Late impact decay

[Anonymous]

Just to note that my most recent late turned 12 months old, but there is no change to my score. So, you should not necessarily expect a score increase exactly at the 1 year mark.

[llecs]

Any changes would be slow and gradual over time as opposed to bumps on milestones. I've never received a score bump when my lates hit an age, but I also had old ones reporting when I started here. How bad is the late?

[Anonymous]

I take that back. I just got a score alert that increased my score by 11 points. Earlier today, I got an alert saying there were no changes this week. Nothing indeed changed in my report today or in the past week.

The increase could be because of one of two reasons: (1) new credit impact decay, or (2) late impact decay. I opened an account in September'10. My most recent late (by 30 days) was in Jan'10. I suspect that it is the former as 11 points is exactly what I lost for opening the new account. I also feel like the score increase occured last week exactly on Jan 1, but myFICO was just late in noticing it.

Btw, one thing that does change sharply is the impact of a 60-day late. It goes from a major to a minor derog exactly at the two year mark and in my case contributed to a significant score increase. Others on this forum have reported the same.