60 Day Late - Age Effect??

[Chazman]

Can anyone tell me the effect of a 60-day late hitting the three-year mark? I've seen the '30-day' comments about losing their punch after 2 yrs. Didn't know if 60-day'ers (have 1) have a definitive shelf life for significant impact.

Thanks much!

CC

[llecs]

Both 30 and 60 day lates tend to lose all of their bite after 2 yrs. Have you tried GWing it?

[Chazman]

Thanks IIecs, I tried GW'ing both about a year ago...BofA on the 30, and Chase on the 60. Both declined. Funny thing is I've received a $12.5k CL BofA/Amex since, and my WAMU Visa is now Chase. Perfect history on both with low useage and strong monthly pay downs. I PIF Chase every month, which resulted in a rate jack to 19% last month.

Original BofA CL was not renewed after heavy CLD 2 yrs ago, and Chase was closed by Chase. Paid all late fees and totals due to both at the time,

Think GW would work since I have peerfect history with both on the new accounts?

[n2win]

There is some interesting info re GW letters in this thread

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&message.id=67385&query.id=...

[Anonymous]

  I went into debt settlement several years ago.  It required me to let my accounts go and become delinquent.  I've been rebuilding since.  I just bought my FICO scores a couple minutes ago.   Said my last delinquent payment was 2 years and 9 months ago.   The page with the scale, weighing the good and bad still showed delinquent payments as hurting my score right now.   As I said the last one I had was nearly 3 years ago.   I'll be really happy if they drop off at the three year mark.

[RobertEG]

You will continue to get that useless message until the delinquencies drop from your credit report after 7 years from the date of each.

I say it is a useless message because all it tells you is that they are there, and now significant they are in your scoring.

In my modeling of FICO scoring, my estimate is that a prior 60-late is costing you around 10 points at three years.