topic Re: Annual Fee caused a late payment...now what? in General Credit Topics

Annual Fee caused a late payment...now what?

Anonymous — Thu, 21 Jun 2007 21:13:44 GMT

A credit card that I NEVER use charged an annual fee to my account, which I did not notice, and then a late payment since I did not pay it. I called the bank and closed the card immediately and the waived the fee and late payment amount. I just got an alert from my fico that my score dropped 50 points! Ordered a copy of my credit report and sure enough, they reported me 30 days late. What to do now? I am sure the next time they report it will show a zero balance and a closed account. What about the late payment? Should I dispute this? Just when I was approaching 700, WHACK! 50 POINTS!

Re: Annual Fee caused a late payment...now what?

Anonymous — Thu, 21 Jun 2007 21:41:38 GMT

I would try to GW it.

Re: Annual Fee caused a late payment...now what?

Anonymous — Thu, 21 Jun 2007 22:04:24 GMT

Yes, GW it. Technically they reported it accurately, as much as it sucks. I'd get the contact info for a supv. and humbly appeal to them for help. You certainly didn't deserve it, but that's the caveat of those annual fee cards.

Re: Annual Fee caused a late payment...now what?

Anonymous — Thu, 21 Jun 2007 22:06:17 GMT

sorry, not familiar with the terminology here. GW?

Re: Annual Fee caused a late payment...now what?

Anonymous — Thu, 21 Jun 2007 22:28:57 GMT

Good will letter. Go to this and hit the GW at the bottom. There are some examples of letters posted by Tuscani there.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

Re: Annual Fee caused a late payment...now what?

Tuscani — Thu, 21 Jun 2007 23:41:51 GMT

Was the AF not on your bill?

Re: Annual Fee caused a late payment...now what?

Anonymous — Fri, 22 Jun 2007 00:14:18 GMT

I made the terrible mistake of not opening the bill. 99% of my bills are ebills so when I get the paper bills they go into the shredder. I never used this card so I just assumed a zero balance each month.

Re: Annual Fee caused a late payment...now what?

Tuscani — Fri, 22 Jun 2007 00:25:15 GMT

Doh!

Well, hopefully the GW works. Good luck!