@Anonymous wrote:
If you had some old credit removed from your credit report does the MISSED payment history for that credit also gets removed? If so does that help your credit tremendously?
Yes, if you have had a trade line or installment loan removed from your credit report than everything is removed - the reporting of that line/installement simply will no longer be on your report.
A missed payment is a negative on your report that lowers your credit score thus, in general, you can see a credit score increase. If you will see an increase and how much of an increase depends on a number of factors.
-how late was the missed payement, 30/60/90/etc...
-how old was the missed payment
-what was the age of the tradeline itself
-by removing the tradeline you also removed all the available credit that came along with it, this can increase your utilization and thus lower your score
It is not possible to say with any certianty if you will get an increase without knowing where these other factors stand. Depending on these factors you could actually see a score decrease. For example, if it was a 30-Day late, only one, and it was 2+ years old its affect was minimal to begin with, however, if the tradeline you removed was a large part of your overall available credit, and your utilization on your other cards was high to begin with, well now your utilization just went through the roof and that will put your score in the toilet. In addition, if the tradeline in question had considerable age to it, well you just lost a load of AAoA as well (Average Age of Accounts) and that hurts your score as well.
Seems simple, just remove a tradeline, a late with it, and my score should go up, not so fast...
796 TU FICO 08 (08/2018)
758 TU FICO 08 (01/12/2016)
753 TU FICO 08 (11/21/2015)
740: EQ Score Power (Beacon 5.0) FICO 04 (01/23/2015)
755 TU FICO 08 (01/21/2015)
652 TU Lender Pull (06/10/2014)
665 TU FICO 08 (05/21/2014)
Goal: 800+
