🚨 Download MaxRewards: ➡️ USE CODE: shifu
💳 Credit Card Guide:
Click “show more” for ad disclosure

Credit Shifu Wallets:

“The content in this video is accurate as of the posting date. Some of the offers may no longer be available.”

Advertiser Disclosure: This site is part of an affiliate sales network and receives
compensation for sending traffic to partner sites, such as CreditCards.com. This
compensation may impact how and where links appear on this site. This site does not
include all financial companies or all available financial offers.

Hey credit Warriors welcome to the show Now I logged into my Chase Inc business Preferred Card account a couple of days Ago and I was shocked to see a message In there saying we did not receive your Payment and a 40 missed payment fee on The account Yes mine blown okay because I pride myself on always paying all my Credit cards both business and personal On time info so I never pay interest and I never have a missed payment fee and no Bad information gets reported to my Credit report and you should do that too Okay it's the only way to be so in this Video I'm gonna tell you what happened How I missed a payment okay also how I Was able to get that 40 missed payment Fee refunded and how I prevented any bad Negative information appearing on my Credit report if you like the sound of That do please subscribe to the channel If you are new for more credit card and Personal finance tips and tricks almost Every day and let's get started so Here's the back story on what happened Basically Last year me and my former Business partner split our company in Two I took half the assets including This YouTube channel a couple of other Ones and he took our other generation Tech YouTube channel that we used to do Together hey co-stars welcome to another Generation films video my name is British Ben a few others that he had and

Started his own LLC I started my own LLC Okay it was a happy split we just went Our separate ways we wanted to do our Own things but anyway we shot down our Chase business bank account for that Previous LLC now the bank account that Had autopay enabled because you should Always enable autopay all right I've got Autopay enabled on all of my cards so I Never miss a payment on my personal Cards I just enable for the minimum Payment on my business cards it's Typically enabled for the full payment But anyway the bank account that was Connected to this Chase Ink preferred Okay for autopay was actually that old Business bank account that we shut down Now what I realized had happened was That every month after that because we Just had not that much going on to that Card because we're shutting the company Down still a few little subscriptions Here and there and little things but Because Um we were shutting that down and we're Only charging small amounts to it I was Actually paying off that card each month Just manually before autopay kicked in So I realized for about almost a year Now autopay hasn't actually ever been Activated on that card because I paid it Off before the balance was due but this Time this month okay I guess we had some Clients that paid late or just there

Wasn't as much money swimming around the Account so I decided to leave it as long As possible all the way until the due Date and let the auto pay kick in now I Received a text message on the phone Saying autopay is scheduled and then Last Monday we've received your payments So I thought nothing of it but um Because that account didn't exist Anymore instead of Chase realizing that You would have thought right that the Bank it's their account and you'd think Their system would be intelligent enough To realize oh this account doesn't exist The payment's going to bounce okay I'd Forgive them it was like another bank That they don't have access to but it's Their own account right they should have Realized but they don't okay so don't Assume that because the bank system Isn't necessarily set up to know that And account that's handled by a Different department doesn't exist Anymore because the account didn't exist The payment bounced when I realized that I was kind of like okay all right it's Kind of my mistake but I kind of blame The bank too so what you do in this Instance you phone up the number on the Back of the card so I phoned up and I Explained the whole thing I was pretty Calm although I did say I'm a bit Annoyed about this but hey I wasn't mean To the guy because it's not his fault

He's just working in the call center and I explained the whole situation so Immediately I finished speaking the guy Actually said to me okay because you Have a perfect payment history on this Card and you always pay more than the Minimum payment and in fact you've Already paid off this payment okay I've Already made a payment to get rid of That late payment I can reverse the fee So he immediately refunded forty dollars Into my account so from what I observe As long as your payment history is Perfect and you're always paying more Than the minimum balance because that Shows that you're not like just Struggling to make payments you're Actually you know you're a decent Customer you're trying to pay off your Card in full every month and that Benefits you so you don't pay interest Either and before you make the call you Already pay what you owe okay I think That's important too because if you Still owe the money and you're trying to Get a late payment fee reversed and you Haven't paid off the charge yet they're Going to be like well I mean I can't do Anything until you pay it because what If I reverse a late payment fee then you Go pay it and it goes to collections or Something right definitely pay it off Before you make this call but as long as You got the perfect payment history and

You're paying more than the minimum Balance they should reverse it for you If it's the first time okay if it Happens a lot then I think they're Probably not they're probably gonna be Like well this is what late payment fees Are for I guess to deter you from doing This but if it's the first time most Card companies probably will reverse it Um as a courtesy maybe not on the really Sort of low level cards the ones that Are like trashed here all right but on Decent credit cards like Jace Amex city Um I think they probably will reverse it Like they did for me but how do you stop This happening in the future well like We said at the beginning always have Auto pay enabled at least for the Minimum payment so if you enable it for The minimum payment you don't get hit With a late payment fee and you won't Get any negative information reported to Your credit report but you would pay Interest if you didn't pay the full Value okay so it kind of gets rid of two Negative things not the third you'd have To manually pay off the rest before the Due date Um if you wanted to pay the third now You can see the due dates on all your Cards a great way actually is to use the App Max rewards which gives you Information about all your credit cards In one place and you can actually see on

Their upcoming bills so it will tell you You don't have to individually log into Different accounts you can actually see Your upcoming bills coming up on there Um and so you have a little bit of Warning it even sends you push Notifications Max rewards of course it's A great app it basically gives you the Information on all your credit cards From different issuers in one place they Do have a bit of trouble collecting with Chase recently they are trying to sort That out but they work with all the Other major issuers so Amex City Capital One you name it you can view information About all your accounts in one place and For American Express uh it's actually Really good as well because if you have The Gold version you can get a free Month of that below by the way it will Activate all your Amex offers for you so That you never miss a deal you get the Offers added to your card without even Knowing it you might even save money use Them accidentally and come home to an Email saying you save some money or earn Some extra points or something so anyway Max rewards it's a great tool for Keeping info on all your cards in one Place and never missing a payment Because you get all the due dates in There and stuff so that's autopay always Have autopay enabled but then how do you Stop negative information getting

Reported to your credit report well you Might not know this but actually late Payments are only reported to your Credit report if they are 30 days late So as long as you realize within a Reasonable amount of time okay so using An app like Max Rewards or just checking Your accounts periodically Um you go in and you pay it off okay so As long as you realize it in time before 30 days that you've got a late payment You pay it off nothing's going to get Reported to your credit report now that Doesn't stop obviously the other things Like late payment fees and stuff so you May have to call if it's your first time With a late payment for you get that Canceled but yeah for the credit report Side of it as long as it's not 30 days Late and you're paid off you'll be Nothing negative will report so that's My story guys of my first ever missed Credit card payment thank goodness I Realized before 30 days and also I was Able to pay it off in a timely manner And get the fee refunded do you guys Have a similar story about this do leave Your comments below don't forget you get A free month of Max rewards gold with my Link below as well please subscribe to The channel I'll put my credit card Guide below too if you're interested in Signing up for any of the credit cards That I do recommend in my videos we

Thank you very much if you use our links It helps out the Channel Please Subscribe you're new we'll see you next Time bye [Music] [Music] Thank you [Music]