Damage to score for missed payment?

[Strogen]

Recently I got my parents to sign up for creditkarma in order to see where they stand. They both claim that they had scores 830+ and that when they got a loan a few years ago the banker just couldnt believe how high their scores were. 

I also had my mom check her discover card statement(798). Seems she forgot to pay my dads card one month and her discover card one month. 

Turns out this dinged them like 30 points each. 

I feel thats a bit high, but then again, I have never been in that position.

Do bad things like this hurt you more if you have stellar credit? (800+) And when will they be back to 830+, they are hovering around 800. 

[takeshi74]

Derogs tend to have a major impact regardless of profile which is why the should be avoided at all costs.  It is also why we always recommend that one hit the Rebuilding subforum and address them first when looking to improve one;s credit.  Effect can reduce over time.

---

@Strogen wrote:

And when will they be back to 830+, they are hovering around 800. 

---

No idea other than the derogs will have no impact at all when they are no longer on their reports.  Shouldn't really matter much for them.  Best terms are generally offered at 760+.

---

@Strogen wrote:

I feel thats a bit high, but then again, I have never been in that position. 

---

One's track record is all that a creditor has an indicator of future performance.  Payment History is the biggest slice so it stands to reason that derogs will have a significant impact.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

[Anonymous]

Would not rely on CK scores. Get some FICOs for best comparison.

[takeshi74]

I wouldn't rely on scores at all.  Understand how the data in your reports affect scoring.  Good reports lead to good scores.  Fixating on specific numbers can lead to disappointment and confusion as creditors don't all use the same scoring models or CRA's.  FICO 08 is frequently used for credit card decisions but it is not used by all.

[-Wade-]

---

@Strogen wrote:

Recently I got my parents to sign up for creditkarma in order to see where they stand. They both claim that they had scores 830+ and that when they got a loan a few years ago the banker just couldnt believe how high their scores were. 

I also had my mom check her discover card statement(798). Seems she forgot to pay my dads card one month and her discover card one month. 

Turns out this dinged them like 30 points each. 

I feel thats a bit high, but then again, I have never been in that position.

Do bad things like this hurt you more if you have stellar credit? (800+) And when will they be back to 830+, they are hovering around 800. 

---

You need to tell your mom to set up auto pay the min. payment and they will never have a missed payment.

[Strogen]

---

@-Wade- wrote:

---

@Strogen wrote:

Recently I got my parents to sign up for creditkarma in order to see where they stand. They both claim that they had scores 830+ and that when they got a loan a few years ago the banker just couldnt believe how high their scores were. 

I also had my mom check her discover card statement(798). Seems she forgot to pay my dads card one month and her discover card one month. 

Turns out this dinged them like 30 points each. 

I feel thats a bit high, but then again, I have never been in that position.

Do bad things like this hurt you more if you have stellar credit? (800+) And when will they be back to 830+, they are hovering around 800. 

---

You need to tell your mom to set up auto pay the min. payment and they will never have a missed payment.

---

Thanks for the responses guys, yeah they dont really do online banking. Its mostly just them checking the statement in the mail. 

If they had checked online they wouldnt have any issues. I guess thats what yah get when baby boomers are involved lol. 

[-Wade-]

---

@Strogen wrote:

---

@-Wade- wrote:

---

@Strogen wrote:

Recently I got my parents to sign up for creditkarma in order to see where they stand. They both claim that they had scores 830+ and that when they got a loan a few years ago the banker just couldnt believe how high their scores were. 

I also had my mom check her discover card statement(798). Seems she forgot to pay my dads card one month and her discover card one month. 

Turns out this dinged them like 30 points each. 

I feel thats a bit high, but then again, I have never been in that position.

Do bad things like this hurt you more if you have stellar credit? (800+) And when will they be back to 830+, they are hovering around 800. 

---

You need to tell your mom to set up auto pay the min. payment and they will never have a missed payment.

---

Thanks for the responses guys, yeah they dont really do online banking. Its mostly just them checking the statement in the mail. 

If they had checked online they wouldnt have any issues. I guess thats what yah get when baby boomers are involved lol. 

---

I am sure you can call them and set-up auto payment with a checking account.That is what i would do

[Anonymous]

---

@Anonymous wrote:
Would not rely on CK scores. Get some FICOs for best comparison.

---

This is what I find so frustrating about credit stuff.  It is hard to pin someone down for real numbers.  The bureaus sell us one version of the credit scores, and another version to the lenders.  It's like trying to peek behind the curtain. "Well we're gonna sell you FICO 8, but the mortgage lenders use something called FICO 4, and the auto guys have thieir version, but most CC are FICO 8, but some use something else."  

I recently spoke to my LO, and advised her my score was up 40 pts in 2 months following some good advice by their in house credit coaches.  She said-

"well thats good but what you get on Myfico not gonna be what I pull"

"thats what I hear" LOL

So WTH??

Its kinda like the NFL scouting combines.  Potential draft picks are timed in the 40, a critical area.  You'll have 26 guys with a manually operated watch.  You're talking splits of second, 4.5 is good but 4.3 is top of the line, and can determine if your 1st round or 3rd round.  But no one trusts the other.  Instead of everyone being auto timed, and that info given out to the scouts, they'll do it the old fashioned way, and each team might have a different time on the same guy, and believe their scout's time is the correct one, and the other 25 don't know what they're doing. LOL

[Creditaddict]

---

@Anonymous wrote:

---

@Anonymous wrote:
Would not rely on CK scores. Get some FICOs for best comparison.

---

This is what I find so frustrating about credit stuff.  It is hard to pin someone down for real numbers.  The bureaus sell us one version of the credit scores, and another version to the lenders.  It's like trying to peek behind the curtain. "Well we're gonna sell you FICO 8, but the mortgage lenders use something called FICO 4, and the auto guys have thieir version, but most CC are FICO 8, but some use something else."  

I recently spoke to my LO, and advised her my score was up 40 pts in 2 months following some good advice by their in house credit coaches.  She said-

"well thats good but what you get on Myfico not gonna be what I pull"

"thats what I hear" LOL

So WTH??

Its kinda like the NFL scouting combines.  Potential draft picks are timed in the 40, a critical area.  You'll have 26 guys with a manually operated watch.  You're talking splits of second, 4.5 is good but 4.3 is top of the line, and can determine if your 1st round or 3rd round.  But no one trusts the other.  Instead of everyone being auto timed, and that info given out to the scouts, they'll do it the old fashioned way, and each team might have a different time on the same guy, and believe their scout's time is the correct one, and the other 25 don't know what they're doing. LOL

---

you can thank the bank regulators that run so much of our government for that!