Ding on credit, should I apply??
Aug 5, 2014 | 8:26 pm
#1
Original Poster
Join Date: Aug 2014
Posts: 52
Ding on credit, should I apply??
New to the points game, got a CSP in March and I've already earned 20k points in addition to the signing bonus. Over the weekend I applied for the Chase Ink Plus with the 70k bonus points and I’m waiting to hear if I am approved. Today I got my credit score from my Discover It card and it was 746 but I noticed it said I had a delinquency. I pulled my report an sure enough Transunion shows a late payment on 04/14.
This was an issue with an automatic payment a few months ago on my Rooms to Go card (gemoney) and when I called to straighten it out I was assured that if I paid the balance in full they would waive the fees and it would not be reported to my credit. I called again today and was told it could take 20 days for them to review. I’m willing to give them the 20 days and if they don’t remove it I will dispute.
My problem is I was planning on applying for the US Airways card and the Marriot Rewards card tonight. I chose US Airways because there is no spending requirement and there is a possibility that they will merge the points with AA. I chose Marriott because they are offering an extra 20k compared to their normal bonus. I figure I can’t apply for much more right now and still be able to meet the spending requirements. Maybe the Freedom but I was holding out to see if they come up with a better offer.
Now I’m wondering if I should even bother applying since there is a ding on my credit. It’s the only late payment on there but I don’t want to apply and get declined on cards either. I don’t want to lose the chance for the extra 20k points either. Do you think I should apply still?
This was an issue with an automatic payment a few months ago on my Rooms to Go card (gemoney) and when I called to straighten it out I was assured that if I paid the balance in full they would waive the fees and it would not be reported to my credit. I called again today and was told it could take 20 days for them to review. I’m willing to give them the 20 days and if they don’t remove it I will dispute.
My problem is I was planning on applying for the US Airways card and the Marriot Rewards card tonight. I chose US Airways because there is no spending requirement and there is a possibility that they will merge the points with AA. I chose Marriott because they are offering an extra 20k compared to their normal bonus. I figure I can’t apply for much more right now and still be able to meet the spending requirements. Maybe the Freedom but I was holding out to see if they come up with a better offer.
Now I’m wondering if I should even bother applying since there is a ding on my credit. It’s the only late payment on there but I don’t want to apply and get declined on cards either. I don’t want to lose the chance for the extra 20k points either. Do you think I should apply still?
Aug 5, 2014 | 8:56 pm
#2
Join Date: Feb 2006
Programs: HH Gold (again), US/UA/DL non-elite, ZE Presidents Circle, WN reluctant no fee convert.
Posts: 1,449
It's been my experience that there are two kinds of forgiveness when it comes to a late payment.
One, accepting a customer's payment, explanation, and crediting a late fee.
Two, pulling back a 30-day late from a credit report.
First one, easy. Second one, rare.
The payment was late and it's reported. The service rep usually has no power to pull the late payment from the credit bureau. He/she makes the best of the call by agreeing to something. I suppose there may be a tool in the company computer program that allows a request. But, I doubt it's acted upon.
Make sure all your income to ratio percentages are as low as you can get them and give yourself some room/time to pick up a few points on the credit score before you apply. I just completed an app with Chase where TU was the credit bureau used. Barclay will use them too, I think. How does your score track with DS the months since April?
Besides the CSP in March, do you have any more seniority with other cards in your credit file? How old is the GE account, DS account?
Your call but I think I would try the US MC. Best wishes.
One, accepting a customer's payment, explanation, and crediting a late fee.
Two, pulling back a 30-day late from a credit report.
First one, easy. Second one, rare.
The payment was late and it's reported. The service rep usually has no power to pull the late payment from the credit bureau. He/she makes the best of the call by agreeing to something. I suppose there may be a tool in the company computer program that allows a request. But, I doubt it's acted upon.
Make sure all your income to ratio percentages are as low as you can get them and give yourself some room/time to pick up a few points on the credit score before you apply. I just completed an app with Chase where TU was the credit bureau used. Barclay will use them too, I think. How does your score track with DS the months since April?
Besides the CSP in March, do you have any more seniority with other cards in your credit file? How old is the GE account, DS account?
