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It looks like time really does heal most wounds. I've been trying with NO success to GW a 60 day late from November of '07. Bsides a 30 day late from '06, it was the only derog left in my payment history. Last year, my scores were 659 with EQ and 697 with TU, and they would not BUDGE for the entire year other than the minor fluctuations of 3-5 points up or down. Let's just say I was frustrated. So I kind of put it out of my mind for a while until I got a letter saying I'd received a CLI on one of my cards. It jogged my memory that the 60 day late is now two years old and so I pulled my scores - 756 with EQ and 759 with TU!!! That totally made my day. I'm ALMOST a 760!!!!!
Just wanted to say thanks to everyone who has helped me! I first pulled my scores in late 2007 and they were in the mid-500s. Without these boards, I'm not sure I would have known what to do. What a nice early Christmas gift from FICO-Claus!
Wow that is amazing! I am hoping for that kind of christmas gift as well.
I just had a question--you mention 2 years and the scores jumped dramatically. Do the lates not count for much after 2 years? I have lates on cards I settled with in early 2007 (between Jan-Apr) so it has been over 2 years for me--but it will be close to the 3 year mark this Jan--does that mean my scores can jump dramatically with each year? Thanks!
Wow!!!! Congrats.
So, nothing changed besides the 60 days' age? Based on your siggy, how much did util change between 10/08 and now?
@Homebuyer24 wrote:Wow that is amazing! I am hoping for that kind of christmas gift as well.
I just had a question--you mention 2 years and the scores jumped dramatically. Do the lates not count for much after 2 years? I have lates on cards I settled with in early 2007 (between Jan-Apr) so it has been over 2 years for me--but it will be close to the 3 year mark this Jan--does that mean my scores can jump dramatically with each year? Thanks!
A settled account is looked at by FICO the same as a charge off. Those are really hurting you and need to be removed to help your score.
To catzcradle:
That's excellent, excellent news!!!
Ilecs - That was the most significant change. I had one inquiry showing in 6/08. I don't have any inquiries now. My util was at 7% in 10/08. I'm at 3% now, but I do tend to bounce around between about 2% and 9%. It never seemed to matter much for me when I was checking throughout the year.
Homebuyer24 - I know I read on the boards here at some point that 2 years is when the negatives start to have significantly less impact, but I imagine they continue to decrease in impact as time goes on. So hopefully you will see some Fico-love at 3 yrs! Let us know, then I'll be looking forward to 3 yrs myself!