One of the financial tips that I was going to recommend just backfired in my face & caused my credit score to drop by 61 points!!! I pay $12.95 per month to freecreditreport.com for them to monitor my credit. I am able to view my Experian credit report at any time for free and I thought I was also getting some protection from the big bad credit card companies.
Well, back in June, I closed one of my credit cards after I paid it off in all. I saw that it was correctly reported to Experian as closed. Seemed like a done deal to me. However I just learned that around the same time, that credit card company was bought by a different company, who not only re-opened my account, but they enrolled me in some rewards program that cost $39.95 a year. They claim they sent out a letter and my non-response would indicate my approval.
Silly me. I checked my credit report today & was shocked to see that I am over 30 days late in paying for the rewards program that I never signed up for!!! And of course, they tacked on late fees & interest!!!
Not only did I get screwed but my precious $12.95 that I pay each month to freecreditreport.com for credit monitoring didn’t even notify me of this! I ONLY found out because I checked my credit report today. I’ve had credit cards for about 20 years & this is the first time EVER that I have ever had a late payment or a negative comment on my credit report & it wasn’t even my fault! I so SO livid right now & am going to be complaining like crazy!
The credit card company blamed me, but in the end, they refunded the $71.49 ($39.95 plus late fees plus interest) and are faxing me a letter to state they will report this to Experian in 1 to 3 months. And, freecreditreport.com will be refunding me $12.95 for their error, which I don’t feel is equitable by any means, but it is a start.
Anyway, I feel like a very small fish in the huge ocean of credit card companies right now, but I am a fighter and will continue to pursue this matter. I’m sure I’m not the only victim out there.
So, overall, be aware & even though this may sound pessimistic, if things ‘can’ go wrong, they probably will. You need to check, check and then double-check again. This gives me pause to remember that I am the driver in my life, as taught to me by Dr. Tae Yun Kim of Jung SuWon Martial Arts School. He Can Do, She Can Do, Why Not Me!
I admit that I felt a bit defeated when I saw my credit score drop by so much & when I was told that this was all my fault. But no, that isn’t correct. If anyone knows how I can let others know what happened to me, please let me know. I’m a fighter and won’t be pushed around or bullied.