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JerseyJeff84
Posts: 32
Registered: ‎07-11-2009
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Frustrated with my newest report: Will adverse accounts ever change?

I just opened my most up-to-date TransUnion report today and as has been the case for a few years now, it keeps showing two of my credit cards as adverse, even though the payments have been current for two years now. Back in 2009 when I was in between jobs, I missed payments on both my Capital One and my Bank of America credit cards. Since then, they both have been paid on time. However, my reports keep showing them under my "adverse" accounts instead of "satisfactory." Is this ever going to change? I'm sure it's really hurting my score as it is listed with my collections, instead of my satisfactory column.

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llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Frustrated with my newest report: Will adverse accounts ever change?


JerseyJeff84 wrote:

I just opened my most up-to-date TransUnion report today and as has been the case for a few years now, it keeps showing two of my credit cards as adverse, even though the payments have been current for two years now. Back in 2009 when I was in between jobs, I missed payments on both my Capital One and my Bank of America credit cards. Since then, they both have been paid on time. However, my reports keep showing them under my "adverse" accounts instead of "satisfactory." Is this ever going to change? I'm sure it's really hurting my score as it is listed with my collections, instead of my satisfactory column.



Adverse accounts will change to a positive once the negative comment, status, or late showing within that tradeline goes away. The lates can remain up to 7 yrs from that date, though you can always send a GW letter asking them if they wouldn't mind removing the lates early.

 

Per FICO scoring, look at your FICO report. They have a column within the Accounts page showing annoying red flags. If there's a red flag, then FICO sees it as a baddie. You mentioned "Adverse" and "Satisfactory". Many Experian-based products use those words to describe a bad or good account. What that report shows may or may not be indicative of how FICO sees a positive or negative account, though if two years old, there should be a red flag on the FICO report too.

 

In general, and certainly YMMV based on your report, 30-day lates will stop dinging you around the two-year mark. 60 day lates are diminished greatly and probably isn't felt if other baddies are reporting. 90+ day lates including collections and public records are felt through the entire 7 yrs.


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