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Slow Pay (no more than 60 days)

Frequent Contributor

Slow Pay (no more than 60 days)

How much does a slow pay, 60 days, hurt your score?

Starting Score: 573 (EX Faco) | Current Scores: EX(Fico) 674, EQ(Fico) 668, TU(Fico) 691
3 REPLIES
Super Contributor

Re: Slow Pay (no more than 60 days)


KellyP25721 wrote:

How much does a slow pay, 60 days, hurt your score?


Hurts a lot 

The older it gets the less of the hurt that being said a new one will sting a long time 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Moderator Emeritus

Re: Slow Pay (no more than 60 days)

30 and 60 day lates are minor derogs.  They hurt bad at first, but diminish fairly quickly.  They lose some sting after 6 months, quite a bit after a year.  After 2 years, they really don't factor in.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Highlighted
Frequent Contributor

Re: Slow Pay (no more than 60 days)

Thanks!  My slow pays are from 2009 & 2010.

Starting Score: 573 (EX Faco) | Current Scores: EX(Fico) 674, EQ(Fico) 668, TU(Fico) 691