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Hello everyone, quick question for you. I have 2 paid COs from 2008 reporting on my CR, and unfortunately 1 30-day late on my CapOne card on 4/2011. I've been trying to GW those baddies, with no luck so far. I thought having any CO really kills your credit score, but was recently told that because it's 5 years old, it isn't affecting my score as much as the 30-day from 2011. Can anyone provide any input on this? Thanks!!
Even though a paid CO is better than an unpaid one, the actual CO is a major derogatory. Its impact does fade over time but will affect your score until it comes off.
A single 30 day late, when initially hits, may drop your score 50 points but, with on time payments you can quickly recover. Its impact usually starts to fade in about 2 years but the late will remain for 7.
However, I would perfer a clean report. Just keep sending GWs. Find someone else in the company to send them to