Low On-Time Payment Percentage

Anonymous · ‎04-26-2018

Hello! I am 19 years old, and in February of 2017, I had just turned 18 and was serious about building credit. I took out a secured loan, and a secured credit card, and paid the loan payment every month. And i paid the credit card off fully every month. After a couple months of this, I took out a discover card.
I lost my job in November of 2017 and charged close to $500 on this card. I missed 1 payment (30 days late) but I caught up the next month and got it paid off within 2 months.
This missed payment dropped my score by over 110 points. I am showing now a on time payment percentage of 90%, which is extremely low. It is showing that I have made 9 out of 10 payments on time.
So my question is, why is my payment percentage only 90%, 9/10, when i made all of the payments on the secured loan, secured credit card, plus I’ve made monthly payments on a truck payment since March 2017 also?

Anonymous · ‎04-26-2018

100% means 100%, meaning you NEVER missed a payment. Since you missed that payment, that's counting against you.

CH-7-Mission-Accomplished · ‎04-26-2018

I'm not sure why it's displaying that percentage of on-time payments but you should be aware that "percent of ontime payments" is not a scoring factor for FICO. Having a recent 30 day late typically dings your FICO scores about 100 points. You could have have had 1000 on-time payments and a percentage of 99.999% and you would get the same FICO score ding. The percentage of on time payments is completely irrelevant. Otherwise you could game the system by opening up 10s or 100s of cards and thereby increase your percentage of ontime payments.

Anonymous · ‎04-26-2018

Yes, I am aware that it is going to count against me. But I just added up all of my payments, and I have made 44 payments in total (Credit Cards, Secured Loan, Auto Loan) and only 10 of those are showing. I should have 43/44 payments on time, instead of 9/10. This would bring my percentage up to 97.7% instead of the 90% that it is at right now. Why are the payments from the Loans, and the other credit card not showing up?

Anonymous · ‎04-26-2018

Ah okay, so it really doesn't matter as long as I don't have any more lates. I am planning on trying the saturation technique and trying to get a goodwill deletion. A lot of people say they don't have success with Discover on these, but I have nothing to lose by trying it. Thanks for the replies!

Anonymous · ‎04-26-2018

@AnonymousYes, I am aware that it is going to count against me. But I just added up all of my payments, and I have made 44 payments in total (Credit Cards, Secured Loan, Auto Loan) and only 10 of those are showing. I should have 43/44 payments on time, instead of 9/10. This would bring my percentage up to 97.7% instead of the 90% that it is at right now. Why are the payments from the Loans, and the other credit card not showing up?

It sounds like you're using a tool such as Credit Karma to see these payment percentage amounts. Please ignore these fluff charts, as they are irrelevant to FICO scoring. CK is great for reports, but everything else like their scores and pretty charts/graphs are junk.

As stated above, there are two on-time payment percentages that matter. 1 is 100%. The other is everything below 100%. This is the difference between a clean and dirty file. You want to be clean, 100% on time payments. Your idea to take on GW saturation is a great one and should definitely help you get rid of that lone negative mark. Your scores will immediately rebound once successful.