It’s funny that I just recently wrote about my worries about making a late payment. No sooner than the digital ink was dry, I had a late payment. I completely missed one of my credit card bills. However, the problem really wasn’t with me or the system I have in place for paying my bills but with my mail. I had signed up for the University Iowa Bank of America card for the equivalent of $250 via a promotion they were running(they are no longer running it). I got the card in late July, and started making purchases to qualify for the promotion.

In the middle of last month, I began worrying about my payment. It had been what seemed like a month since I received the card, but still no statement. When I called the automated information service there was no statement issued. I filed the worry away, and worried instead about other more pressing financial matters, like what was I was going to have for dinner.

This week I called again since I still hadn’t received a bill. As fate would have it my bill was due last week, and I was 5 days past due. I got hold of a customer service representative and explained my situation. I told him I hadn’t received any bills, and given that this was my first statement I had no sense of when the due date was. He was kind enough to give me a credit for the $29 late fee, and send me another copy of the bill. Later that evening, I then signed up for online access for the credit card and paid my bill. I had hoped to avoid signing up for online access as this was a card I had no plans on using on a long term basis.

Given that I’m only 5 days late on the payment, my credit score should not be be affected. 60 day past due is typically when a late payment is reported to the credit agencies, though some companies will report individuals after just 30 days. I also got the late fee waived, so I’m not paying anything extra. Though I’ll have to wait to the next statement to see if I end being assessed interest on the balance, though that should be minimal. However this mistake was a reminder to me why opening too many credit card accounts for every single promotion really can be a hassle. Yes, $250 is worth it assuming the ding to my credit score is immaterial and quick repairable (which it is), but the hassle gives me more pause on signing up for the next promotion I come across.