Understanding FICO® Scoring

[awdsmama]

I have a few 60day lates in February 2011. 

I have heard that they will "hurt my FICO less" after a year. 

Just curious if February counts or if they won't be aged until March?     I know it's not a big difference, just that wonderful "i want it now" syndrome :-)

[llecs]

The damage would fade over time, but I don't think you'd see any stark changes at any anniversary date. Also depends on whether or not you have other baddies.

[awdsmama]

Thanks llecs  :-)

[JM-AM]

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llecs wrote:

The damage would fade over time, but I don't think you'd see any stark changes at any anniversary date. Also depends on whether or not you have other baddies.

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+1

As time goes on you will get score changes for no apparent reasons for a few points higher and some times lower. It is all factored into different reasons but no explainable reason at the time. If you have scorewatch for score changes you will see every now and then get a increase or decrease in you scores with no apparent reasons.

[tcbofade]

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awdsmama wrote:

I have a few 60day lates in February 2011. 

I have heard that they will "hurt my FICO less" after a year. 

Just curious if February counts or if they won't be aged until March?     I know it's not a big difference, just that wonderful "i want it now" syndrome :-)

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Oh boy, do I understand THAT!  I suffer from the same syndrome...lol...

I'm not sure about 60 day lates, but I have figured out that an inquiry won't "age off" until the first of the following month...

01 March in your example.

Keep us posted if you notice a difference!