Does FICO remember past the two year tradeline?

[Kiwill]

As i've said before, come the end of this year, Nov/Dec, my last two derogs are scheduled to drop of my CB files.  Once that is done, will FICO have any recollection of my having defaulted on any loans in the past or will I have a clean slate?  Chase limited my recent CLI of $200 because of these derogs and my high credit limit/balance ratios. 

[DI]

No! FICO suffers from permanent amnesia.  A cosigned repo never existed on my reports to FICO.  I'm grateful for that!

[Kiwill]

That's fantastic!!

[Anonymous]

FICO has no memory whatsoever.  FICO is a complex calculation of items in your currently reported credit, nothing more.  If it isn't reported, it doesn't factor into FICO.

[Anonymous]

Whoa, cool.  I assumed that because an item can remain on your CR for 7/7.5 years, it also is factored into your score that long.  Did I miss-read that?  Sooooo, if one has lates, etc passed the two year benchmark, is it even worth GWing?  Maybe yes for manual reads?  Thanks!

[marty56]

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@Anonymous wrote:

Whoa, cool.  I assumed that because an item can remain on your CR for 7/7.5 years, it also is factored into your score that long.  Did I miss-read that?  Sooooo, if one has lates, etc passed the two year benchmark, is it even worth GWing?  Maybe yes for manual reads?  Thanks!

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Lates always effect your CR for up to 7 years.  A 120 days late has a major impact on your score till it falls off in 7 years.  I am not  aware of a2 year benchmark that applies to lates.  Some CCCs want a 2 year clean history in order to grant credit and I am told that the effect of a 30 day late is less after 2 years. 

[bigtim]

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@Anonymous wrote:

Whoa, cool.  I assumed that because an item can remain on your CR for 7/7.5 years, it also is factored into your score that long.  Did I miss-read that?  Sooooo, if one has lates, etc passed the two year benchmark, is it even worth GWing?  Maybe yes for manual reads?  Thanks!

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As everyone has explained, if it is on your report it WILL BE CALCULATED in your FICO score - no matter how old it is. As derogatories age, they count less against you, but still count...