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Aging of Derogs?

Valued Contributor

Aging of Derogs?

Question that may or may not be able to answered completely.  I recently had a large jump (21 pts) and am trying to figure out what to attribute it to. 

 

My last derog was almost exactly 6 months prior to the jump (late CC payment) so I'm wondering if there is a precise aging process by which the severity of the derog ages.  The other possibility is that my untilization dropped below 10% around 60 days ago, and it just took a bit to catch up with Fico (Even though the actual account balances are reported on time each month).

 

With all that being said, IS there a set schedule by which derogs will make a quick decrease in severity, or is it the slow, small increases that I'm used to seeing, spread out over the couple of years that they affect the score? 

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 1 of 4
3 REPLIES
Moderator Emeritus

Re: Aging of Derogs?

The bump was probably from your util being lowered.   The affect of your lates just depend on what kind and when.  Was it a 30, 60, 90 or more?  30 day lates hammer you hard at first but lose steam fast, they start to diminish after a year and lose almost all their punch after 5.  The bigger ones tend to affect your score longer, 90s and above are major derogs, they will lose their affect over time too, but they still carry some weight until they fall off.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 4
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Valued Contributor

Re: Aging of Derogs?

I had a 30 from almost exactly 6 months ago.  In my brilliant credit history i have a handful of 30's a couple 60's. 

 

So you'd say it's more of a gradual month by month affect, rather than a "checkpoint" type thing where the severity lessens at say, 6,12,24 months

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 3 of 4
Moderator Emeritus

Re: Aging of Derogs?

Actually more of a checkpoint thing, after 2 years FICO doesn't put much weight at all into them.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 4 of 4