit of $125 (meaning the fee was removed and my payment went through). In a regular case would a fee have been put on already?

Offline danfan5773

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+1
Citi didnít charge me late fee but after 2nd month not paying they did charge and it effected credit report.

Online tzifanya54

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Thanks I did basically that. When would a late fee be posted in general? Because the day after the due date (20th) there was no fee. I cancelled that day and made a payment the following day on 21st. Today it just shows cancelled with a credit of $125 (meaning the fee was removed and my payment went through). In a regular case would a fee have been put on already?
Sometimes if itís just a few they wonít charge a late fee on it. YMMV.

Offline maxie m

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BofA charges interest and reports as well
Dumb people learn from their own mistakes,smart people,from the mistakes of others

Online tzifanya54

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Sometimes if itís just a few they wonít charge a late fee on it. YMMV.
ETA If itís just the fee with no actual money owed, typo there.

Offline Naftuli19

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Update:

YMMV on BOA i had 1 of 4 reported to credit b after 90 days
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Offline Davidthebest

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Update:

YMMV on BOA i had 1 of 4 reported to credit b after 90 days
Are you planning to fight it ?

Offline Naftuli19

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Offline Naftuli19

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Offline JACKBLUE

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need more time ;D
You should make this a priority, this can sit on your report for 7 years.

Have you been approved for new accounts since?