macys GW

[llecs]

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@dekelley1 wrote:

I'm so screwed righ now, I just got to a 650, then I got hit with the 30day late and lost 50pts!!  I called and they wouldn't budge for me either so I don't know what to do.  I will pay the account all the way down, then give it 6mo's and try again.  I need those 50pts back!!

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I'd keep calling. I called them about a week ago fighting with them as I was trying to PIF one of my two accounts with them and had a tough time doing so. When talking to them, I was uber-friendly, but I noticed they seemed frantic, manic, or perturbed, for lack of a better word. As you may know, they stopped reporting CL and they changed the rules on PIF lower interest TLs. I think the stress was getting to them. In the past they were awesome to deal with and now they seemed quite haggered. What I'm saying is that maybe now's not a good time (though certainly keep calling), but as this mellows out over the next many weeks, then they might be in more of a mood to spread some goodwill cheer. Of course keep writing too.

[dekelley1]

So I have good and bad news.  Previously I told you guys I missed my Macys payment and they reported dropping me 50pts!!  Well the good news I asked over the phone once and they said no, I figured they would.  I thought I would wait 6mo. and try again.  However I just got an updated on my credit report and they removed the late payment.  

Now for the bad/confusing news:

I only got 8pts back WTH!  nothing else has changed on my credit, can someone help me understand why I only got 8pts back?  This is so unfair!!

[llecs]

Congrats on the GW success! Sorry about the drop.

Where did you get your score from? It's been 3 weeks or more. Did anything else happened between reports like increased or added balances, added baddies, date changes or status changes, etc. ? Also, could anything else have coincided to produce the org. 50 point drop in addition to the Macys late?

[dekelley1]

The only other thing was a $30 balance increase that happened after the late payment.  But that doesn't account for 32pts.  

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@llecs wrote:

Congrats on the GW success! Sorry about the drop.

Where did you get your score from? It's been 3 weeks or more. Did anything else happened between reports like increased or added balances, added baddies, date changes or status changes, etc. ? Also, could anything else have coincided to produce the org. 50 point drop in addition to the Macys late?

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[llecs]

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@dekelley1 wrote:

The only other thing was a $30 balance increase that happened after the late payment.  But that doesn't account for 32pts.  

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No, it wouldn't because Macys stopped reporting CLs and I've been told that FICO excludes the balance and CL from scoring because of that. However, if your util increased as a result of the missing Macys CL, then you could have seen a decrease. My overall util spiked from 55%, give to take, to over 85% overnight because I lost about $7500 in available credit between Macys and Bloomies, and caused my score to plummet. Bums. That happened in May though.

[dekelley1]

If it's try that they no longer report CL's then why am I still getting updates on my CR from them? 

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@llecs wrote:

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@dekelley1 wrote:

The only other thing was a $30 balance increase that happened after the late payment.  But that doesn't account for 32pts.  

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No, it wouldn't because Macys stopped reporting CLs and I've been told that FICO excludes the balance and CL from scoring because of that. However, if your util increased as a result of the missing Macys CL, then you could have seen a decrease. My overall util spiked from 55%, give to take, to over 85% overnight because I lost about $7500 in available credit between Macys and Bloomies, and caused my score to plummet. Bums. That happened in May though.

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[llecs]

They still update monthly with a balance change, if it changes, but the balance and CL are removed from scoring (in fact, you can't see the CL on your reports). The history still plays into your score, payment history, etc.

[dekelley1]

Why would they do something like that!! this is pissing me off.  All these creditors play with your credit score as if it doesn't matter.  Then when you call them on it, they act as if the world doesn't revolve around credit!!

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@llecs wrote:

They still update monthly with a balance change, if it changes, but the balance and CL are removed from scoring (in fact, you can't see the CL on your reports). The history still plays into your score, payment history, etc.

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[llecs]

On the flip side, you can max out your card and not have to worry about the score ramifications of its reporting, only the interest.

I was upset too. But it was a stark reminder that my balances on my other CCs were too high and I was using DSNB-backed TLs to prop up my utilization. I shouldn't have done that and it taught me a big lesson. Macys and Bloomies won't see a dime of my money again or until they change it. But I'm using this opportunity to do some massive revolving debt paydown.