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what is worse? Collection or 120 Plus day lates

Valued Contributor

what is worse? Collection or 120 Plus day lates

So what is worse having an account with multiple 120 day lates or having it say collection every month? I am asking because I am almost done with my rehab for my student loans and for every month sense last october usa funds has been reporting collection or "C" on my credit report. This entire TL will get deleted this october. Sense it is going to get deleted will i get more or less of a boost in my score sense it says collection. My other baddies or just ten or so lates from my sallie mae student loan account.

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
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2 REPLIES
Moderator Emeritus

Re: what is worse? Collection or 120 Plus day lates

Both are generally equally bad. It also depends on when the late occured, whether or not the disappearing OC TL helped or hurt your length of history/AAoA, and when the status of those baddies last updated.

Message 2 of 3
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Super Contributor

Re: what is worse? Collection or 120 Plus day lates

I had a 120 day late on my CR and I was able to get my FICO score above 760, but I have a long credit history.  IMHO the collection is worse.

12/08/2017 FICO: EQ 843 TU 849 EX 844
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