topic Re: Score bump anticipation when 30 day late turns 24 months old in Understanding FICO® Scoring

Score bump anticipation when 30 day late turns 24 months old

Anonymous — Thu, 12 Apr 2018 21:29:11 GMT

My profile is clean, 700-750 scores, 14 open accounts (2 auto and 12 are revolving) and I'm at 1% util. Oldest Account 3.4yrs, AAOA 17 months. I lost track, screwed up 23 months ago and let a car payment go 30 days late. Wondering what kind of score bump I might expect next month when it's aged 24.. Anyone experience a generic bump at 24 months?

Re: Score bump anticipation when 30 day late turns 24 months old

FirstAscent — Fri, 13 Apr 2018 05:33:15 GMT

I don’t have experience with this but I’d imagine a small increase if any. It seems that the 30 day late has less and less effect over time and no effect after 2 years. So even at 23 months it probably already has very little effect.

P.s. I’m solely basing this info on the tremendous info I’ve personally read and researched on this forum =)

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Fri, 13 Apr 2018 07:53:59 GMT

OP, first thing it's important to understand that the term "clean" refers to a credit report that has no negative items. Since you have a 30 day late payment, you're file wouldn't be considered "clean" using that definition. That being said, FICO scoring in terms of score card assignment may overlook an isolated 30 day late payment and put you into a clean bucket rather than a dirty one.

As for score gain potential, do you know what your scores were before the 30 day late hit and what they were right after it hit? I've never tested a lone 30 day late payment hitting the 2 year mark, but I'd guess you could see 10-20 points or so, just shooting from the hip.

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Fri, 13 Apr 2018 16:57:35 GMT

Thanks for the input Guys.

It was early in my build, I had limited trades and I believe my scores were in the 600-630 range. I remember taking a big hit. Around 60 points I believe..

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Sat, 14 Apr 2018 04:07:35 GMT

How many of those 60 points do you feel you got back in the first year? If it was 40 (for example) you may be able to sort of conclude a possible gain of roughly 20 when it hits the 2 year mark. Again, very difficult to say, but I'm just trying to give you an angle to look at it from.

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Tue, 01 May 2018 21:51:13 GMT

My ficos haven’t updated yet but if it’s any indication my TU fako score jumped 19 this morning after the 30 turned 24 months..

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Wed, 02 May 2018 00:20:10 GMT

@AnonymousMy ficos haven’t updated yet but if it’s any indication my TU fako score jumped 19 this morning after the 30 turned 24 months..

The two different scoring models are not related, so I'd ignore the non-FICO scores if I were you. While you may see a similar reaction with your FICO scores, it's also possible that you'll see something completely different.

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Thu, 03 May 2018 13:20:17 GMT

My scores updated and there was zero change. I wasn't hoping for a huge bump but I did expect something..

Re: Score bump anticipation when 30 day late turns 24 months old

Anonymous — Sat, 05 May 2018 00:01:54 GMT

@Anonymous wrote:
My scores updated and there was zero change. I wasn't hoping for a huge bump but I did expect something..

If you see anything, it will be on your 25th month.