Frequent Contributor
Posts: 380
Registered: ‎02-06-2009

The effect of 30-day lates on FICO

My EX report from lists one CC account as a Potentially Negative Item.


On this CC are three 30-day lates:

June, 2008

October, 2006

March, 2006


From my understanding, lates will continue to report on a CR for seven years, but their effect on FICO scores diminishes beyond two years.

Using the seven year timeline, two lates will fall off in 2013 and the last one will fall off in 2015.


My question: Will my EX FICO score increase as the lates begin to fall off the seven year timeline? If so, I should experience an increase in March, 2013, another rise in October, 2013 and a final jump in June, 2015. Correct?

11/02/2012 Peak - EQ 790 (ScoreWatch EQ FICO)
12/08/2014 Current - TU 823 (Walmart MasterCard TU FICO 08 Classic)
GOAL - 800! - App free since 09/07/2014
Valued Contributor
Posts: 1,216
Registered: ‎05-10-2012

Re: The effect of 30-day lates on FICO

According to Robert, and another source article I read, the presence of minor derogs do not bar you from the "prime" bucket, and so your ceiling is not limited purely by having them.  I do think that there is a theory that their weight is around 5% of their original deduction past the 2 years, and so in this theory you may gain a couple of points.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
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