Miss one credit payment brehs...

[NoChillJones]

115 points

I would die man! I’ve worked on getting my credit right.. I’ve been paying my car note early or the day it’s due and it’s worked wonders on my credit. Man these credit agencies don’t play!

I don't think it matters the day you pay the payment as long as its paid and its not ever entered as "late" which the payment has to be redundant 60 days at least. That's why the OP's story makes no sense. Most creditors don't report late payment unless its 60 days or more. 30 days seems a bit off. Why he felt the need to post his credit score is odd as well.......

 

[HookersandIceCream]

A 30 day mark shouldn't have dropped your score by 115.


Tell us about that c/o or collection bruh

Either he has a real young/New credit or somethings up. I forgot payments here and there and it never dropped my score that much.

 

[BlackPrint]

Either he has a real young/New credit or somethings up. I forgot payments here and there and it never dropped my score that much.

2 years. Nothing's 'Up'.

If I had a collection, I wouldn't have had a 743 since mid 2016.

I guess I'ma just join the legion of dusty ass Coli nikkas.

 

[Hawaiian Punch]

I don't think it matters the day you pay the payment as long as its paid and its not ever entered as "late" which the payment has to be redundant 60 days at least. That's why the OP's story makes no sense. Most creditors don't report late payment unless its 60 days or more. 30 days seems a bit off. Why he felt the need to post his credit score is odd as well.......

Facts.


I also would say you could write or call the bank to see if they could remove the delinquency from the credit report.

 

[Orange cream shake]

I also would say you could write or call the bank to see if they could remove the delinquency from the credit report.

You better figure out a way to blame chase.


Set up all your credit accounts on auto pay even if it’s just the minimum just Incase of situations like this.

 

[Enzo]

You don't have automatic payments...

This x 10000


You have to automate your life brehs and and brehettes.


The way I have it now is I have 2 checking accounts and a saving account with my primary bank.

1 checking account is for bill pay only
1 checking account is for whatever (food, plane tickets, bottles, entertainment)

So a check comes in

.5 automatically goes to bill pay account
.2 automatically goes into savings
.3 automatically goes into catchall


I have it set up so all my bills automatically get paid out of my bill pay account on their respective dates and I also get a warning if it falls below a certain amount.
I pay gas on a separate credit card so that I can build credit and this automatically gets paid from the bill pay account every cycle.
My tenant pays his rent right into that account and the mortgage and the condo fee automatically come out of there as well.

Also, whenever my catch all account gets to a certain amount, right now, (anything over 3.5k), I transfer the excess into savings account, and the savings account money is also further diversified into different funds and investments.


I can't afford to miss a payment cause I wasn't paying attention. I'm trying to come up on a 4 unit or single family near Providence Hospital/Brookland by the end of 2018 to get that residual flowing.

Plus, I've seen how people take hits, whether credit, late fees, loss of insurance or benefits, etc all because they couldn't track everything. It's 100x better to automate your life. GTD+Evernote Secret Weapon style.

 

[TheDarkCloud]

I get the benefits of autopay but I would never do that shyt. I personally like being able to pay when I want, how much I want, how I want. I also don’t have many bills so it’s easy to keep track.

@BlackPrint you might be assed out, fam. They waived the late fee, but that is most likely all they will do. I know they do have the abilities to update the credit bureaus BUT most institutions only do that if it was an error of the bank.

 

[Mowgli]

Chase made me change my password in like September, I forgot the password and was too lazy to change it (you gotta send a message to your phone twice and all typa shyt), month went by and I lost 115 points for the first missed payment in my life.

I don't really be using credit cuz I already got an apartment and a car, but shyt nikka feels like a gut punch.

Thats your fault

Set up auto pay next time big fella

 

[Ayo]

You all really need to read up on how credit reporting works. Most times you aren't even seeing the scores your potential lenders/financiers are seeing. These companies can solicit custom reports from the reporting agencies tailored to their specific industry (auto, mortgage, general loan). If your credit is rock bottom (540) or sky high (800) then that shyt won't matter. But most people are in the middle and that's where those few points can be the difference between owning a house or renewing that lease for another year.

FICO is pretty much the industry standard. The FICO models that most companies (banks, creditors etc) use / pull are publicly available information. 2,4,5 for mortgages, 8 for most credit cards and cars. And pretty much every model is now sold to the public with few exceptions.

Most lenders, like Fanni Mae for example, tell you right on their website what they pull.

Of course the raw score is just one data point. They’ll probably look over the full report as a whole and other factors such as debt to income, closed accounts, income etc. I can have a 800 score and still be declined.

 

[Ayo]

A 30 day mark shouldn't have dropped your score by 115.


Tell us about that c/o or collection bruh

Yes it will.

A 30 day late will also pretty much kill any chance you have to get new quality credit (without a recon call) for the next 2 years, if not more. It will most likely automatically flag a decline and require a call.

After a few months OPs credit score should go back up though and after 2 years it will have little to no effect on the score itself.

 

[KingBeez]

Lose 115 points off your credit score because you are technologically inept brehs

 

[Liquid]

This is why you always have at the very least auto-pay set up to the minimum.

 

[Ayo]

OP you can always try and write a Good Will removal letter to Chase.

 

[KushSkywalker]

My revolving debt a little high right now cause of a couple things I had to get but my shyt good. Using autopay on everything is your best bet.

Autopay ftw

Don't worry OP it'll bounce back in a year or two.

 

[Hawaiian Punch]

This x 10000


You have to automate your life brehs and and brehettes.


The way I have it now is I have 2 checking accounts and a saving account with my primary bank.

1 checking account is for bill pay only
1 checking account is for whatever (food, plane tickets, bottles, entertainment)

So a check comes in

.5 automatically goes to bill pay account
.2 automatically goes into savings
.3 automatically goes into catchall


I have it set up so all my bills automatically get paid out of my bill pay account on their respective dates and I also get a warning if it falls below a certain amount.
I pay gas on a separate credit card so that I can build credit and this automatically gets paid from the bill pay account every cycle.
My tenant pays his rent right into that account and the mortgage and the condo fee automatically come out of there as well.

Also, whenever my catch all account gets to a certain amount, right now, (anything over 3.5k), I transfer the excess into savings account, and the savings account money is also further diversified into different funds and investments.


I can't afford to miss a payment cause I wasn't paying attention. I'm trying to come up on a 4 unit or single family near Providence Hospital/Brookland by the end of 2018 to get that residual flowing.

Plus, I've seen how people take hits, whether credit, late fees, loss of insurance or benefits, etc all because they couldn't track everything. It's 100x better to automate your life. GTD+Evernote Secret Weapon style.

This.