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Annual Fee caused a late payment...now what?

New Member

Annual Fee caused a late payment...now what?

A credit card that I NEVER use charged an annual fee to my account, which I did not notice, and then a late payment since I did not pay it. I called the bank and closed the card immediately and the waived the fee and late payment amount. I just got an alert from my fico that my score dropped 50 points! Ordered a copy of my credit report and sure enough, they reported me 30 days late. What to do now? I am sure the next time they report it will show a zero balance and a closed account. What about the late payment? Should I dispute this? Just when I was approaching 700, WHACK! 50 POINTS!
Message 1 of 8
7 REPLIES
Regular Contributor

Re: Annual Fee caused a late payment...now what?

I would try to GW it.
Message 2 of 8
Contributor

Re: Annual Fee caused a late payment...now what?

Yes, GW it. Technically they reported it accurately, as much as it sucks. I'd get the contact info for a supv. and humbly appeal to them for help. You certainly didn't deserve it, but that's the caveat of those annual fee cards.
Message 3 of 8
New Member

Re: Annual Fee caused a late payment...now what?

sorry, not familiar with the terminology here. GW?
Message 4 of 8
Regular Contributor

Re: Annual Fee caused a late payment...now what?

Good will letter.  Go to this and hit the GW at the bottom.  There are some examples of letters posted by Tuscani there. 

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

Message 5 of 8
Moderator Emeritus

Re: Annual Fee caused a late payment...now what?

Was the AF not on your bill?
Message 6 of 8
New Member

Re: Annual Fee caused a late payment...now what?

I made the terrible mistake of not opening the bill. 99% of my bills are ebills so when I get the paper bills they go into the shredder. I never used this card so I just assumed a zero balance each month.
Message 7 of 8
Moderator Emeritus

Re: Annual Fee caused a late payment...now what?

Doh!
 
Well, hopefully the GW works. Smiley Happy Good luck!
Message 8 of 8