Literally ONE late payment

[Anonymous]

Hopefully it won't report as a 30 day late at all on OP's reports.

However, I have used the score simulator and have entered in the scenario to see what would happen if I was 30 days late on one account and they projected a score drop range as high as 120 points!

Look:

Miss a Payment On a Current Account

Your current FICO® Score is 763

Your simulated FICO® score would be in the following range:

643 - 693

---

jaybird201 wrote:

---

athensguy wrote:
Was it 30 days late? If it was less than that, it may not show up on your credit report. If it does, you should expect a substantial drop, probably to below 700.

---

I don't know about THAT big of a drop. You can be sure it will go down though, that is if it's reported.

I would recommend calling and asking to speak to a supervisor and explain to them everything you just explained to us. ESPECIALLY the fact that you have your mortgage and any other accounts with them. The more money they make off of you, the more they want your business.

Also, Chase does make money off of your interchange, so if you run a good amount through your card each month, you're in a better position to ask for leniency. If you don't get it, sit down and write a Good Will letter to them explaining your good performance in the past, why you missed this payment, why it won't happen again. Also be sure to mention that you're a good customer with several accounts at Chase. Then very nicely ask for them to remove the late from your record.

Many people on the forum have had success with Good Will letters. I'd recommend searching for good will letter to see if you can find some posts on people who succeeded in getting a late/CO/etc removed in the past.

Good luck!

---

[haulingthescoreup]

Like I said, it was 50 points for me off of my already-wobbly 640 starting point.

[Anonymous]

I could cry.  This is so unfair.  I have drafted a nice, apologetic letter to the corporate office asking for generosity.  So we shall see.  God has done bigger things.  I don't mind paying the fees.  It's a chance you take when you owe someone and rely on the post office to keep their end of the bargain.  I just hate that it has to affect my credit so drastically.  You don't get a 763 credit rating without being fiscally responsible.  I just wish they would take that into consideration.

[Anonymous]

Follow the advice of the others and speak to a supervisor and plead that they do not report as a late payment. They may not even do so, since it was only 2 weeks late, but I wouldn't just use the wait and see approach.  I would def. be proactive about this. I wish you the best, you are totally right. ONE late payment does not deserve that kind of score ding!

[Anonymous]

I called one more time and spoke with a really nice supervisor (my third).  He said the system literally won't let them change anything on the account.  He said to mail a letter to the Corporate office, which I did today.  And he gave me $10 extra in cash rewards, which is fine with me because I only needed $8 to get a rewards check.  Completely happy?  No.  Happier?  Yes.

[Anonymous]

Oh - he said that they don't report to the agencies unless you are more than 60 days late.  He said that they give you a notice they are going to report and if you are late again then they report you.  He said since I was only 15 days late that it should not show on my credit report.  I certainly hope he's right.  I mean anyone can make a mistake.  I would think they wouldn't want to be so quick to jump the gun on reporting a late payment, especially on an exceptional customer.

Thanks to everyone for your words of wisdom.  I appreciate your help.

[haulingthescoreup]

---

@Anonymous wrote:

Oh - he said that they don't report to the agencies unless you are more than 60 days late. He said that they give you a notice they are going to report and if you are late again then they report you. He said since I was only 15 days late that it should not show on my credit report. I certainly hope he's right. I mean anyone can make a mistake. I would think they wouldn't want to be so quick to jump the gun on reporting a late payment, especially on an exceptional customer.

Thanks to everyone for your words of wisdom. I appreciate your help.

---

Whew, that's great (about not reporting.) They shouldn't, of course, but you'd amazed at how many CCC's would. I hope you get some love from Corporate. It's probably true about the CS level not being able to override the computers. Many CCC's have recently started restricting the abilities of customer service to create a little wiggle room, even for prime customers.

[Anonymous]

Oh that is great news. That would truly have been a tragedy if your awesome scores were tanked due to one mishap.

Message Edited by UpUpUp on 09-17-2008 06:26 PM

[jbh]

Hopefully that is the case. Mucho good luck to you.

[Anonymous]

---

@Anonymous wrote:

Hopefully it won't report as a 30 day late at all on OP's reports.

However, I have used the score simulator and have entered in the scenario to see what would happen if I was 30 days late on one account and they projected a score drop range as high as 120 points!

Look:

Miss a Payment On a Current Account

Your current FICO® Score is 763

Your simulated FICO® score would be in the following range:

643 - 693

---

@Anonymous wrote:

---

@athensguy wrote:
Was it 30 days late? If it was less than that, it may not show up on your credit report. If it does, you should expect a substantial drop, probably to below 700.

---

I don't know about THAT big of a drop. You can be sure it will go down though, that is if it's reported.

I would recommend calling and asking to speak to a supervisor and explain to them everything you just explained to us. ESPECIALLY the fact that you have your mortgage and any other accounts with them. The more money they make off of you, the more they want your business.

Also, Chase does make money off of your interchange, so if you run a good amount through your card each month, you're in a better position to ask for leniency. If you don't get it, sit down and write a Good Will letter to them explaining your good performance in the past, why you missed this payment, why it won't happen again. Also be sure to mention that you're a good customer with several accounts at Chase. Then very nicely ask for them to remove the late from your record.

Many people on the forum have had success with Good Will letters. I'd recommend searching for good will letter to see if you can find some posts on people who succeeded in getting a late/CO/etc removed in the past.

Good luck!

---

---

Holy crap! I thought FICO08 was supposed to make it where one late payment wouldn't hurt people who have generally been responsible with their credit. Remind me never to miss a payment.