Universal default: how long does it take to strike.

[cookiebun]

Hi,
sorry if this has been answered before. I find myself caught up in this mess:
MSNBC "Did Chase pull a credit card bait and switch?" By Herb Weisbaum.
I'd been having more than the minimum payments deducted from my checking to pay off this debt. When the new rate kicked in I underpaid them by about $100. It was several days before I caught this error.
What I'm wondering, is this enough to trigger Universal Default? How long will it take my other creditors to start hammering me for underpaying Chase?
This happened in January and so far no one has cranked up my rates.

[noppenbd]

I think you will be ok. My understanding is unless it is 30 days late or more the CC companies will not report it to the credit bureaus, so your other CC companies will not find out about it.

[boosami]

I think you will be ok. My understanding is unless it is 30 days late or more the CC companies will not report it to the credit bureaus, so your other CC companies will not find out about it.

Correct, you don't have to worry about universal default in this case.

[Gossioii4]

this is very useful

Wow, this is very useful.. Thanks for sharing this and hoping I could implement it too.