Hello all...I just pulled my EXP report and it shows that I was 30 days late twice on my car loan, which is not true. I was less than a week late one time, and that's it. I even called the loan company and they never showed me late. My question...is 30 days the minimum that they can put on your credit report? I have never seen "1 week late" on a credit report before. They can't just "round up" to 30 days, right?
they shouldn't, but they can. Just like your phone bill, you use 3 seconds, but they charge you for a whole minute! They usually have some sort of grace period though.
I believe the 30 day incrments are b/c the credit card or loan statements roll over every 30 days, so even if it's one day late, it has rolled to the next statement period, which is how they are counted.
none of mine have ever reported them late, luckily. I know jcpenney waits til they are 60 days, before they report. I paid cap one 3 days late once, and they never reported either.
