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Impact of Time Passage on FICO Score

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Alberio
Contributor

Impact of Time Passage on FICO Score

Hi Everyone,

 

I was just wondering what the general impact of the passage of time is on FICO scores where there are delinquencies etc. in the past.  I know the basics that more time between last delinquency the better and that in general most will fall off altogether in 7 years, but are there triggers/interim goal lines? 

 

For example, when myFICO is comparing me to my peers on deliquencies, they say something like "high achievers don't have any delinquencies, or if they do, they are more than 4 years old."  So is four years a pivotal moment?  I have a delinguency dating to July 2010.  Am I likely to see a score increase in July 2014 because it will have been four years? 

 

My other delinquency (actually two from the same slow pay) dates from Feb 2013.  Is a year a milestone of any sort - score-wise?  Just trying to estimate when I can expect to start to see some score increases just because of the passage of time.

 

TIA!


Starting Score: 644 (EQ) 646 (EX) 670 (TU) as of 11/2013
Current Score: 732 (EQ myFico) 740 (EX myFico) 740 (TU myFICO) as of 8-25-14
Lender Pulled Scores (3-19-14): 709(EX)/700(TU)/670(EQ)
Goal Score: 710 (Made it!!)


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llecs
Moderator Emeritus

Re: Impact of Time Passage on FICO Score

It's a YMMV. It is different for everyone. Assuming you don't have any future baddies and everything else is clean and constant on your CR like util, then you'll see gradual score improvements. They won't necessarily fall on an exact year, but any improvements from the aging of that baddie can come at any time. It also depends on how it reports and whether or not it is updating.

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