No. of Recommendations: 0
Hi All,

I'm relatively new to this board, but I posted here a couple of times. let me first thank you all for all the goodhearted support and encouragement you spread around.

My situation is as follows. I have a very short credit history. I am 28, a graduate student (I get a stipend and I work at the University), and I've only been in the US for a year and a half. I have two credit cards, a Visa from my credit union with a $4000 limit and a student AmEx with a $2400 limit (both are unsecured, and I only have them a little over a year). I pay my bills on time, so no revolving credit, and no finance charges. Ever (or so I thought). I probably have too many inquiries in my credit report, since when I just got here I applied (and was denied) credit numerous times. I guess I shot way over my league.

Last month I paid one part of my AmEx bill early, so that took care of the minimum payment. Towards the end of the month I tried to pay the rest of my bill ($100) online. However, AmEx tried to pull the money from my (new) Online Bank Account, where the checking account didn't have enough to cover the payment, but the MMA did. Of course, I didn't know that the two accounts were NOT linked. So the payment was denied.

AmEx charged $29 "returned payment fee" and some small change as finance charge (luckily, I caught it on time). I called to explain, and they waived the fee as a courtesy.

My question is, what effect, if any, will this have on my credit report?

Thanks for any comments,
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.