Debt

Steps To Remove A Kohl’s Late Charge From Your Credit Report

If you forgot to make a Kohl’s credit card payment, it could hurt your credit quite a bit (50 points to be exact). Not only that, but future lenders won’t want to lend to you because you’re a ‘risk.’ If they do lend to you it will be at higher rates or less attractive terms to make up for the risk.

This could last for up to 7 years as that’s how long a late payment record stays on your credit report. That’s a long time to deal with anything negative on your credit report.

Fortunately, you can remove a Kohl’s late charge from your credit report if you take the right steps.

Write a Goodwill Letter

If you normally have good payment habits and your credit card payment just slipped your mind, consider writing a Goodwill Adjustment Letter to Kohl’s.

If you have a decent relationship with Kohl’s because you normally make your payments on time and/or you use the card often, they may work with you. The process is simple.

Write Kohl’s a letter stating that you’re aware you missed your payment. State the reason you were late (be honest) and ask them to forgive it this one time. If you haven’t made a habit of making your payments late, they may accept your apology and erase the late payment from the credit report.

This works best if you prove it was a one-time thing. For example, you or a relative were in the hospital and you got behind or you moved and not all your mail got forwarded. It has to be something that’s rectifiable. 

Negotiate a Pay for Delete

If Kohl’s won’t give in and give you the goodwill adjustment, next ask for a pay for delete. This works best when you don’t have a solid payment history or Kohl’s is about to send your account to collections. If you overlooked the late payment for several months, this could happen.

Before they do, negotiate with them, asking for a pay for delete. This is a request to delete the late charge from your credit report after you pay the bill in full. This doesn’t mean make the minimum payment and leave a balance outstanding. Instead, tell Kohl’s you’ll pay the full balance (if you can afford it) in exchange for them deleting the late payment from your credit report.

File a Credit Dispute

If you think your Kohl’s late charge was recorded in error, you can file a dispute with the credit bureau reporting it. You get free access to your credit report here. Find out which bureau(s) report the issue and dispute it with them.

Make sure you make the dispute in writing, letting the bureau know exactly why you think it was reported in error. Include as much physical evidence as you can. The credit bureau has 30 days to respond to your request. If multiple bureaus report the issue, write a letter to each bureau. 

Get Help from a Credit Repair Agency

Getting a late payment from Kohl's removed from your credit report isn't as difficult as it may first seem.

If you’ve exhausted your options and Kohl’s won’t meet you halfway or you don’t have time for the back and forth, consider hiring a credit repair agency. A reputable agency can work with Kohl’s to remove the late payment from your credit report.

The professionals at credit repair agencies know what to look for and how to dispute the items with the creditor. They’ll negotiate on your behalf and try to get Kohl’s to reverse the late payment. While the Kohl’s tradeline will stay on your credit report, if the credit repair agency is successful, it won’t show your late payment any longer.

Don’t Leave a Kohl’s Late Charge on your Credit Report

Losing 50 points on your credit score can be devastating especially if you already had a borderline credit score. Even though you could lose the points overnight, it’s not as easy to make them back up, even with on time payments again.

Don’t leave a late payment on your credit report to chance. Take the necessary steps to remove it from your credit report by disputing, negotiating, or getting help from a credit repair agency. With a little work, you can remove the debt from your credit report allowing you to move forward with your credit and financial life without the hassle that a late payment can cause.