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Say you have two accounts with late payments on them from the same relative time period (Summer 2014) and they are the same level of lateness (30, 60, 90, etc) and one of the accounts you paid off / closed paid in full in 2015 but the other is still open. Do the lates on the open account carry more weight / impact on your credit score since it's a current account, or do the lates on the closed account carry less impact since it was paid in full / closed or do they carry the same impact regardless since they are equally as old as one another? Thank you.
Same. Open vs Closed doesn't matter in this case, deliquency and date, and to some extent pattern on modern (FICO 8+) models.
Gotcha. Thank you. Another question... generally speaking, do people find it more difficult to remove baddies from a closed account as the lender doesn't really have any incentive to help you out at that point? I guess you could entice them by saying that you plan to apply for another line of credit with them very soon, but would feel much better and more confident in doing so if a goodwill adjustment could be made to the prior account that you paid in full?
@Anonymous wrote:Gotcha. Thank you. Another question... generally speaking, do people find it more difficult to remove baddies from a closed account as the lender doesn't really have any incentive to help you out at that point? I guess you could entice them by saying that you plan to apply for another line of credit with them very soon, but would feel much better and more confident in doing so if a goodwill adjustment could be made to the prior account that you paid in full?
Doubt they'd care enough honestly, the consumer pool is so large for most institutions if one person takes their business elsewhere from asking for something "unreasonable" that's not bad business. Lates are harder to deal with than collections, admittedly if you pay a collection you do lose leverage. Goodwill on lates is pretty much hit or miss based on lender and individual your communication winds up with.