Disappointed with 57 point drop

[Anonymous]

I started making changes to my lifestyle in 1/08, and started improving my credit profile. I closed multiple accounts, if they weren't already closed, and focused on having the few cards that I needed for emergencies. My score has slowly increased from under 500 to a high of 627 in March, and then just stopped going up. I got an alert today telling me my score dropped 57 points for no apparant reason.

I've had no lates, no baddies, no nothing in the past 18 months so I'm not sure what happened. I was afraid something was going to happen since the uptrend started leveling off. At least I got my house refinanced at a lower rate in February while my score was still good. I hope this is just a rebucketing thing because my report shows no reason why I should drop like that.

Just venting.....

Kerry 

[Anonymous]

I started searching my online accounts, and I found the culprit. Chyrsler Financial had hit me with a 30 day late charge that was inaccurate. My online records show the payment was accepted 1 day before 30 days late, so apparantly the system hit me anyway. After spending almost an hour on the phone, they are going to remove it and correct the error at the CRA's. I also asked for a letter to put in my file in case it doesn't fall off in the 7-10 days when it's supposed to according to them.

Kerry

[haulingthescoreup]

You posted just as I was about to reply that this sounded like a 30-day late.

Good for you for hunting this down! An excellent example of the virtues of keeping good records.

And as I'm sure you're aware, whatever you can do to get on top of things so that you're not down to the wire for payment deadlines will help you sleep better at night.