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Question By
JLSFO

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0 People Helped
Credit Score RADICALLY dropped due to one missed payment? An It was $8 for an annual Fee?
This happened to me too! My score dropped over 100 pts. The only change is a late payment on a card I never use - and so wasn't paying attention to it. This card "dinged" me for an $8 - yes: EIGHT DOLLAR - late payment. The $8? It is an annual membership fee!!! Otherwise all myother cards ar epad in full, save one that has a 5% balance I am paying off. That balance was HIGHER previously and my score was HIGHER also!


This seems incredibly unreasonable to me. Any help or advice appreciated.

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Top Contributor
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Late payment is late payment, to credit scores its same no matter if its 8 dollars or 8k, yes, I do agree the 100 pts drop is unreasonable and its impact last far too long as well.

Top Contributor
241 Contributions
85 People Helped

Most cards will give a one time forbearance on a late payment. You can try to call them and see if they will take off, but typically that is something you should have done the second that you found out about it.

Top Contributor
1788 Contributions
3027 People Helped

Thats why you look at your Statements Each Month.   

Guess you will never be late again,   Lesson Learned.

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