Your call but I think I would try the US MC. Best wishes.
Last edited by jan_believes; Aug 5, 2014 at 9:02 pm
Aug 5, 2014 | 8:57 pm
#3
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
I would wait myself, but if you are going to play this game and keep applying you better get some systems in place to avoid this in future....It had to be >30 days late to be reported to CB's and a dispute will likely get you nowhere unless cc issuer takes care of it for you (unlikeky IMHO).
I would lay off Chase, as I am guessing you are a fairly new customer of theirs. You got SP in March and do not even know if you are approved for the Ink yet...However, you are talking about applying for 2 more Chase cards (thats 4 cards in <5 months, not smart for a new customer)...perform some due dilidence and spread your apps to different banks or you risk Chase closing all your accounts and blacklisting you.
Btw, there has been a 70k offer on Marriott pretty much nonstop for at least a couple years. Freedom is not worth a HP, as it is a great card to downgrade too...I would not waste a HP on anything worth <$400 value.
I would lay off Chase, as I am guessing you are a fairly new customer of theirs. You got SP in March and do not even know if you are approved for the Ink yet...However, you are talking about applying for 2 more Chase cards (thats 4 cards in <5 months, not smart for a new customer)...perform some due dilidence and spread your apps to different banks or you risk Chase closing all your accounts and blacklisting you.
Btw, there has been a 70k offer on Marriott pretty much nonstop for at least a couple years. Freedom is not worth a HP, as it is a great card to downgrade too...I would not waste a HP on anything worth <$400 value.
Aug 5, 2014 | 9:59 pm
#4
Original Poster
Join Date: Aug 2014
Posts: 52
It was a simple snafu with an automatic payment coming out of an account other than my primary accounts so I didnt notice the problem. At the time I spoke with the rep at GE money the late payment had not been reported on my credit, which is why I believed him when he said it wouldn't be reported. I wont make that mistake again and will get it in writing in the future. Not that I am ever planning to have a late payment again. This was my first late payment ever.
I have the following accounts and opening dates:
Syncb/Rooms to Go (formerly ge money) 10/19/2010
Amex Blue Card 04/29/2007
Delta Amex 05/2012
Costco Amex 05/23/2013
BOA Cash Rewards 06/20/2002
BOA Cash Rewards 11/26/2004
Capital One 04/02/2001
Chase Sapphire 03/08/2014
Citi Thank You Preferred 11/01/1999
Discover It 02/25/2009
HSBC Cash and Fly 03/24/2007
My credit history is established from the time I was 18. At some point the costco amex and delta amex will get cancelled and I'll have them transfer the credit lines to other cards. The capital one card rarely gets used but I keep it because of the age. I've had various Chase accounts over the years and have closed them for various reasons.
According to my discover statements it was an 804 5/14 (obviously before the reporting of the late payment), 740 06/14, and 746 07/14. It is probably too much to hope that I would gain 6 points every month, which would bring me back to 800 in about 9 months. I try to pay my balances before the statement closing date whenever possible.
I was only considering the Freedom at some point because I can transfer the points to my UR account since I also hold the CSP. I figured I could max out the bonus categories each quarter but was planning to wait until the offer went back up to $200 (20k pts).
I have the following accounts and opening dates:
Syncb/Rooms to Go (formerly ge money) 10/19/2010
Amex Blue Card 04/29/2007
Delta Amex 05/2012
Costco Amex 05/23/2013
BOA Cash Rewards 06/20/2002
BOA Cash Rewards 11/26/2004
Capital One 04/02/2001
Chase Sapphire 03/08/2014
Citi Thank You Preferred 11/01/1999
Discover It 02/25/2009
HSBC Cash and Fly 03/24/2007
My credit history is established from the time I was 18. At some point the costco amex and delta amex will get cancelled and I'll have them transfer the credit lines to other cards. The capital one card rarely gets used but I keep it because of the age. I've had various Chase accounts over the years and have closed them for various reasons.
