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My FICO dropped 100 points for an accidental charge on my PayPal credit.

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New Visitor

My FICO dropped 100 points for an accidental charge on my PayPal credit.

Hello,
I mistakenly used my paypal credit to make a $15.00 purchase and didn’t realize I had a balance. About 70 days later, I notice my credit score dropped about 100 points. I paid the balance but is there anyway to get this removed from my credit? I typically have all my credit cards on autopay just to ensure this doesn’t happen but i never use this credit and made an honest mistake. Any info to get this removed would be so helpful. Thank you in advance for any feedback.
8 REPLIES 8
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Moderator

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Hello @Withrow505 and welcome to the forums.

 

So, it sounds like your payment was past due for ~60 days?  My understanding is that usually notifications are sent to an individual's inbox and/or text alerts whenever any balance or minimum payment is due.  Although, there have been mixed outcomes when dealing sith SYNCB in removing late payments, but you can always try and see if any GW letters would work.

Message 2 of 9
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Established Contributor

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Unfortunately an "honest mistake" won't always be considered by a creditor.  They are not your friend willing to take that into account, regardless of your payment history.  Most lenders don't care about your history once you're late and an honest mistake can hurt you for 7 years. If you find one that easily removes it let us know. 

 

Usually the best you can do is plead you case and often numerous times. There's the goodwill (GW) campaign that most say will usually take numerous pleads to get removed (if removed) and you have to be diligent and deliberate in your efforts but the forum shows its been successful for many.  Search "Goodwill" and you may find your creditor with specific contact information or the best way that will help your efforts.  Good luck!

FICO - 8: 11/19/20 AU 8 BC 8
FICO - 9: 11/19/20 AU 9 BC 9
F5,F4,F2 11/19/20 AU... BC...
Vantage 11/19/20
As of 11/19/20:
AoOA - 24Y8M | AoYA – 0Y0M | AAoA – 11Y6M
Open: 11 CC: (1 reporting 3.53% : 0.74% AGG UTL) | 1 PLOC | 1 MTG loan: 73.16% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 0/24 | (EX) 1/24
Message 3 of 9
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New Visitor

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Thank you for your response. Yes, i use PayPal often so i don’t read every email sent but i guess i should have. What’s a GW letter?
Message 4 of 9
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Moderator

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Here are some examples of GW letters. If you chose to go this route, make sure you make it personal and dont stop at first 5 rejections

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-St...
A proof Chase hates me....Pre-approved Subaru.
Message 5 of 9
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Valued Member

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

GW= Goodwill

Message 6 of 9
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New Visitor

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Thank you for the information.
Message 7 of 9
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New Visitor

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Appreciate it
Message 8 of 9
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New Visitor

Re: My FICO dropped 100 points for an accidental charge on my PayPal credit.

Thank you
Message 9 of 9
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