Credit Cards Center Credit cards from our partners
Reply
Highlighted
New Member
Posts: 3
Registered: ‎03-31-2009
0

Two quick questions

[ Edited ]

Two quick questions.

1) Do negative items remain on TransUnion reports beyond 48 months?  They only show 48 months of history on the reports I receive from them and I read somewhere that negative items only affect one's score with TU over a 48-month period.  Is that true or does it affect the score for seven years but we only see it for 48 months? 
 

2) Can a 90-day lateness also be counted as a 60-day and a 30-day late item?  I have one account that is noted as three items: a 30, 60 and 90 day lateness.

 

Thanks.

 

TU-729;  EQ 713; EXP-Who the hell knows. 




edit: This post was split off of TNWM's "Interpreting Your FICO Score" to form a new thread.
Message Edited by haulingthescoreup on 09-01-2009 06:54 PM
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
0

Re: Two quick questions

[ Edited ]
1) I've noticed that TU is only showing the most recent 48 months, even on my so-called full report directly from them. I also don't seem to be getting dinged for lates older than this. I just noticed this beginning around 2 months ago, and I still don't know what's up.

I'll bet you a nickel, though, that lenders still see all seven years' worth of negatives, even if they seem to no longer be counted in our FICO scores.

eta: oops:

2) Most 90 days occur before first you were 30 days late, then you were 60 days late, and finally you were 90 days late before you caught up. Only the 90 is scored, though.

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.
Message Edited by haulingthescoreup on 09-01-2009 07:05 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
Posts: 220
Registered: ‎05-11-2009
0

Re: Two quick questions


haulingthescoreup wrote:

I'll bet you a nickel, though, that lenders still see all seven years' worth of negatives, even if they seem to no longer be counted in our FICO scores.


HTSU, you inspired me to look at a recently pulled lender score.  Was furnished by Credo and my broker provided ALL the pages.  They only show 24 mos. of activity with this EXCEPTION - DEROGS! 

 

Sure 'nuff, my shiny CR is tainted by that dang 4 yr old 30 day!  Soooooo......  if you get any takers on the bet, you could make a (very small) fortune!   Smiley Wink

 

D-R

Valued Contributor
Posts: 1,993
Registered: ‎04-07-2009
0

Re: Two quick questions

 You most recent 48 months of history I presume you mean the payment histroy on trade line.  That is fairly standard with Trans Union I think they can report a longer history. The 30, 60, 90 day late counters are for 7 years. You should be able to count the lates dates in the payment pattern can come up with the same number that is in 30 60 90 late count. The only exception would be a lte that happend over 4 years ago.  The lenders sees same lates that you see when you pull your credit report.

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
Valued Contributor
Posts: 1,993
Registered: ‎04-07-2009
0

Re: Two quick questions

Most credit reports provided for lenders usually show a 24month payment histroy can be longer. The report can show any lates that occured in that last seven years if provided by the credit bureau. The credit report mostly is a three bureau credit report with data the reported from each bureau is blended together to report a single trade line. The trade line may be compsed data provided from all three bureaus.
Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
0

Re: Two quick questions

But this is happening on the scoring side, as well.

I couldn't figure why my TU FICO kept creeping up, until I noticed that older lates were disappearing. The count of lates on the myFICO scoring report dropped as each one went over 4 years old. Very odd!

Now, of course, WFNNB took them all off, bless their hearts.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
Posts: 1,993
Registered: ‎04-07-2009
0

Re: Two quick questions

[ Edited ]

The FICO score is derived from the credit data that is given to state the obvious. The better the credit history the better the score which match what you saw with TU.  My only thought is,  it is how the creditor was reporting your credit history on your account to Trans Union. What I  said on my previous post is how it is supposed to be in theory.

Message Edited by AndySoCal on 09-03-2009 06:54 PM
Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.