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How long will this baddie report? Cap One GW

Valued Member

How long will this baddie report? Cap One GW

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!

 

 

 

 

 

 

04/20/17 - Fico Score 8: EQ 695, TU 689, EX 728; Mortgage: EQ 731, TU 740, EX 815 [Starting Point on MyFico]
12/19/17 - Fico Score 8: EQ 807, TU 790, EX 783; Mortgage: EQ 812, TU 793, EX 822 [Latest MyFico 3B]
Message 1 of 10
9 REPLIES
Community Leader
Valued Contributor

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.
Message 2 of 10
Senior Contributor

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.

NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20500- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 1/12/18** EX- 751(15) TU- 761(14) EQ- 732(15) UTI 9%- Clean Files
Message 3 of 10
Valued Member

Re: How long will this baddie report?

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!

04/20/17 - Fico Score 8: EQ 695, TU 689, EX 728; Mortgage: EQ 731, TU 740, EX 815 [Starting Point on MyFico]
12/19/17 - Fico Score 8: EQ 807, TU 790, EX 783; Mortgage: EQ 812, TU 793, EX 822 [Latest MyFico 3B]
Message 4 of 10
Community Leader
Legendary Contributor

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 by 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.

Message 5 of 10
Valued Member

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


RobertEG wrote:

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.


Thank you RobertEG! Your explanation was very helpful.

 

I am so pleased -- I just heard back from Brianna in the Capital One Executive Office that they will no longer be reporting the delinquencies from Aug-Nov of 2011 to the credit bureaus, and she gave me an AUD number to confirm.

 

She said it would take up to 60 days for the accounts to update with the bureaus. I should be able to access my next Credit Karma reports tonight or tomorrow, and my next 3B Premier report via myFICO on 5/20 or 5/21, so hopefully they reflect sooner than later. 

 

This was my only derogatory account so once the lates are truly gone I can focus on improving my scores through good old fashioned paying on time and maintaining low utilization.

 

Sending good vibes out there to anyone else who is looking for goodwill from Capital One or any other creditor. It is possible!

04/20/17 - Fico Score 8: EQ 695, TU 689, EX 728; Mortgage: EQ 731, TU 740, EX 815 [Starting Point on MyFico]
12/19/17 - Fico Score 8: EQ 807, TU 790, EX 783; Mortgage: EQ 812, TU 793, EX 822 [Latest MyFico 3B]
Message 6 of 10
Community Leader
Valued Contributor

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

Congrats on your GW success!  My brother in law is waiting to hear back from his GW attempt.  Hopefully your good vibes will help!



EQ 679 EXP 700 TU 763
Message 7 of 10
Valued Member

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


medicgrrl wrote:

Congrats on your GW success!  My brother in law is waiting to hear back from his GW attempt.  Hopefully your good vibes will help!


I hope your BIL is successful in securing goodwill, medicgrrl.

 

Just saw my Equifax FICO 8 score jump 43 points with the removal of those late payments. From 695 to 738. Waiting for it to happen on Trans Union now too. Time for a happy dance!

04/20/17 - Fico Score 8: EQ 695, TU 689, EX 728; Mortgage: EQ 731, TU 740, EX 815 [Starting Point on MyFico]
12/19/17 - Fico Score 8: EQ 807, TU 790, EX 783; Mortgage: EQ 812, TU 793, EX 822 [Latest MyFico 3B]
Message 8 of 10
Established Contributor

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

Congratulations kimbersleep on your CapOne GW success! 😊
Message 9 of 10
Established Member

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

Wow! That's some good news!

Starting 04/24/17 FICO 8 EQ 580, TU 582, EX 604
Current 06/06/17 FICO 8 EQ 635, TU 640, EX 711
Goal: 720 by August 2017.
AMEX DELTA $1k
Message 10 of 10