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YoungCreditLady
Posts: 5
Registered: ‎03-02-2010
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1 missed payment crashed my score!...is this normal?

I recently moved and missed a payment on my Kohls card b/c I forgot to change the mailing address and overlooked the email alert. I have NEVER missed a payment on any account EVER.  However, the measly $34 I owed dropped my score 75 points in one shot! Is this normal? Is there anything I can do about it?

 

I have since paid the balance, had the late fee removed and it appears Kohls has put my account back in good standing according to my ScoreWatch account. But no score increase! I'm really bummed because I've spent the last 2 years really working on paying down debt and raised my score over 100 points. To have all that undone by one missed payment really hurts. :smileysad:

 

Just wondering if there's anything I can do about it and/or if anyone knows how long it might take to get my score back up. Thanks a bunch!

 


Starting Score: 644 (2/26/10)
Current Score: 755 (7/31/12)
Goal Score: 800


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Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
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Re: 1 missed payment crashed my score!...is this normal?


YoungCreditLady wrote:

I recently moved and missed a payment on my Kohls card b/c I forgot to change the mailing address and overlooked the email alert. I have NEVER missed a payment on any account EVER.  However, the measly $34 I owed dropped my score 75 points in one shot! Is this normal? Is there anything I can do about it?

 

I have since paid the balance, had the late fee removed and it appears Kohls has put my account back in good standing according to my ScoreWatch account. But no score increase! I'm really bummed because I've spent the last 2 years really working on paying down debt and raised my score over 100 points. To have all that undone by one missed payment really hurts. :smileysad:

 

Just wondering if there's anything I can do about it and/or if anyone knows how long it might take to get my score back up. Thanks a bunch!

 


75 points? sure. I lost close to 100 when I missed the payment on same card. My miss was about 25$ and my total CL on all cards is more than 60k.

 

Luckily in my case it was their error so I got my score back.

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Valued Contributor
FinStar
Posts: 6,980
Registered: ‎10-21-2012
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Re: 1 missed payment crashed my score!...is this normal?


YoungCreditLady wrote:

I recently moved and missed a payment on my Kohls card b/c I forgot to change the mailing address and overlooked the email alert. I have NEVER missed a payment on any account EVER.  However, the measly $34 I owed dropped my score 75 points in one shot! Is this normal? Is there anything I can do about it?

 

I have since paid the balance, had the late fee removed and it appears Kohls has put my account back in good standing according to my ScoreWatch account. But no score increase! I'm really bummed because I've spent the last 2 years really working on paying down debt and raised my score over 100 points. To have all that undone by one missed payment really hurts. :smileysad:

 

Just wondering if there's anything I can do about it and/or if anyone knows how long it might take to get my score back up. Thanks a bunch!

 


Unfortunately, this is pretty standard.  While the actual drop may vary by each individuals' credit file depending on they type of adverse action (e.g. late payment reporting, collection items, etc.) the score will dramatically suffer as a result.  As the lender was not at fault with reporting accurate information, the only method to improve it is by rebuilding a good payment history.  There is no magic formula to determine specifically when the score will return before the drop, only time can be your best guidance.

 

Some folks may chime some suggestions and/or offer a goodwill letter to the lender to "possibly" remove the derogatory item; however, since the adverse action was not caused by the lender (i.e. factual reporting), this may prove futile.

Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
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Re: 1 missed payment crashed my score!...is this normal?


YoungCreditLady wrote:

I recently moved and missed a payment on my Kohls card b/c I forgot to change the mailing address and overlooked the email alert. I have NEVER missed a payment on any account EVER.  However, the measly $34 I owed dropped my score 75 points in one shot! Is this normal? Is there anything I can do about it?

 

I have since paid the balance, had the late fee removed and it appears Kohls has put my account back in good standing according to my ScoreWatch account. But no score increase! I'm really bummed because I've spent the last 2 years really working on paying down debt and raised my score over 100 points. To have all that undone by one missed payment really hurts. :smileysad:

 

Just wondering if there's anything I can do about it and/or if anyone knows how long it might take to get my score back up. Thanks a bunch!

 


 


Considering the above info, you might want to call them and plead your case about the mailing mix up. Being you're a good customer and have never been late etc.  They may just remove it if you're nice about it and get the right person.

Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: 1 missed payment crashed my score!...is this normal?

I had a co-worker that had this happened to, and she called.  Short of the long is, they removed the 30 day

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

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Established Contributor
compassion101
Posts: 646
Registered: ‎06-06-2012
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Re: 1 missed payment crashed my score!...is this normal?


RyVision wrote:

YoungCreditLady wrote:

I recently moved and missed a payment on my Kohls card b/c I forgot to change the mailing address and overlooked the email alert. I have NEVER missed a payment on any account EVER.  However, the measly $34 I owed dropped my score 75 points in one shot! Is this normal? Is there anything I can do about it?

 

I have since paid the balance, had the late fee removed and it appears Kohls has put my account back in good standing according to my ScoreWatch account. But no score increase! I'm really bummed because I've spent the last 2 years really working on paying down debt and raised my score over 100 points. To have all that undone by one missed payment really hurts. :smileysad:

 

Just wondering if there's anything I can do about it and/or if anyone knows how long it might take to get my score back up. Thanks a bunch!

 


 


Considering the above info, you might want to call them and plead your case about the mailing mix up. Being you're a good customer and have never been late etc.  They may just remove it if you're nice about it and get the right person.


+1. Keep calling until you get a sympathetic ear. I'd call a few times a week till I find someone who will do what you need done. Your good history is on your side and you should fight for keeping a solid credit rating

 

 

Valued Contributor
Jazzzy
Posts: 2,679
Registered: ‎07-29-2009
0

Re: 1 missed payment crashed my score!...is this normal?

I would call them. Be nice and be honest about your mistake. Take responsibility.

 

I once had a 30-day late removed when I neglected to pay a cc bill for an annual fee. I knew I hadn't charged anything, so I didn't even open the bill. I called them (different company), apologized, told them what happened, talked about what a good customer I had been. They removed the 30-day late.

 

It's worth a phone call.

Frequent Contributor
LisaJ
Posts: 390
Registered: ‎11-06-2008
0

Re: 1 missed payment crashed my score!...is this normal?

[ Edited ]

Yes,  I had a similar incident only mine was for being short on an auto pay by $2.39 (yes; TWO DOLLARS and thirty nine cents!) and my score plummetted. I rweceoved NO alerts, no mail, nothing. It was an obvious error, but Orchard Bank would do nothing for me.  I dropped 72 points and until Capital One took over Orchard (and I cancelled!) no one did anything.  Cap One removed it after some emails, but it was almost a year, and I still am not where I was.

 

I'm sorry.  it sucks when something that you didn't do deliberately causes this kind of issue.  :smileysad:

 

+1 on calling until you get a sympathetic ear.  While it didn't work for me, I'd definitely give it a shot.

WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Member
YoungCreditLady
Posts: 5
Registered: ‎03-02-2010
0

Re: 1 missed payment crashed my score!...is this normal?

Oy! Thanks folks. I will try a phone call. Hopefully I get someone who's got some holiday spirit!


Starting Score: 644 (2/26/10)
Current Score: 755 (7/31/12)
Goal Score: 800


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HiLine
Posts: 3,176
Registered: ‎10-19-2012
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Re: 1 missed payment crashed my score!...is this normal?


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