Re: Credit Seminar - Interestin
[ Edited ]
g Informatio n and Question(s )
08-13-2011 09:03 AM - edited 08-13-2011 09:52 AM
What he said apparently was a reminder that the cessation of derogs from your CR does not mean that other information on the account ceases to affect your credit scoring.
That is correct. The aging of a delinquency or derog from inclusion in your CR, and thus in credit scoring, does not remove any other information on the account, such as its age, or payment history/derogs related to other reported items of information.
Information they receive from your CR can theoretically extend back to day one on any account, except for specific items of information that have reached a certain CR exclusion date.
I am confused... Let's use this example... I have a credit card on which I have not been late in over 6 years... but, I have some 60 and 90 day lates on that card in 2002 & 2003... Are you saying that because the account is still open, creditors can access that old information?
I also have 2 30-day lates in 2004 on that card that I expected to drop off soon.