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11 Months Time Since Most Recent Late Payment

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Anonymous
Not applicable

11 Months Time Since Most Recent Late Payment

((((11 Months Time Since Most Recent Late Payment))))

 

While I know the further away the better and having none is ideal. But when is it ok to apply for new credit once all collections and charge offs and past debt is paid off and that (11) month is at X month?

 

I guess my question should be worded, for my sitution X should = how many month?

Message 1 of 7
6 REPLIES 6
AllZero
Mega Contributor

Re: 11 Months Time Since Most Recent Late Payment


@Anonymous wrote:

((((11 Months Time Since Most Recent Late Payment))))

 

While I know the further away the better and having none is ideal. But when is it ok to apply for new credit once all collections and charge offs and past debt is paid off and that (11) month is at X month?

 

I guess my question should be worded, for my sitution X should = how many month?


24 months since last delinquency would be safe. You may still incur the full weight of the late penalty at 11 months. However, it's your call when you see your scores recover and when you need credit.

Message 2 of 7
Anonymous
Not applicable

Re: 11 Months Time Since Most Recent Late Payment

Okay, I'm still a bit away from where I want to be before I apply for any new apps so that will age more thankfully. thanks for that info.

Message 3 of 7
AllZero
Mega Contributor

Re: 11 Months Time Since Most Recent Late Payment

You're welcome. Good luck on your journey.

Message 4 of 7
Anonymous
Not applicable

Re: 11 Months Time Since Most Recent Late Payment

I totally agree 24 months.
Message 5 of 7
donkort
Valued Contributor

Re: 11 Months Time Since Most Recent Late Payment

Time flies!

 

I had 10 (and more) years of virtually maxed out cards until I finally paid off my credit card debt about 2 weeks ago.  My oldest card was from mid 2007.

 

You'll get to the 24-month point very soon!

FICO 8: EQ 810; TU 816; EX 822 as of 7/5/2022
Message 6 of 7
Brian_Earl_Spilner
Credit Mentor

Re: 11 Months Time Since Most Recent Late Payment

Well, it really depends on what kind of lates. If they're 30 day lates, the weight will lessen the older they get, so 24 months would be good. If they were 90-120 day lates, the weight stays for almost the entire 7 years. In that case, you may need to wait at least 36 months depending on what card and/or limit you're looking for 

    
Message 7 of 7
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