Got a 30 day late removed and score shot up!

[TXempress]

I posted last week on the motgage board asking if I would be able to raise my mid score to 620 in order to get an FHA mortgage. I don't plan to apply for a few more months so someone suggested I try a GW letter to get the single 30 day late removed from my report.

As of last weekend my FICO scores are TU-617 EQ-576 (FAKO EX 676).

I searched online for someone to address my GW letter to at HSBC and finally found an email address. I sent off an email last Saturday night to HSBC and got a responseon Suday night that it would be forwarded to the right person and looked into.

I got a call on Monday  and further explained the circumstances of the 30 day late (bank changing procedures without me realising) the lady I spoke to said that she would look into it further and get back to me tomorrow with a decision. When she called the following day she said that she reviewed my account and because of my previous payment history and because my other account with them was in good standing she was able to remove the 30 day late notification.

She said it would take up to 90 days to be reflected on my credit reports but I just checked and my scores have shot up!

My FICO scores are now TU-670 EQ-686 (FAKO EX 689) now I just have to pay down my credit utilization from 87% and I think I might be able to get to 700! Woohoo!

Thanks to these boards I should be able to get an FHA loan with no problem!

Message Edited by TXempress on 02-20-2010 12:28 PM

[MarineVietVet]

Congratulations!!!  Your hard work paid off. Many people are afraid to even ask for a deletion but all the creditor can do is say no.

Way to go!

[Anonymous]

I think you will be pleasantly suprised at how much your scores will increase once you get your util down below

10%.  I had a HUGE score increase.

[TXempress]

Thanks!

Now I am excited to see the changes as I pay down my balances. I plan to throw my entire tax return plus a hefty sum every month at my balances and I should be down to 50% by June and below 10% by the end of summer

[marty56]

Take your util to 9% on a single card and your scores should be well into the 700's.

[TXempress]

Really Marty? Should I do it on a card that has a higher credit limit, or one with a lower credit limit or doesn't it matter?

[MarineVietVet]

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@TXempress wrote:
Really Marty? Should I do it on a card that has a higher credit limit, or one with a lower credit limit or doesn't it matter?

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The amount of CL doesn't matter as long as the utilization is under 10%. Also I believe he was saying to have only one of your cards report that 9% utilization and any others always report a zero balance each month.

I hope I didn't step on your reply marty.

If I misstated your intent please correct me.

[TXempress]

Oh Gotcha that makes sense. Thanks for clarifying Marinevietvet!

[Jazzzy]

Congratulations!

I know how it feels to ask for a goodwill change or deletion. It's humbling, but it's a way to take ownership of what's on your reports...and to take ownership for changing it. And it feels sooooooooo good when they say yes!

Good work.

[TXempress]

Thanks Lynette!

When I first asked for it to be removed- when the mix up first happened I was told it couldn't be done. This time I wrote a letter and was calm as opposed to the angry accusatory tone I had previously used and ta-da! I gues you really do catch more flies with honey