01-10-2013 10:29 PM
ok, here is the story. i missed a credit card payment on my bankofamerica card it was 60 days late and they reported it with no warning to my credit agency. how long will it take for me to rebuild my credit, wow this pissed me off, one bad report and all of the sudden my rate is through the roof.
01-11-2013 07:53 AM
Damage from a 60-day lay will last for the 7 years, but the damage fades rather quickly, relatively speaking. Once it goes from "currently 60 days past due" or whatever the notation is to "was 60 days past due", then much of those points will return, and the remainder will gradually return over time. Try sending them a GW.
01-12-2013 06:03 AM
+1 GW is the way to go. 30 and 60 day lates are still minor derogs, so the impact will fade faster.
01-15-2013 08:55 PM
BoA (FIA) can be pretty brutal. If it's never happened before, and the reason makes sense to whoever hears it, maybe you'll get some love.
01-19-2013 11:52 AM
The CARD Act requires them to review after 6 months although that doesn't guarantee getting back to your prior rate. And fortunately your other lenders can no longer use "universal default" to raise your other rates.
If they won't budge noew, check again in six months with a perfect payment record. In one year ask them to "re-age" the line, that means set it to all ontime so only future lates will hurt you.
Remember, if youy pay down the balance on this card you save the high interest.
01-26-2013 08:39 AM
You are unlikely to get any GW from BofA but I agree to pay their card down ASAP and then either sock drawer it our use it once in awhile to buy a pack of gum.
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.