02-01-2011 11:13 AM
I am looking at a report with late payments, yet it is not listed as derogatory. I would have thought any late payments are a derogatory indicator. So this leads me to the question, "What exactly does derogatory mean and what are derogatory indicators?"
02-01-2011 12:27 PM - edited 02-01-2011 12:43 PM
|sears/citi||1/1997||$0||Pays account as agreed||No|
Sears/Citi Jan, 2011
No contact information provided by Equifax
|$0||Pays account as agreed|
Seven year payment history
|2 times(Aug 2008)|
|2 times(Sep 2008)|
|3 times(Jan 2008)|
|120+ days past due|
|The Worst Delinquency reports the worst missed payment status that has been documented on this account. Your FICO® score evaluates how recently that missed payment occurred and in general, the more recent, the more impact it has on your score. However, the fact that it occurred is still predictive of future payment risk and could be considered by your FICO® score.|
The original exquifax report shows 99 months reported with a streak of late payments ending in 2008.
02-02-2011 11:07 AM
"What exactly does derogatory mean and what are derogatory indicators?"
FICO scores a number of aspects within a given TL. In your example, the "Worst Delinquency" and the lates make this TL a derog. Now your FICO reports don't use the term "derogatory". Could you be referring to the line item on the Credit At-A-Glance page of "Accounts with negative indicators"? If so, that number would exclude this TL because of the "dispute" comment within the TL.