Credit Card Center Advertiser Disclosure†
03-12-2017 07:54 PM - edited 03-12-2017 07:55 PM
Has anyone ever had any success with Bank of America in getting a late payment removed from a credit report? I missed a payment on my BOA credit card during the terminal illness and death of my grandfather, who I was taking care of while he was under hospice dying of liver failure. I had completely forgotten to pay the card and it just got lost during all the turmoil. I've had the card for 15 years and never missed a payment, have a FICO of 795, and have over $200,000 of assets with BOA. From my understanding, this payment will drop my FICO 100 points once it shows up on my credit report.
I called them Friday and the CSR told me there was nothing they could do now that it was reported, and just said she'd remove the late fee since I was dealing with a "hard time" even though it had nothing to do with not being able to pay the card.
I am considering writing a good will adjustment letter, but I don't know where to send it, to see if they'll adjust given my history and relationship with the bank. Does that ever work?
03-13-2017 06:10 AM - edited 03-13-2017 06:11 AM
Sorry to hear about your grandfather.. But these are the situations where goodwill letters definitely work. I have sent and had success with goodwill letters for Capital One, Citibank and a few others. The mistake people often make is sending them to the general Customer Service department at the bank via USPS/CMRRR. In my opinion this is a waste of time. Go straight to the top-- Google "Bank of America CEO email" and you should be able to find the CEO's email.
Write up a message explaining your situation and use your existing membership as leverage and send it to the CEO via email. It will probably get filtered by someone in the Executive Office, but these are the people who can help you. It typically will bypass the basic Customer Service level that will deny 99.9% of goodwills instantly. Emails will be faster in terms of response and I feel they have a higher success rate with goodwills than basic USPS letters.
If they see this was an obvious temporary hardship and that they have a lot to lose by losing you as a customer, they may be able to work with you.
Be sure to mention what Bank of America has done for you and that you're appreciative, etc etc.. It seems like-- from what I've read on these forums-- goodwills work better when you talk up the bank a bit while saying what your relationship means.
03-13-2017 07:33 AM
Thank you. I did read that emailing the CEO's email will be better. The CSR did nothing for me except waive the fees, which obviously I care little about as it wasn't about my ability to pay - it was due to the death which she didn't seem to understand.
I'll write something and email it to see if I get a response. I also own about 6,000 shares of BOA stock, so I'll be sure to mention that as well. We'll see if this works!
03-15-2017 06:24 AM
Thats great turnaround time and should show you that they do in fact value you as a customer- Always nice when the big companies let you know you matter!!
03-15-2017 06:57 AM
Nice, every time I have had a successful GW I have received a call from the Executive Office (a) asking for identify confirmation, and (b) asking for clarification on my issue. I think they want to make sure it was YOU who submitted the goodwill request since a lot of times credit repair companies will fake goodwill stories to try and get removals.. Just make sure they know you are valued and have a lot invested in BofA. I'm pretty sure if that if their brains are correctly attached to their heads, they will help you out given that you do have good business with BofA.
Best of luck
03-20-2017 11:22 AM
Spoke with a rep today and she basically said I was out of luck, and if something worse happened to just let her know. She said the "panel" she took it in front of deemed the hardship wasn't bad enough. The late payment is showing up on my TU score, but my credit actually went up? Which doesn't make any sense (went up 4 points to 783).
Either way, I am now considering moving my assets out of B of A if they don't really value any sort of relationship I have with them.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.