Credit Score lowered

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bigalpal
 
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Credit Score lowered

Postby bigalpal » Tue Dec 02, 2014 10:38 am

After 40 years of excellent credit and never late, I missed a bill, and was over 60 days late, on a brand new B of A card. It lowered my score 100 points! I contacted them, explaining what happened, and even paid off the bill in full. They will not budge. Any suggestions? I am new here- hope I chose the right place to be!


yfan
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Postby yfan » Tue Dec 02, 2014 2:36 pm

Sorry this happened to you. But yes, late payments will lower your score in a hurry, and the more recent the late payments, the worse the ding. I doubt you'll get BofA to take it off your credit report. Just don't be late again and your score will eventually rebound.

takeshi
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Postby takeshi » Wed Dec 03, 2014 9:00 am

That's precisely why you want to avoid derogs. You can try a goodwill request but the'y're not obligated to comply. Do whatever it takes to avoid derogs in future. You can schedule payments ahead of time, set up automatic payments to cover at least the minimum, etc.

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djrez4
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Postby djrez4 » Wed Dec 03, 2014 9:29 am

takeshi wrote:You can try a goodwill request but the'y're not obligated to comply.


This right here is your only hope. Write a letter (no phone calls) requesting that BoA remove the reporting as a goodwill gesture. Cite your long relationship with the bank (if this wasn't your first BoA card) and history of good payment. Then, pray or meditate or whatever.


takeshi wrote:set up automatic payments to cover at least the minimum, etc.


Do this immediately to avoid the issue in the future. You can always pay more, but at least you'll have the minimum covered every month.
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randeman
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Postby randeman » Sat Dec 06, 2014 9:46 am

Practically every bank and credit union in the USA has online bill pay that someone can set up to automatically pay any bill on any date in perpetuity. Even if you PIF or pay more than the minimum due every month, a person can at least set their account up to pay the minimum payment to keep late payments from happening. I am sorry you were late, but it's hard for me to sympathize since bill pay service availability is widespread.
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ingramjuan
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Postby ingramjuan » Sun Dec 07, 2014 10:52 pm

Would suggest writing a letter and still talk to a supervisor at BOA. You should mention your long standing history with the company.
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LianaCCB
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Postby LianaCCB » Mon Dec 08, 2014 2:36 pm

They may remove it, or you can contact the credit bureaus directly to dispute it with them and hopefully they will remove it.
Autopay is definitely the way to go - even if you make multiple payments per month (if you pay it in full). Maintaining a busy schedule, auto payments are the only way I can keep track of things without them falling behind.

whit
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Postby whit » Mon Dec 08, 2014 8:33 pm

randeman wrote:Practically every bank and credit union in the USA has online bill pay that someone can set up to automatically pay any bill on any date in perpetuity. Even if you PIF or pay more than the minimum due every month, a person can at least set their account up to pay the minimum payment to keep late payments from happening. I am sorry you were late, but it's hard for me to sympathize since bill pay service availability is widespread.


I was like you and still sort of am, enough sob stories not just pertaining to this but other nature similar makes you realize that all it takes is that one moment of fk up

i would think there's no excuse if, once you receive a card because you're approved they'll attach a form with option to do that minimum or in full pay option, just attach a check voided, sign permission & select option wanted

lots of people for whatever reason wants full control, not even minimum paid
and a good number of them also distrust online banking
and no they're not all senior citizens

it doesn't hurt to ask OP but I wouldn't hold my breathe, esp with bofa..the stories I can tell u..plus even if it was another bank generally if it's user error, they won't remove it on the reports



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