Reply to What can I do about FICO drop?

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Reply to "What can I do about FICO drop?"

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[quote=Anonymous][quote=Anonymous]I have worked like crazy to get debt paid off and was up to 758.  Here's what happened.m  Apparently when I made my December car payment, I must have not hit the final button to have the payment go through.  So when I went to pay the January amount, they said I was past due by 37 days.  I immediately paid both months.

Now when I saw my latest FICO, it dropped 50 points based on being late on a $300 payment.  Is there anything I can do about it?  My credit has been absolutely spotless.  As they also base car insurance off of FICO, feel like I am going to get royally hosed.  Thank you.  I guess they don't realize/care that people can make an honest mistake.[/quote]

Call you auto lender. They can remove derrogatives from your credit report. It's a bit of leg work for them though, so be very courteous.

Also, perhaps, tell a bit of a white lie and that you'll be buying another car soon. Therefore you are very worried about getting the best possible terms due to the FICO drop and that you'd love to consider them as your first choice lender, if they can help you out. Escalate to management, the front line phone rep probably will not be able to help you.

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