HELP!!! My Credit Score dropped over 80 points!!!

[Anonymous]

I recently had a problem with my bank, PNC and the credit card that was issued to me. I have had the account since 2001 and the account has always been in perfect health with use and payment history. I recently applied for a home loan pre-authorization. When I received my credit report my credit score was at 797. I recently had paid off the credit card to reduce my debt to income ratio. The auto pay on the card was then switched off when the card was at $0.00 balance. I then used the card again for some purchases but the auto pay was not enabled. The card went over 30 days unpaid with a balance of around $1000. By the time I logged into my online banking and noticed that the payment was overdue, I freaked out and paid off the balance instantly. As soon as the balance was paid off the account was closed. I have called the bank and tried to fight this. I was told that I could not be contacted and the computer automatically closed the account. I was on paperless billing and the phone number in their systems was an old number. I am in the market to shop for home loans but I am worried about this huge hit to my credit. Please help what can I do???

Since I travel for business I cannot be without a credit card. I had to open a new account. This further dropped my score a few points. I went from 797 down to 716. I lost an account with 14 years of excellent payment history, my credit report shows a 30 day late on payment. I also lost 14 years of saved points that I was hoping to cash in on a vacation. I feel like I was totally screwed by a computer. I was not contacted even by mail and I do not know what to do. I worked very hard to get my credit score where it was and I feel that PNC Bank has failed me. I am also worried that it will take many years to get back to the point I was. Please help!!!!

[taxi818]

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@Anonymous wrote:

I recently had a problem with my bank, PNC and the credit card that was issued to me. I have had the account since 2001 and the account has always been in perfect health with use and payment history. I recently applied for a home loan pre-authorization. When I received my credit report my credit score was at 797. I recently had paid off the credit card to reduce my debt to income ratio. The auto pay on the card was then switched off when the card was at $0.00 balance. I then used the card again for some purchases but the auto pay was not enabled. The card went over 30 days unpaid with a balance of around $1000. By the time I logged into my online banking and noticed that the payment was overdue, I freaked out and paid off the balance instantly. As soon as the balance was paid off the account was closed. I have called the bank and tried to fight this. I was told that I could not be contacted and the computer automatically closed the account. I was on paperless billing and the phone number in their systems was an old number. I am in the market to shop for home loans but I am worried about this huge hit to my credit. Please help what can I do???

Since I travel for business I cannot be without a credit card. I had to open a new account. This further dropped my score a few points. I went from 797 down to 716. I lost an account with 14 years of excellent payment history, my credit report shows a 30 day late on payment. I also lost 14 years of saved points that I was hoping to cash in on a vacation. I feel like I was totally screwed by a computer. I was not contacted even by mail and I do not know what to do. I worked very hard to get my credit score where it was and I feel that PNC Bank has failed me. I am also worried that it will take many years to get back to the point I was. Please help!!!!

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Sorry op. What a bummer. I can't say the computer screwed you as you did not gave a number to be reached at. Even though it's your own fault I do sympathize with your situation. All you can do at this point is write the credit department of Pnc explain the situation. With a copy of your 14 year history. He'll take a copy to a branch manager and e.plain. And ask for forgiveness. Since you don't owe anything. They have no incentive. Other than to Kerouac good customer. He'll contact the CEO if you have to

[Anonymous]

Man, that sucks.

[SunriseEarth]

I found this number in the Backdoors Thread:   PNC: 800-762-0974 (Credit Dept.)    I don't have any experience with them, but it's worth a try.  

Even so, the affect of the 30 day late will fade over time.   I'm guessing the loss of UTIL affected you quite strongly.   Are you able to get any SP CLIs on other accounts?

[Lemmus]

...you need to be more aggressive with PNC ...start with your local branch manager, in person, and move up the chain until you get a satisfactory response ...dealing with flunky's over the phone rarely gets you what you need, they just don't have the authority or knowledge ...its a very simple Good Will issue ...you made a one-time mistake and your record clearly demonstrates it as such ...if they want to retain your business, they will fix the problem ...skip over to the Credit Repair forum where you will find a lot more specific advice on addressing your problem.

