How much are the lates on my CR hurting my score?

[reckedhim]

I have 6 lates on my credit report.  They are all from 2009.  There are 2 30 day lates, 2 60 day lates, and 2 90+ day lates.  They are the only negatives on my report.  I eventually caught up on the account and it was closed saying Pays account as agreed.

My current FICO scores are 726 EQ and 747 TU.  If I got rid of the lates, would it change my score by much?

Thanks.

[guiness56]

30 and 60 day lates are minor degrogatories and don't impact your score much after about 2 years.  The 90+ days are major derogatories, the same as a CO or collection and will impact your score for much, much longer.

Since your score is higer, they all have a bigger impact on your score, especially the 2 90+ days.  If you were to get them deleted I would say a significant increase.

[reckedhim]

Thanks for the response.  I thought maybe since they were 2.5-3 years old they wouldn't hurt my score as much.  I'm trying to get Chase to make a GW adjustment but haven't had any luck so far.

I'm planning on getting an auto loan someitme soon.  Would that hurt the rate that I'm given?  Would I get a higher rate than someone with the same type of scores but with a 0 late payment history?

[guiness56]

I would say probably not.  It is typically based on your score but on a manual review you could explain the late.

Also, if they use the Auto Enhanced FICO score, it is weighed more heavily on your past and present history with auto accounts.