WHY is it scores go DOWN faster than UP??????!

[Anonymous]

I'm so frustrated!  After working so hard for years to repair my credit and get my scores all up into the 680 to 700 range, I've fallin on hard times and recently missed ONE payment on my credit card and my balances have increased.  I understand my score falling BUT 150 points in ONE MONTH!!!  It took years to get it up and it's all gone again!!  What is the point?????????????  PLEASE, if anyone has any suggestions etc... HELP!

[My_dog_FICO]

Blue - catch up your missed payment ASAP.  Call your cc and beg/plead/cry about how you're working so hard and you would give your first born if they would help you get that late taken off your credit reports.

second - get those cards down under 10% util.  Not only will your FICO shoot up, but it would help prevent those 'hard times' from being so hard.

then, set up an account that you can auto-pay all of your cc bills with and schedule the minimum payments to go out a week before the due date.  You should be able to figure out the monthly outflow and stock that account each paycheck, before you pay anything else.

Be responsible and you'll get back to the 700's in time.  Remember 30 day lates hit hard, but fade fast.  60 and 90's hit harder and sting much longer.

[Anonymous]

Hi Blue, and welcome to the forum!

There is a wealth of information here with knowledgeable people here to assist with your questions.

High scores take so much effort to get, but so so easy to crush.

I have to agree, with other poster. Talk to ccc in earnest. Write a GW letter(GoodWill).Examples can be found here.

[Ausfarm]

I had one 30 day late that I disputed and my score shot up something like 79 points.  So, it does go up.  Definitely catch-up and ask them to remove the late payment.

Message Edited by Ausfarm on 11-27-2007 01:13 PM

[Anonymous]

Good luck with the GW.  If you have impeccable payment history, you shouldn't have a problem.  If you encounter any difficult getting resolution.  Escalate!