topic How soon can Best Buy fall off the reporting? in General Credit Topics

How soon can Best Buy fall off the reporting?

USSVOYAGER — Sun, 19 Sep 2010 00:25:42 GMT

I have two flaws on my FICO score report for Trans Union. The age of my credit ( only 5 years) and an over 30 day late pay from Best Buy. I know that the further we move along with time the less impact it has on my FICO score. The Best Buy shows 3 years and 10 months ago was that incident, how soon before I can stop seeing its negative effect on my score. Wanna buy my 1st home next year.

Re: How soon can Best Buy fall off the reporting?

MarineVietVet — Sun, 19 Sep 2010 00:58:38 GMT

@USSVOYAGER wrote:
I have two flaws on my FICO score report for Trans Union. The age of my credit ( only 5 years) and an over 30 day late pay from Best Buy. I know that the further we move along with time the less impact it has on my FICO score. The Best Buy shows 3 years and 10 months ago was that incident, how soon before I can stop seeing its negative effect on my score. Wanna buy my 1st home next year.

If it was a single 30 day late much of it's initial negative impact has gone away and will continue to affect you less and less. But the late will stay on your report for 7 years (if you're lucky it will drop off sooner) from the date of delinquency and can still be seen by creditors.

Depending on how the rest of your credit looks this 30 day late will not keep you from getting a mortgage loan IMO.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

Re: How soon can Best Buy fall off the reporting?

USSVOYAGER — Sun, 19 Sep 2010 02:58:10 GMT

Thank you, that answers my question and helps alot. Now for a rum and coke.