I am considering writing a GW letter to USAA for an account with the following history (from Transunion):
Status as of: Mar 2006
Date opened: Apr 1995
Date of last activity: Jan 2006
Date paid out: Jan 2006
Date closed: Nov 2001
Canceled by credit grantor
30 days late: 6 times (Jun 2004 most recent)
60 days late: 4 times (Jul 2003 most recent)
90+ days late: 4 times (Aug 2002 most recent)
Worst delinquency: 120 days past due
I called USAA yesterday about this to see if they had record of the account, and they couldn't find anything. One of the credit analysts said it's probably buried in a back log of some sort. It seems like this stuff should be dropping off soon, right?
It doesn't hurt to try. I would definitely send a goodwill letter and also put information about how you have been a loyal customer through your homeowners insurance.
Also with these types of baddies, it will stay on your report for 7-7.5 years.
Therefore take the date of when the lates occured and add 7-7.5 years on to that.
if you get your free credit reports from annualcreditreport.com, on TU and I think EX, i could be wrong, it will tell you the date in which the baddies will come off.
Hope this helps
So do individual lates come off on a "baddie-by-baddie" basis, or since this card is old, will the whole thing come off?
Individual baddies will come off on a how you call baddie by baddie basis.
The account will come off supposely 10 years after the account was closed.
This account is hurting you somewhat because of the lates however it is helping you with average age.
This is of course, you dont have accounts that are older than this one.
If they delete the baddies, it will be a very good tradeline that is helping with AAofA.