Late Credit Card Payments

[bed]

Sorry if this has been asked before. I'd be surprised if it hasn't, but I couldn't find it in the 50+ threads I combed through before giving up.

Do lates reported on credit cards remain on your credit report as long as the account is still being listed or does your payment history only go back a certain amount of time?

For instance, if I have a late payment over 30 days, pay it after it is reported late, close my account some years later, Will that late be listed until the account falls off my reports a decade later?

[Anonymous]

They only stay on for 7 years

[bed]

The entire account only stays on the report for seven years, or just the lates drop off?

[Anonymous]

Let me give you an example of how it works. I had a car payment that I was late on once. I paid the car off and the account closed, but will remain on my report for a few more years. The 30 day late was over 7.5 years ago, so now it says "ND" where the late used to be, while all my other months say "OK". So the late will only show as a late for 7 years from the date you were late, then after that they will remove the late and it will show no data for that month, while all of your other on time payments will still show for the rest of the time the account reports on your file.

[taxi818]

To make it easy to understand. Bad info on report. lates. and etc. stay on up to 7 years 6 months. never seen any stay that long anyway. Good stuff 10 years. up to 10 years.

the late will stay the entire time as long as the account is open. but only up to the 7 year mark. so if i open account today. and am late tomorrow. The clock starts from the time im late. not when i opened the account. I say just good will them if the account has only been late once. They will more than likely remove the late. Even cap one has been known to do this. for long term customers.

[bed]

Thanks for the input, guise.

[Anonymous]

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@bed wrote:

Thanks for the input, guise.

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You're welcome! After reading my previous post I see it was a bit confusing, so just to be clear, only the lates will fall off in 7 years. If the account gets closed, the account will stay on your report for 10 years from the closing date, but any late payments you had on that account will be removed about 7 years from the date of the late.

[Anonymous]

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@Anonymous wrote:

Let me give you an example of how it works. I had a car payment that I was late on once. I paid the car off and the account closed, but will remain on my report for a few more years. The 30 day late was over 7.5 years ago, so now it says "ND" where the late used to be, while all my other months say "OK". So the late will only show as a late for 7 years from the date you were late, then after that they will remove the late and it will show no data for that month, while all of your other on time payments will still show for the rest of the time the account reports on your file.

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Thanks for explaining -- I've been wondering the same thing.