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After reviewing my ma's credit history on Credit Karma..
Even if she made 300 payments on time from today forth.. she could no fall into the A B category as showm in the image below
Posted with her discretion... she didn't mind ( I told her you guys have been very helpful )
So lets say she made 300 payments on time...
396/414 WOULD STILL LAND HER AT %95.65 PERCENT!?
Would closing a card help this?? Or, even closing one with many late payments??
Or is this just a lost hope?
Theres not much she can do besides pay the bills on time. I think late payments fall off after 10 yrs? Or is 7yrs? Closing the card wont make a difference.
Thanks for that!
@Skye12329 wrote:Theres not much she can do besides pay the bills on time. I think late payments fall off after 10 yrs? Or is 7yrs? Closing the card wont make a difference.
They stop making a difference after a while. I think it's more like 3 years.
@mikemsceo wrote:After reviewing my ma's credit history on Credit Karma..
Even if she made 300 payments on time from today forth.. she could no fall into the A B category as showm in the image below
Posted with her discretion... she didn't mind ( I told her you guys have been very helpful)
Would closing a card help this?? Or, even closing one with many late payments??
Or is this just a lost hope?
Closing the card(s) will actually harm her scores. It's better if she continues to pay on time. Over time, she'll get better scores and she'll be able to apply for more cards and eventually build her credit back up, if that's the desired outcome.
@Anonymous wrote:
@Skye12329 wrote:Theres not much she can do besides pay the bills on time. I think late payments fall off after 10 yrs? Or is 7yrs? Closing the card wont make a difference.
They stop making a difference after a while. I think it's more like 3 years.
As in score wise? Because i think late payments fall off the report completly after 7 years. My BF had 1 missed payment on a student loan and it finally fell off after 7 years.
@Anonymous wrote:
@Skye12329 wrote:Theres not much she can do besides pay the bills on time. I think late payments fall off after 10 yrs? Or is 7yrs? Closing the card wont make a difference.
They stop making a difference after a while. I think it's more like 3 years.
I wish that were true. I have a few from the summer of 2008 that still come up as the top reason for my score. Argh.
Scorewise, yes.
Hmm...
Every 7 years.. or 7 years from the date of.