No. of Recommendations: 2
The only time I used it was one week in late April; they've got zero for May billing, then $268 in June (which wasn't from a purchase, unless it was from 4/20 or so) and then $40 late charge every month.

Was the purchase that you made for $268? Because if it was, that timing probably works from a credit reporting perspective. Most credit card companies report to the credit bureau based on when the payment is due, not when the bill is produced.

In your case, if we assume the purchase was made on 4/20, the bill showing the payment due probably would have been produced/sent in early to mid-May (in theory, anyway), with the payment due 3 - 3 1/2 weeks later - probably in early June. So the credit bureau would show it as a June balance.

Ugh--the only negative on my credit report and it's really glaring.

Yep. A charged off account generally has a pretty significant impact on your credit score.

AJ
Print the post  

Announcements

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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.