I've got the K-Mart card, have had it for three months with no late payments. I am also a co-signer (secondary) on a new car lease, and have gone the last year and a half with one 30 day late payment (last month unfortunately). All I really want right now is a loan to buy a Motorcycle with. $7000 would be great, but I would accept much less. I also do not mind paying mid-20's for a finance rate. Yes, I know... but considering that within a year I'll have a GREAT job, I would not mind paying the high interest for a year, then refinancing later. Any suggestions for a fella like me? Thanks, everyone!
Great Job, you are well on your way. Why dont you try and dispute that late payment, on the basis that you value their business and as a courtesy, could they delete the late payment. This could bring your score up and possible get you a lower APR for that motorcycle. Good Luck,
Ugh, well that late payment comes with a bit of a story. Five days before my payment was due, I had my online bank make the payment. Well... I don't know what happened but the payment was received by my lease company as a day late. My bank says they mailed it out with plenty of time, and my lease company says they got it a day late and it's not their fault. So, after lots of arguing, I was told by the lease company not to worry, as they did not report 30 late payments to the credit reporting agencies. So I said okay. Then a couple of months later, I made a payment that was 15 days late. Thinking, no big deal... it won't show up on the credit report. My mistake. It's ON THE REPORT.
How can they report you for being 30 days late if you were only 15 days late??? Or even 1 day late??? DISPUTE IT!!!!! Bottom line is that's not 30 days. That is part of the argument that I had w/ Ford Credit. My ex was making payments *late* but not over 30 days late! They refused to work with me......even after I faxed financial statements. I disputed w/ the CRAs and they ALWAYS came back verified. I was only a co-signer.
That is very irritating to me as well. It is not 0-30 days, it is 30 days and over. Creditors can't make their own rules. Tell the creditor this and demand proof that you were 30 days late.
You can't be 30 days late if you paid the debt 5 days late. Some creditors understand this, but some are idiots. Unfortunately I don't see anything defining a "30 day late" from FCRA or FTC. Maybe FCRA "assumed" that "30 day late" was self-explanatory? I have only had one creditor that I am sure of that does that 0-30 crap.
