Alliant CU New SSL at Full Tumbles Score

[CreditMagic7]

Yes i did. The guy who is almost physically attached to his accounts made a boo boo.

I inadvertantly pushed a payment intended for Alliant CU Shared Savings and instead i used my Bill Pay to finish off my precious SSL

I feel so stupid but i know how it happened.

Thanks to these credit unions massive stretch of assigned numbers + routing number i picked the one that i just used last month to send a small payment to the SSL and didn't catch it until i logged onto my Alliant account and noticed my loan vanished.

I had a sick feeling in my gut and knew right then what was up. I called in to see if i could get them to redirect that payment but it was too late.

They suggested i open a new one again. So i have to go through the whole process once again and start over.

The problem is the TIMETABLE. If i don't get this done before they report in about a week my scores are going to drop like a rock since this was the only IL on my report to satisfy mix.

What a stupid thing to do, but i did it.

[CreditMagic7]

On a more positive note, with this scenario now upcoming this might be the perfect opportunity to MEASURE ACCURATELY exactly what range of a score loss penalty will be from FICO's mix category for my current profile.

I still feel awkward though having pulled such a lame brain boo boo like this.

[SouthJamaica]

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@CreditMagic7 wrote:

On a more positive note, with this scenario now upcoming this might be the perfect opportunity to MEASURE ACCURATELY exactly what range of a score loss penalty will be from FICO's mix category for my current profile.

I still feel awkward though having pulled such a lame brain boo boo like this.

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Now you're talking

[Grafton88]

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@CreditMagic7 wrote:

On a more positive note, with this scenario now upcoming this might be the perfect opportunity to MEASURE ACCURATELY exactly what range of a score loss penalty will be from FICO's mix category for my current profile.

I still feel awkward though having pulled such a lame brain boo boo like this.

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That is keeping a positive attitude.  That data point will be interesting to me as I will have paid off my loan next January.

I will bet if you got a bag of lemons you would make us all some lemonade.

[RobertEG]

The score change may not be much.

Credit mix is not a highly weighted factor, and includes more than just having an installment loan.

The account will still continue to be included in your FICO avg age of accounts.

If only one payment closed it out, then it would likely have been paid within the next few months.

You now have no more interest or payments on the loan.

I would view the glass as now being more than half-full........

[elim]

bummer... my guess is 15 points. not worth stressing over this far into your build.    :]

[NRB525]

Likely not much score impact, but will be interesting to see how much.

On the other hand, this is yet another reason to use the "pull" payment; arrange payment initiated from the account you want to pay, rather than push payments from your checking account to potentially some random destination.

[CreditMagic7]

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@elim wrote:

bummer... my guess is 15 points. not worth stressing over this far into your build.    :]

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I tend to lean with your estimate elim. At the onset of opening the SSL there was another IL (non secured) still existing so no score changes whatsoever took hold at all until the SSL dropped below the 8% mark. That utilization alone was responsible for at least 15-20 points in different measures spread across the 3 CRA.s.

[CreditMagic7]

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@NRB525 wrote:

Likely not much score impact, but will be interesting to see how much.

On the other hand, this is yet another reason to use the "pull" payment; arrange payment initiated from the account you want to pay, rather than push payments from your checking account to potentially some random destination.

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I absolutely adore the "PUSH" method though and have found it to my complete satisfaction and the most effective for my needs.

And although i also manually do a hands on approach (ever changing balances/percentages of use) this is the first time i got in a rush. So motto is DON'T RUSH. LoL

[Anonymous]

So sorry to hear CM.    I know sometimes we can do something and not think about it until...........It's heppened to me but catched it just in time.  I know BOA has no autopay on their site but you can request paperwork to fill out for it.  I always remembered to pay but the holiday & vaca had me messed up & thinking it was the 4th instead of the 5th.  Just made the deadline by about 2 minutes!    Bet you I'm filing those forms out and they'll be in the mail Monday!  On a good note, congrats on all that you've accomplished!  

It will be a little ding that will disappear before you know it.