As you read my blog, you’ll notice that I share useful D.I.Y. (do it yourself) tips on raising your credit scores. These are easy fixes that you should know. And one of them is removing a late payment on your credit.
Banks know that there are many options out there to consumers, and client retention is important. So they will sometimes “bend the rules” a little to keep you happy. One of these instances is removing a missed payment from your credit account. A recent late payment reporting can have a significant reduction in your credit scores. I’ve witnessed a 60-80 point credit score drop with a new 30 day late come onto my clients credit.
In the case where it was an isolated event, you’ve not been late on the account before there’s a pretty good chance the bank will let it slide. If you’ve been late on the account before, or have multiple lates reporting they’re not going to help.
So if you’re a good candidate for a “good faith deletion” of the bad mark on your credit, call customer service and request the late be removed from your credit report. You may end up getting what you need.
For any other scenarios regarding your credit scores, feel free to contact me to discuss.
President and Certified Credit Expert