Credit

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

When you miss a payment on your Kohl’s credit card, it can result in a “late payment” mark on your credit report. A late payment can significantly impact your credit score. In fact, a single 30 day late payment could lower your credit score by 50 points!

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.

Luckily, the older the late payment, the less of an impact it will have on your credit score. But that’s also why it’s important to remove the Kohl’s late payment (or collection) as soon as possible.

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

Write a Goodwill Letter

When you otherwise have good payment history on your Kohl’s card, the first method to consider is writing them what’s called a “goodwill letter”. A goodwill letter is basically a letter that tells them why you were late paying your bill and that you won’t let it happen again.

Again, depending on your previous payment history, this method can be very effective.

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

The goodwill letter won’t work in every situation. Not all creditors will accept your letter and remove the late payment. It also won’t work when you have multiple late payments. In this situation, you should consider writing a pay for delete letter.

Pay for delete 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.

This letter 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.

Regardless of if you send them a letter or negotiate the pay for delete over the phone, make sure you get any agreements in writing! This will ensure they keep their word and actually delete the late payment entry 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: Equifax, Experian, and Transunion.

Make sure you really look over your credit report and find any inaccuracies. You can dispute any errors and often times they will remove the late payment when they cannot verify the correct info.

Get Help from a Professional

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

When 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 professional. A reputable credit repair agency can work with Kohl’s to remove the late payment from your credit report.

If you’re the type of person who would rather have a professional handle it and just be done with the whole thing, I suggest you check out Lexington Law Credit Repair. They’ll take care of you, and honestly they usually get collections removed quicker than if you try to do it yourself. Give them a call at 1-844-331-6062 or Check out their website.

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.