No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hey all, I am getting so many conflicted opinions on this one. So, I have MANY lates on student loans over the years -- the most recent being November 2014 (only 3), and before that February 2014 (3 as well). Prior to that there were no lates since 2012. How long do these lates hurt my score?? Some analysts and advisors state after 2 years the lates n olonger hurt scoring, but stay on report for 7 years. Others say they will affect the FICO for 5 years, others say the full 7.
Is there any real answer to this? My scores a year ago were under 500, now they are TU 570 EX 600 EQ 585. I have 4 credit cards about 9 months old, excellent standing, and trying to get UTIL under 35% to maxmimize FICO (currently at 55%). any advice here? I am GW the student loan lender to see what we can do here. I just want to know how long these impact my score. Thank you !!
Are these 30 days?
Yes -- all 30 days only
Typically 2 yrs for 30 day lates. They are minor derogs
That is what I thought ... I have GWed them just to see if it will change. Thank you !
Is it 60 and above that sting for the full 7?
Oz
@Anonymous wrote:Is it 60 and above that sting for the full 7?
Oz
60s can sting the full time on file depending on overall profile so its YMMV, 90 day plus ya the full time on file no question about it.