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"On Report Till" - Experian report

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Frequent Contributor

"On Report Till" - Experian report

Hi there - I have a 7 year old Cap One card that has been closed and the late payments on it say that they are "on report till March 2020".

What does this mean? And what action should I take come March? Do these late payments and account automatically fall off? Or do I get this deleted?

Will they stop affecting me starting that date?
2 REPLIES 2
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Valued Contributor

Re: "On Report Till" - Experian report

If the account was closed as 'current/in good standing' but with a few late payment notations in the history, then just those late payment notations will be removed come March 2020 -- the account will remain with a clean history until it is removed in its entirety (accounts closed in good standing remain on reports for up to 10 years after the closing date).  

 

If the account was closed and not current/charge-off status, then the entire account will be removed when it reaches its 7 year mark. 

 

There is no action for you to take -- just wait it out, it'll fall off automatically and your score will adjust accordingly.

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 05/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 04/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.1 years not incl. AU / 3.5 years incl. AU
My AoOA: 7.3 years not incl. AU / 9.3 years incl. AU
Inquiries: EX 1/6 | 1/12 ✦ EQ 1/6 | 1/12 ✦ TU 1/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 3
Highlighted
Valued Contributor

Re: "On Report Till" - Experian report

And just to add a little info to how this works --   late payment notation removals vary by bureau.   Experian will remove the entire string of lates (for ex., if you have a string of 30, 60, 90 day lates, all will be removed at the same time in March 2020);  Equifax and Transunion will remove each notation indivdually, as it reaches its 7 year mark (so 30-day will drop off in March, 60 day in April, 90 day in May). 

 

Also, Experian apparently deletes these notations 2 months early; Equifax deletes 3 months early, and Transunion deletes 1 month early -- so they will not drop from each report at the same time.    Below link is a thread on this topic to give you an idea of how it may go... this thread had been started and updated by a poster as their reports were undergoing this process: 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Aging-Delinquencies/m-p/5829291

 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 05/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 04/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.1 years not incl. AU / 3.5 years incl. AU
My AoOA: 7.3 years not incl. AU / 9.3 years incl. AU
Inquiries: EX 1/6 | 1/12 ✦ EQ 1/6 | 1/12 ✦ TU 1/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 3 of 3
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