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Is my score alright?

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Anonymous
Not applicable

Is my score alright?

I recently got 5 late payments removed from Capital One and I'm trying to ballpark where my score might go once they hit my credit. To do that, I want opinions on how my score is now. I went from around 750s I want to say to about 528 once a 30 day late payment was recorded. That 30 day turned into a 60 day, then I paid the account for a couple months. Then in the new year I missed a payment, that eventually went to 90 days in March. I'm at a 595 right now. I know nobody can tell me what my score will be but now that my payments are removed, shouldn't my credit score go up 200+ points? Or is that even possible? 

 

Message 1 of 6
5 REPLIES 5
takeshi74
Senior Contributor

Re: Is my score alright?

No telling.  You'll just have to wait and see.  Were those the only derogs on your reports?  If you have any left there's a good chance that they will continue to hold your scores down.

 

Given the impact of derogs make sure you're doing whatever you need to do to avoid them in future.  Use autopay if you find it useful.

Message 2 of 6
CH-7-Mission-Accomplished
Valued Contributor

Re: Is my score alright?

I don't know what your score effect will be.  Can I ask a question?  How did you go about getting the lates removed, when did they occur, and what was the reason they agreed to remove them?

 

Just curious.  They can be a tough nut to crack and you did what I thought was almost impossible with them.

Message 3 of 6
Thomas_Thumb
Senior Contributor

Re: Is my score alright?


@Anonymous wrote:

I recently got 5 late payments removed from Capital One and I'm trying to ballpark where my score might go once they hit my credit. To do that, I want opinions on how my score is now. I went from around 750s I want to say to about 528 once a 30 day late payment was recorded. That 30 day turned into a 60 day, then I paid the account for a couple months. Then in the new year I missed a payment, that eventually went to 90 days in March. I'm at a 595 right now. I know nobody can tell me what my score will be but now that my payments are removed, shouldn't my credit score go up 200+ points? Or is that even possible? 

 


Really, what happens to your score is inconsequential if you don't have a system in place to avoid late payments in the future. 

 

Not really sure what the impact on score will be particularly if your file will still show lates after these 5 are removed. Regardless, I don't see a 200 point bump as possible. Looks like you already recovered about 60 points. Maybe you can gain another 80 to 120 points if the removal takes care of your remaining lates. That's just a guess. Time will tell. Let us know how it turns out.

 

As mentioned previously, take a look at automated payment plan options to at least cover minimum amount due. That can mitigate future lates from getting on your file. You can always make a 2nd manual payment each month to PIF and avoid recurring interest charges.

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Message 4 of 6
Anonymous
Not applicable

Re: Is my score alright?

Yes, those were my only derogs on my credit report. The rest of my payment history is flawless. As for their reason for removing them, I think it was purely out of goodwill. I'm active duty military and was in an intense training pipeline where I spent 18 hours inside a secure building without contact to the outside world. I wasn't receiving statements in a timely manner. What had happened was I had autopay set up from my main debit account. Due to fraud, that account was closed and I was assigned a new account. It didn't register to me that I had to go update my autopay. 5 missed payments later, I found myself having to rebuild my credit at 21. Lesson learned. Autopay isn't necessarily automatic. I intend to watch my accounts like a hawk. 

Message 5 of 6
Anonymous
Not applicable

Re: Is my score alright?


@Anonymous wrote:

Yes, those were my only derogs on my credit report. The rest of my payment history is flawless. As for their reason for removing them, I think it was purely out of goodwill. I'm active duty military and was in an intense training pipeline where I spent 18 hours inside a secure building without contact to the outside world. I wasn't receiving statements in a timely manner. What had happened was I had autopay set up from my main debit account. Due to fraud, that account was closed and I was assigned a new account. It didn't register to me that I had to go update my autopay. 5 missed payments later, I found myself having to rebuild my credit at 21. Lesson learned. Autopay isn't necessarily automatic. I intend to watch my accounts like a hawk. 


When the last negative was removed from my Experian report my score skyrocketed 89 points from one day to the next.

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