Paying Down Debt-dropped credit score dramatically

[Anonymous]

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@marty56 wrote:

When you can control how much debt is reported on your CR, you have won the FICO score game.  never trade debt for a higher FICO score.

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With the 2 current gaming techniques of AZEO and the SSL, there is no reason at all that anyone would have to trade debt for a higher FICO score.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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I am disputing the fact that I was not late and that late payment dropeed my score from 749 to 708 which lowered my ranking.  I need it removed to get my score back.  Curious, what do you mean overused?

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By overused, I mean people often initiate disputes when things can usually be solved easier and quicker by contacting the creditor directly.  If indeed they were in the wrong, they're usually very quick to take responsibility and remedy any inaccurate reporting.  Disputes IMO should be used for this situation after trying to work with the creditor of they are unwilling for whatever reason to make the correction to what is accurate.

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Ok, thank you.  I have contacted the creditor and they said they will dispute it internally.  They told me to "wait".  

[NRB525]

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@Anonymous wrote:

OK...

Best Buy-1500.00 Paid left balance of $50

Nordstrom-800.00 Paid Off

Ulta- 534.00 Paid Off

Victoria's Secret- 120.00 Paid Off

Target Red Card- 500.00 Paid $450.00

Fry's USBank- 1900.00 Paid 1400.00

BOA- 1425.60 Paid 1200.00

As far as the late payment, the initial statement showed a payment in June, I never got a bill but did receive a text notification in July, piad the total amount of $59 (annual fee) one day late.  By then they added a late fee (I was not aware).  This was on August bill, I guess.  I got a notification that I was late in September, by then they had added another late payment because I had not known about the August late payment, so I paid those fees one day after the due date.  4 days later they reported in to the agencies.  Mind you I never use these cards, which is why I had signed up for text alerts so I would know when the annual fees came due.

Does that help?

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OP, you have a real 30-day late in here. 

If you are waiting for a text to tell you an amount is due, and not logging on the the card website to review the entire sequence of billings, you are missing key items. Those late fees are likely the timing thing that puts you 30 days late. 

Sorry this happened, but checking actual statements regularly is part of credit management. 

I doubt the the paydown is causing the score change, but rather the late payment appearing was not in one step.

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:

OK...

Best Buy-1500.00 Paid left balance of $50

Nordstrom-800.00 Paid Off

Ulta- 534.00 Paid Off

Victoria's Secret- 120.00 Paid Off

Target Red Card- 500.00 Paid $450.00

Fry's USBank- 1900.00 Paid 1400.00

BOA- 1425.60 Paid 1200.00

As far as the late payment, the initial statement showed a payment in June, I never got a bill but did receive a text notification in July, piad the total amount of $59 (annual fee) one day late.  By then they added a late fee (I was not aware).  This was on August bill, I guess.  I got a notification that I was late in September, by then they had added another late payment because I had not known about the August late payment, so I paid those fees one day after the due date.  4 days later they reported in to the agencies.  Mind you I never use these cards, which is why I had signed up for text alerts so I would know when the annual fees came due.

Does that help?

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OP, you have a real 30-day late in here. 

If you are waiting for a text to tell you an amount is due, and not logging on the the card website to review the entire sequence of billings, you are missing key items. Those late fees are likely the timing thing that puts you 30 days late. 

Sorry this happened, but checking actual statements regularly is part of credit management. 

I doubt the the paydown is causing the score change, but rather the late payment appearing was not in one step.

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Thank you for your response.  I typically do not check the account because it is not used and I do rely on those notifications whether they are by email or text.  Once I paid the bill, I did think it had been taken care of.  That is why I did not continuously check, obviously my bad.  However; the credit card customer service even said that it should not have been shown as late at all and that they are process of dual investigation with me.

Thank you,

[Anonymous]

I bet $2 that customer service is lying to you but that they will remove the late. Keep pushing. Push hard. Call EO and email CEO if they refuse.

Sign up at Mint.com for free and add all your accounts. You not being notified doesn't relieve you of responsibility for that late fee or note. Mint.com will tell you what you owe and by when.

Set up autopay on every account immediately for the minimum.due.

[Anonymous]

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@Anonymous wrote:
I bet $2 that customer service is lying to you but that they will remove the late. Keep pushing. Push hard. Call EO and email CEO if they refuse.

Sign up at Mint.com for free and add all your accounts. You not being notified doesn't relieve you of responsibility for that late fee or note. Mint.com will tell you what you owe and by when.

Set up autopay on every account immediately for the minimum.due.

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What is EO?  HOw do I call them?  Thank you!

[Anonymous]

EO = Executive Office

Go to the backdoor number post to look up various phone numbers for various entities.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

[Anonymous]

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@Anonymous wrote:

EO = Executive Office

Go to the backdoor number post to look up various phone numbers for various entities.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Backdoor-Numbers/td-p/408066

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Thank you!