secured card question

[Anonymous]

Hello everyone! New to the forum.  Wish I had dcovered this place years ago. LOL!  Anyways, I had 3 student loans that I missed payments on in April of 2003.  I was late for 4 months and then got back on track.  My question is will the baddies be removed 7 years from the first missed payment or last one?  The accounts were never charged off. 

Thank you!

[Anonymous]

Didn't even get to my secured card question!  Well, I have paid off on two defaulted credit cards and am waiting for that to fall off and in the meantime am contemplating a secured card.  Will that help with my utilization?

[llecs]

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Fixnfico wrote:

Hello everyone! New to the forum.  Wish I had dcovered this place years ago. LOL!  Anyways, I had 3 student loans that I missed payments on in April of 2003.  I was late for 4 months and then got back on track.  My question is will the baddies be removed 7 years from the first missed payment or last one?  The accounts were never charged off. 

Thank you!

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The lates will fall off 7 yrs from that event, so 4/2010 the lates whould start falling off.

[llecs]

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Fixnfico wrote:
Didn't even get to my secured card question!  Well, I have paid off on two defaulted credit cards and am waiting for that to fall off and in the meantime am contemplating a secured card.  Will that help with my utilization?

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A secured CC is a step in the right direction. If you have no open CCs, you'll see a large bump in your two FICO scores once that reports.

[Anonymous]

Thank you for the helpful information!