Credit Cards Center Credit cards from our partners
Reply
New Member
Posts: 2
Registered: ‎07-04-2007
0

How long will this baddie report? Cap One GW

[ Edited ]

Hi, new here. Been lurking for some time.

 

I have one baddie that appears only on EQ & TU: an old Capital One credit card. The worst delinquency was 120 days past due, which occurred over 5 years ago. EQ shows 1-30 day late, 1-60 day late, 3-90 day lates. TU shows only 1-90 day late. The account shows Closed by credit grantor on 11/15/2011. The "Last Activity" date is listed as 07/01/2010, "Last Updated" date is listed as 01/01/2016. Balance is $0 and status is listed as Paid or Paying as Agreed. The account was opened in 2004.

 

I'm wondering how long it will report, and whether it is worth my time to send GW letters using the Saturation method, or just let it go. I'd like to increase my scores as we are actively looking for a house and I expect a mortgage application in the foreseeable future.

 

If I do send GW letters, what should I focus on? Removing the lates or asking them to stop reporting altogether?

 

I do not have another Capital One product at this time.

 

Thanks for your advice!

 

 

 

 

 

 

Fico Score 8:
04/20/17 - EQ 695, TU 689, EX 728
Shooting for 750!
Valued Contributor
Posts: 1,348
Registered: ‎08-25-2016

Re: How long will this baddie report?

Was the account ever charged off? If so, it'll fall off 7.5 years from the DoFD (Date of First Delinquency), which isn't listed. If it wasn't charged off, then the lates will fall off 7 years from when they occurred.
Highlighted
Senior Contributor
Posts: 3,455
Registered: ‎11-11-2015
0

Re: How long will this baddie report?


kimbersleep wrote:

Hi, new here. Been lurking for some time.

 

I have one baddie that appears only on EQ & TU: an old Capital One credit card. The worst delinquency was 120 days past due, which occurred over 5 years ago. EQ shows 1-30 day late, 1-60 day late, 3-90 day lates. TU shows only 1-90 day late. The account shows Closed by credit grantor on 11/15/2011. The "Last Activity" date is listed as 07/01/2010, "Last Updated" date is listed as 01/01/2016. Balance is $0 and status is listed as Paid or Paying as Agreed. The account was opened in 2004.

 

I'm wondering how long it will report, and whether it is worth my time to send GW letters using the Saturation method, or just let it go. I'd like to increase my scores as we are actively looking for a house and I expect a mortgage application in the foreseeable future.

 

If I do send GW letters, what should I focus on? Removing the lates or asking them to stop reporting altogether?

 

I do not have another Capital One product at this time.

 

Thanks for your advice!

 

 

 

 

 

 


Each late will fall off once it hits the 7 year mark.

AMEX BCE $9000- DCU Platinum $10000- Chase FU $11700- AMEX EDP $15000- NFCU CLOC $15000- Penfed Promise $25000- Cap1 Premier Dining $25000- NFCU Go Rewards $27100- Venture $27750 **As of 4/22/17** EX- 746(21) TU- 752(17) EQ- 739(12) UTI 3%- Clean Files-
New Member
Posts: 2
Registered: ‎07-04-2007
0

Re: How long will this baddie report?

[ Edited ]

Thank you both for the responses.

I decided to send a GW letter to the Capital One CEO on Friday last week asking them to stop reporting the account altogether or to at least remove the lates from reporting.

Received a phone call today from Briana in the executive office. She's having her research team look into it and will call within 3-5 days with further information.

As my only negative account this would be a big deal if they act in either way I requested. Otherwise it won't be til the last 6 months of 2018 when the lates would fall off on their own.

Fingers crossed! My account wasn't even Cap One to begin with (pretty sure it was Orchard Bank/HSBC) so maybe they'll be kind.

Positive vibes going out to everyone hoping to see goodwill of their own this week!

Fico Score 8:
04/20/17 - EQ 695, TU 689, EX 728
Shooting for 750!
Community Leader
Epic Contributor
Posts: 28,274
Registered: ‎03-19-2007
0

Re: How long will this baddie report? Cap One GW

The issue is not that they cease reporting.  They likely ceased reporting when the debt was paid.

The issue is when the CRA will exclude.

 

Credit report exclusion of derogs is done entirely by the CRAs, and not be any reporting by the creditor or debt collector that the exclusion date has been reached.

The CRA monitors the relevant dates of derogs (such as mon/yr of a monthly delinquency, and DOFD for a collection or charge-off) and ceases to include the derog in your credit report after it reaches its exclusion date.

 

GW letters are sent only to the party who reported a derog, and request that they delete the reported derog(s).

Early exclusion requests are sent only to the CRA, and request that they exclude a bit earlier than their normal exclusion date.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.