According to my discover statements it was an 804 5/14 (obviously before the reporting of the late payment), 740 06/14, and 746 07/14. It is probably too much to hope that I would gain 6 points every month, which would bring me back to 800 in about 9 months. I try to pay my balances before the statement closing date whenever possible.
I was only considering the Freedom at some point because I can transfer the points to my UR account since I also hold the CSP. I figured I could max out the bonus categories each quarter but was planning to wait until the offer went back up to $200 (20k pts).
Aug 5, 2014 | 10:08 pm
#5
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
It was a simple snafu with an automatic payment coming out of an account other than my primary accounts so I didnt notice the problem. At the time I spoke with the rep at GE money the late payment had not been reported on my credit, which is why I believed him when he said it wouldn't be reported. I wont make that mistake again and will get it in writing in the future. Not that I am ever planning to have a late payment again. This was my first late payment ever.
I have the following accounts and opening dates:
Syncb/Rooms to Go (formerly ge money) 10/19/2010
Amex Blue Card 04/29/2007
Delta Amex 05/2012
Costco Amex 05/23/2013
BOA Cash Rewards 06/20/2002
BOA Cash Rewards 11/26/2004
Capital One 04/02/2001
Chase Sapphire 03/08/2014
Citi Thank You Preferred 11/01/1999
Discover It 02/25/2009
HSBC Cash and Fly 03/24/2007
My credit history is established from the time I was 18. At some point the costco amex and delta amex will get cancelled and I'll have them transfer the credit lines to other cards. The capital one card rarely gets used but I keep it because of the age. I've had various Chase accounts over the years and have closed them for various reasons.
According to my discover statements it was an 804 5/14 (obviously before the reporting of the late payment), 740 06/14, and 746 07/14. It is probably too much to hope that I would gain 6 points every month, which would bring me back to 800 in about 9 months. I try to pay my balances before the statement closing date whenever possible.
I was only considering the Freedom at some point because I can transfer the points to my UR account since I also hold the CSP. I figured I could max out the bonus categories each quarter but was planning to wait until the offer went back up to $200 (20k pts).
I have the following accounts and opening dates:
Syncb/Rooms to Go (formerly ge money) 10/19/2010
Amex Blue Card 04/29/2007
Delta Amex 05/2012
Costco Amex 05/23/2013
BOA Cash Rewards 06/20/2002
BOA Cash Rewards 11/26/2004
Capital One 04/02/2001
Chase Sapphire 03/08/2014
Citi Thank You Preferred 11/01/1999
Discover It 02/25/2009
HSBC Cash and Fly 03/24/2007
My credit history is established from the time I was 18. At some point the costco amex and delta amex will get cancelled and I'll have them transfer the credit lines to other cards. The capital one card rarely gets used but I keep it because of the age. I've had various Chase accounts over the years and have closed them for various reasons.
According to my discover statements it was an 804 5/14 (obviously before the reporting of the late payment), 740 06/14, and 746 07/14. It is probably too much to hope that I would gain 6 points every month, which would bring me back to 800 in about 9 months. I try to pay my balances before the statement closing date whenever possible.
I was only considering the Freedom at some point because I can transfer the points to my UR account since I also hold the CSP. I figured I could max out the bonus categories each quarter but was planning to wait until the offer went back up to $200 (20k pts).
If that ding stays on your CR you will not likley see 800 again for years. I think it is ~7 years before it completely drops off, but the effect on your score will lessen over time.
Freedom is a good card for 5x categories, however I would not waste a HP on it. I would downgrade another card to it myself and save HP for a much more lucrative card.
Aug 18, 2014 | 6:48 pm
#6
Original Poster
Join Date: Aug 2014
Posts: 52
Just got the letter from my Rooms to Go card that they have contacted all major credit reporting agencies to remove the delinquency from my credit. They said it could take 30 - 60 days for it to be removed but I have the letter as proof if I need to file a dispute. Just goes to show that it pays to ask no matter how unlikely something is.
Not that it much mattered. I've been approved for two business cards and personal card even with the delinquency on there. Amex guy even complimented me on my score when he was working on my application, lol.
Not that it much mattered. I've been approved for two business cards and personal card even with the delinquency on there. Amex guy even complimented me on my score when he was working on my application, lol.