My credit score got dinged quite a bit (from 739 to 612) due to my credit union reporting that my credit account was 30-60 days late in January. It was an oversight on my part, as I thought I had already made a payment and just forgot to check. I had been transitioning from self employment to a traditional job and even though I struggled paying bills for a few months because of slow and inconsistant business, I managed to at least get minimums paid. Before this, my credit with all 3 bureaus had been spotless, so i'm kicking myself about this. Now that I am at a stable job, I have paid off that account in full.
I still have 3 credit cards, and while I do have balances on all of them, I am actively working to pay them off. None of them were maxed, but it's going to take a few paychecks to whittle everything down. Due to my credit score taking a hit, my line of credit for all of them has been lowered, which is frustrating because now my debt to credit ratio sucks! I do not plan on using my cards until I can get them paid off. If my credit union removes the lateness, and my score goes back up, will the credit card companies increase my credit line again, or do I have to wait a period of time so they can see that i'm continuing to make payments on time?
I am going to write a goodwill letter/email to my credit union and hope that they remove the black mark on my report. Is there anything else I can do to at this point?