...a single paid 30 day late is not a disaster even if you can't get PNC to remove it ...your scores will recover and the current ones will still get you good rates ...your explanation of the 30 day late will satisfy any underwriter.

...the other thing you might consider is to use your bank/cu's bill pay system to protect yourself against such things in the future ...I can't speak to others but Bank of America's on-line bill pay system allows me to register every bill I have, including all CCs, receive my bills through them, and e-mail me every time a new bill is received and 5 days before it is due ...and of course I can set it to auto-pay if I want ...and freely transfer funds on-line between all my accounts there as needed ...for anyone who travels a lot, its ideal and the sole reason I still bank with them ...hth

[taxi818]

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@Lemmus wrote:

...you need to be more aggressive with PNC ...start with your local branch manager, in person, and move up the chain until you get a satisfactory response ...dealing with flunky's over the phone rarely gets you what you need, they just don't have the authority or knowledge ...its a very simple Good Will issue ...you made a one-time mistake and your record clearly demonstrates it as such ...if they want to retain your business, they will fix the problem ...skip over to the Credit Repair forum where you will find a lot more specific advice on addressing your problem.

...a single paid 30 day late is not a disaster even if you can't get PNC to remove it ...your scores will recover and the current ones will still get you good rates ...your explanation of the 30 day late will satisfy any underwriter.

...the other thing you might consider is to use your bank/cu's bill pay system to protect yourself against such things in the future ...I can't speak to others but Bank of America's on-line bill pay system allows me to register every bill I have, including all CCs, receive my bills through them, and e-mail me every time a new bill is received and 5 days before it is due ...and of course I can set it to auto-pay if I want ...and freely transfer funds on-line between all my accounts there as needed ...for anyone who travels a lot, its ideal and the sole reason I still bank with them ...hth

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Yes. Well said. I said   Go to manager. Bring records. They will hear you out. Just don't take no as answer. 

[MarineVietVet]

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@Lemmus wrote:

...you need to be more aggressive with PNC ...start with your local branch manager, in person, and move up the chain until you get a satisfactory response ...dealing with flunky's over the phone rarely gets you what you need, they just don't have the authority or knowledge ...its a very simple Good Will issue ...you made a one-time mistake and your record clearly demonstrates it as such ...if they want to retain your business, they will fix the problem ...skip over to the Credit Repair forum where you will find a lot more specific advice on addressing your problem.

...a single paid 30 day late is not a disaster even if you can't get PNC to remove it ...your scores will recover and the current ones will still get you good rates ...your explanation of the 30 day late will satisfy any underwriter.

...the other thing you might consider is to use your bank/cu's bill pay system to protect yourself against such things in the future ...I can't speak to others but Bank of America's on-line bill pay system allows me to register every bill I have, including all CCs, receive my bills through them, and e-mail me every time a new bill is received and 5 days before it is due ...and of course I can set it to auto-pay if I want ...and freely transfer funds on-line between all my accounts there as needed ...for anyone who travels a lot, its ideal and the sole reason I still bank with them ...hth

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I agree. It's serious but recovery from the damage happens pretty fast if no other negatives report.

[Anonymous]

Many thanks for the advice!!!! Today I did go into the branch and met with a representative. They made a few phone calls and finally managed to get someone that knew what they were doing. What was found out is that part of the reason the account was closed was due to the Home Depot information leak. The account was scheduled to be transfered to a new card and number, but when the account was paid off in full the computer systems closed and locked the account. The case was escelated again to a higher level for further review. I also made a transition to a Virtual Wallet that provides me with e-mailed information so avoid this ever happening again. Thank you for that tip!!!! I will provide an update when more information is available. They still have not located my reward points balance due to it being tied with National City Bank which was bought by PNC..Baby Steps for now.