Derogatory marks with high credit score

[Credit_hawk]

Yeah, you are definitely the exception to the rule as you had a perfect score before you took a hit. And I'm not surprised you don't have any issue with acquiring credit with the strong scores you still have.

---

@awp317 wrote:

I have a 30 day late payment from Diners club from last December and im still in the 780s. I was at 848 prior to the late though so I guess it just depends on how high up you are that how far you fall matters less when you get the baddie. Nobody has mentioned it to me in any of the new shopping I have done, and thats cars, mortgage, and credit cards. Never came up. It shows up as a "reason for your score" on all the fico sites though. 

---

[Anonymous]

I have TU score of 732 and EQ of 697. I was recently approved for AMEX Blue Cash preferred and Costco Citi cards. Both around $2000 limits. Recently got a CL increase from Capital 1 to $9K.  Keep in mind I have one deragatory satisfied judgement and one charge off settled from 3 years ago. So, you can still get good credit cards with different trade lines  but you won't get the high limits right away until you've proven your worth. 

[Anonymous]

It was Best Buy

[Anonymous]

"Until you've proven your worth" --- that's a relative term to the credit companies apparently....one other user on here said she had been rebuilding her credit for over a year and had one late payment and they canceled all her accounts. In...sane....

[Credit_hawk]

I'll try my best to answer your question directly, putting scores aside, if your last derog is 5 years out it's effect on your score is minimal. This is because the more time that passes and the closer it gets to 7 years old the less FICO weighs it. In fact, some have experienced minimal FICO gains when a derogatory finally falls off after 7 years because it had such a minute effect on their scoring in the last year or two that the "gain" was negligible. 

The only thing you can do besides asking the creditor/collection agency in good faith to remove it is keep plugging away and wait the last two years for it to fall off.

This is all assuming you have one derogatory and it's 5 years old. If you have several then it will have a more pronounced effect obviously. Also, assuming they are government backed loans they are something you don't want to default on. They will get their money lol.

[awp317]

---

@Credit_hawk wrote:

Yeah, you are definitely the exception to the rule as you had a perfect score before you took a hit. And I'm not surprised you don't have any issue with acquiring credit with the strong scores you still have.

---

@awp317 wrote:

I have a 30 day late payment from Diners club from last December and im still in the 780s. I was at 848 prior to the late though so I guess it just depends on how high up you are that how far you fall matters less when you get the baddie. Nobody has mentioned it to me in any of the new shopping I have done, and thats cars, mortgage, and credit cards. Never came up. It shows up as a "reason for your score" on all the fico sites though. 

---

---

Still an almost 70 point hit. Thankfully, my score was high enough to absorb the mistake. Hopefully, as it ages over time it will come back. Just an annoying freak mistake, I think it was over a 25 dollar payment too. Tried everything, disputing, good wills, calling and explaining, etc. But BMO harris is adamant on leaving it there. 

[Anonymous]

my sibling has a 741-747 fico 8 score across the boards with 11 late payments ranging from 30 to 90 days.  I printed out her report, IT WA HUGE.  around 130 pages printed out.  over 2800 on time payments with 11 late payments.  last late payment being 5 years ago.

[Anonymous]

I'll add another data point here, I've got 2 major delinquencies, a 90 day late on one account and a 120 day late on another account... one almost 2 years old the other over 3 years old.  My FICO 08's are 744/751/749.  My understanding from one of T.Thumb's tables posted in a thread somewhere is that someone in my position in the bucket I'm in can reach maximum FICO 08's of 759.  I'm creeping up on that, but have a good 5 years to go before I can exceed it which sort of sucks.

[iced]

---

@Anonymous wrote:

If someone has a credit score in the 750s or higher, a really good credit score, are you still likely to be turned down by lenders if you have derogatory marks from things that are unrelated to credit? For example, I was denied a credit card from a lender a few months back because of the derogatory marks on my credit report from student loans over 5 years ago. But I didn't think much of it because my credit score is still in the low 600s. So my question is: even after building my credit back up, which I'm in the process of doing, and I get my score up way high, will lenders be still likely to deny me funding because of the derogatory marks from my student loans (assuming they'll still be on there of course)? Or will the high credit score kind of off-set those marks? Thank you.

---

I have a 750+ score with 90-day lates on my report (from student loans no less). I haven't been turned down for a credit card or car loan, though I think my rates aren't the best and limits are low. 

[Anonymous]

Bofa us bank and fbno turned me down with a 722. Clean up your records as much as you can. Ive been on The soapbox multiple times discussing how bankruptcy is far superior in snatching up new high limit accounts vs my experience in paying off debts on my own, struggling subprime