After a year 30 day lates lose a lot of their sting, and almost all after 2 years. Hopefully you will see another bump from the decreased util.
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I would be cautios when sending a GW letter for that late now. You don't want them to throw the account into dispute while apping for a mortgage.
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ktm214 wrote:
Shogun,
As far as the 30 day lates having less impact after a year, does the same theory hold true for 30 day lates on a mortgage? How about 60 day lates on a mortgage?
Yes, it would be the same. As far as the lates, 30 and 60 day lates are considered minor derogs and will diminish quickly. 90 and above however are major derogs and will still diminish over time but will still impact your score until they drop off.
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