Baddie App Cold Feet

[nj23]

Hello Again

First off, let me say that I have come to value the advice given on these forums, and appreciate people's experience and responses - they truly help.  

Second, as I have stated on another thread, I plan on going on an App Spree soon, but after doing a bit more reading on these forums and such, I am getting a bit nervous about the old baddies that appear on my reports. 

I have a Closed - Paid Auto Loan (closed August 2007) that (depending on the bureau) has a 30, 60, and 90 day late, a 30 and 60 day late, and "not more than 4 late payments" status.  The most recent late on any was August  2007 (so they should all be dropping by August).  Given their age, I'm wondering if them dropping off will make any significant difference.  My AAoA is currently 7 years. Inquiries clear.  I am eager to get these apps done, but if these soon-to-expire baddies might cause me to burn a hard pull for nothing - maybe I should wait.  Has anyone had a soon-to-drop baddie cause a denial?  

Thanks 

[gdale6]

It is highly doubtful the lates will cause denial now as they are so old, the 90 day late(s) will affect your FICO all 7 years but once they are gone yuo should get a few points back. I would go ahead and app for whatever you want, if you start getting denials STOP and re-group. Good luck

[coldnmn]

You should get approved for cards. By waiting until the baddies fall of you may get larger CL and lower APR.

[Kenny]

Good choice!

[One7]

I GW'd a baddie off my report once and had it taken off, unfortunately it was my oldest account and believe it or not my scores actually dropped 20 pts!!! They eventually raised back up a couple months later so it was definitely worth it.... eventually.  Good luck

[nj23]

UPDATE 4/16

I'm still questioning whether I should hold off til August, even after listening to everyone's advice.  I really am interested in high limits, although given my only recent credit improvement, I am not realistically expecting large limits.  To the point that waiting for my 90 day late to drop in August/September might give me higher initial CL and APR, I could care less about the APR, but the CL is kind of a sticking point.  What kind of difference do you think we are talking?  Difference between $500 and 2500?  My annual income is 55k, so I wouldn't think they'd give me some outrageous starting limit either way (5 figures), but high limits are one of my primary goals.  My ultimate goal is to just get amazing credit (800+), and considering my lack of debt, my credit scores seem malleable than those that have five to six figures of CC debt to crawl out from under.