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Fico score dropped 60 points -Desperately Need Advise!

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Anonymous
Not applicable

Re: Fico score dropped 60 points -Desperately Need Advise!

Thanks for everything.  I'm so anxious to see my score go back up.  All things being equal, (keeping everything in order on my part, do you think I will recover all 60 points lost from the late dings?  Just need a little hope.Smiley Happy
Message 11 of 13
Tuscani
Moderator Emeritus

Re: Fico score dropped 60 points -Desperately Need Advise!



curious1 wrote:
Thanks for everything.  I'm so anxious to see my score go back up.  All things being equal, (keeping everything in order on my part, do you think I will recover all 60 points lost from the late dings?  Just need a little hope.Smiley Happy



On one can say for sure. The important thing is it should def increase.
Message 12 of 13
Anonymous
Not applicable

Re: Fico score dropped 60 points -Desperately Need Advise!

Hello,
I would like to give everyone an update on the credit score nightmare I experienced about 4 months ago.  I had the most unfortunate incidence of my credit score dropping by 60 points due to two erroneous missed payments being reported to the creaks by one of my credit card companies.  I contacted capital 1 and  was finally able to find a supervisor that was very helpful in getting the information corrected and reversed all charges incurred due to membership fees hitting my  $0 balance accounts.  I was unaware of the charges and missed the payments.  They also followed up by sending me a letter for my records just in case I needed it for future use.  The CRA stood up to 2 months to show the correction and the credit score only moved up a few points   I constantly visited MFC to see if my score had recovered from the 60 point drop.  673 down to 613. 
 
The next unfortunate thing that happened was shortly after the missed payments were reported, annex closed my account immediately  that was in great standing and never any late payments.  The account had a low balance,  $24 with a $4,000 credit limit)  due to information that was reported about the 2 cap 1 accounts with missed payments.   It was a real battle for me to get Amex to reinstate my account after providing them with the information that the late were an error that had been reversed by cap 1 and updated at the CRA.   It took about 6 week and constantly going up the chain of command to get a reversal on the closed account decision. 
 
The increase  in my credit score was so gradual, I almost became discouraged.  I decided to remain faithful in my mission to increase my score and continued taking actions in that direction.  I continued continued pay down my balances, requested higher credit limits limits my current credit lines, some were granted.   All accounts were paid on time.  I even opened a couple of new acounts accounts with high credit limits.  The highest was $9,000., currently still unused.
 
My score rose to 665 and remained in that range for about a month.  Over the next couple of weeks it would flucuate a few points in that range.  Then about 10 days ago I received a notification that my score was 732 and a few days later it rose to 735.  As of today my EQX  FICO is still 735.  I  requested FICO scores forthe other 2 CRA through Myfico and  the TU is reporting 750 and the Experian is reporting 685.    I feel now that the creidt angles are watching over me and I will continue on the path to a very health credit scroe and healthy credit habits and managements.
 
Thanks for the encouragement, support and great advice from you and other knowledgeable Fico members.
 
Message 13 of 13
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