Here is the story. I am refinancing my house. Mom left it for me 3 years ago when she died. The loan is still in her name and I pay it every month. 3 years ago I had 42 thirty day late notices from 2001 when I wasn't working and student loans piled up. Today I have 2 30 day late and that is it on my report. Here's the problem, nightmare. I monitor my credit with freecreditreport.com. March 7th I got an email saying I was 30 days late. I pay all my bills using wells fargo online bill pay. The company that reported a 30 day late had changed their mailing address and did not notify me so I could update my bill pay. After contacting them and Wells Fargo explaining that they sent the payments they removed it but it won't update until April 1st, this Wednesday. Mean time, my America Express card did a random credit check, saw this 30 day late and canceled my AMEX card! I tried to explain what was happening and they of course said they can't do anything and I will have to apply for a new card. Because of 1 30 day false notice!!!!!! I have $12k total revolving credit with about $11K on the cards (almost maxed out). Getting ready to get the loan for the house I put $5k to pay down the cards March 15th. My scores were 666 - 675 -702 end of February. With 1/2 of my revolving credit paid off I was hoping the scores would be over 700. Now I just lost my $2K AMEX card and that hurts my credit to debt ratio? I did just send them $1500 2 days before they canceled my card. What can I do!? -Lars
Amex is looking for any reason to close/cancel cards right now. Don't take it personally. I have heard though, that if you reapply and are reapproved, at some point they back date the opening of the card to the date you originally became a "member".
