@Remedios wrote:
@satio wrote:
@Anonymous wrote:I did make the payment. Its only $2 charge, but it was over 30 day so amex report already to my credit report.
All I want to know if within 4 years, can i still have a chance to get over 800+. I am so close to 800+, that's pissed me off so much.
I certainly am not a FICO expert and many that I would classify as such will likely be along to chime in.
From my experiance I can say that 24 months is the key turning point from a 30 day late when it you seem to gain the majority of the points lost and it has much less of an impact to your score following that point in time.
There is a chart around here somewhere that shows the overall impact of 30 60 and 90+ day late impacts and the recovery time.
If this is only a single late though with AMEX and your payment history is exemplary with them I would call and request as a goodwill removal for this given your history as it was an oversight or some other unforeseen circumstance.
That chart is wrong and if you head over to scoring forum right now, there are at least 3 threads that show points gained after an isolated 30 day late aged off on a first few pages.
Effects do fade, but not all points are gained back prior to removal. Most report between 20 and 50 points. I guess how much is also profile dependent
You talking about his one @Remedios ? I saved it from @Anonymous who posted it years ago. OP has a thick file. Unlike mine and i saw those point gains from 1 30 day late in the other sub forum. Mine is 6.1 yrs so theres 20+ points waiting next July. Santander doesnt do GW's. I gave up 2 yrs ago.
According to myFICO Credit Education
- Isolated late payments
If a lender reports to the credit bureau that you were at least 30 days late with your payment, it will likely result in a loss of points within all FICO® Score versions. If the late payment is an isolated event and other accounts are in good standing, FICO Score 8 is more forgiving compared to previous FICO Score versions.
@AllZero wrote:
I don't recall the exact number but FICO 8 is capped around 780-790 with a well aged 30 day late. It was discussed in the understanding fico forum. I'm not sure how it will be for your mortgage FICO 2,4,5.
That late will sting for a long time. Best to try the Good Will saturation technique.
My Experian score is currently 788 and I have two 60 day lates set to drop off at the end of the year. The 60 day lates are on school loans (one on each). I would think two 30/60 day lates would affect score more than just one 30 day late so not sure about the score being capped at 790 for a well-aged 30 day late. I think after a period of time 30 and 60 day lates have the same effect on your score, but I have two not one and my score is almost already at 790. I just opened a new credit card that has not reported yet (to give me three credit cards). It will be interesting to see if this new card will boost me above 790. And yes, those two 60 day lates are my only deragatory marks on Experian. I will definitely be in the 800s with them when they fall off
@Anonymous wrote:My Experian score is currently 788 and I have two 60 day lates set to drop off at the end of the year. The 60 day lates are on school loans (one on each). I would think two 30/60 day lates would affect score more than just one 30 day late so not sure about the score being capped at 790 for a well-aged 30 day late. I think after a period of time 30 and 60 day lates have the same effect on your score, but I have two not one and my score is almost already at 790. I just opened a new credit card that has not reported yet (to give me three credit cards). It will be interesting to see if this new card will boost me above 790. And yes, those two 60 day lates are my only deragatory marks on Experian. I will definitely be in the 800s with them when they fall off
Please post up in the understanding Fico forum and share your data points. The members could use this information.
Glad to see you have great scores with those 60 day lates.
You might get small penalty for new account, resetting AoYA, inquiry. With 3 cards, it'll be easy to do AZEO if you're trying to squeeze out all the points.
For sure I can see you in the 800s. Early congratulations to you.
I think you can ask for Early Exclusion at the 3 month mark with Experian.
@AllZero wrote:
@Anonymous wrote:My Experian score is currently 788 and I have two 60 day lates set to drop off at the end of the year. The 60 day lates are on school loans (one on each). I would think two 30/60 day lates would affect score more than just one 30 day late so not sure about the score being capped at 790 for a well-aged 30 day late. I think after a period of time 30 and 60 day lates have the same effect on your score, but I have two not one and my score is almost already at 790. I just opened a new credit card that has not reported yet (to give me three credit cards). It will be interesting to see if this new card will boost me above 790. And yes, those two 60 day lates are my only deragatory marks on Experian. I will definitely be in the 800s with them when they fall off
Please post up in the understanding Fico forum and share your data points. The members could use this information.
Glad to see you have great scores with those 60 day lates.
You might get small penalty for new account, resetting AoYA, inquiry. With 3 cards, it'll be easy to do AZEO if you're trying to squeeze out all the points.
For sure I can see you in the 800s. Early congratulations to you.
I think you can ask for Early Exclusion at the 3 month mark with Experian.
I actually just checked my Experian FICO 8 score on the Experian website and it is now at 792 so it definitely DOES NOT cap at 790 for a well-aged 30 day late. I will definitely try the Early Exclusion next month for those two lates. And sure I will post about my Experian score in the understanding FICO scoring thread.
@AllZero wrote:
@Anonymous wrote:My Experian score is currently 788 and I have two 60 day lates set to drop off at the end of the year. The 60 day lates are on school loans (one on each). I would think two 30/60 day lates would affect score more than just one 30 day late so not sure about the score being capped at 790 for a well-aged 30 day late. I think after a period of time 30 and 60 day lates have the same effect on your score, but I have two not one and my score is almost already at 790. I just opened a new credit card that has not reported yet (to give me three credit cards). It will be interesting to see if this new card will boost me above 790. And yes, those two 60 day lates are my only deragatory marks on Experian. I will definitely be in the 800s with them when they fall off
Please post up in the understanding Fico forum and share your data points. The members could use this information.
Glad to see you have great scores with those 60 day lates.
You might get small penalty for new account, resetting AoYA, inquiry. With 3 cards, it'll be easy to do AZEO if you're trying to squeeze out all the points.
For sure I can see you in the 800s. Early congratulations to you.
I think you can ask for Early Exclusion at the 3 month mark with Experian.
@AllZeroyour real clsoe. EX-6 months TU-3 months EQ-1month give or take.
@FireMedic1 wrote:@AllZeroyour real clsoe. EX-6 months TU-3 months EQ-1month give or take.
Thanks for the correction FireMedic1. I thought it was TU @ 6 months and EX @ 3 months. EQ I wouldn't dare ask for EE, knowing they would fudge it up.
Maybe I need some ginkgo biloba.
Hmm. I'm not sure on the EX early exclusion. Since I've never done it myself. Data Points are showing 3 months?
@AllZero wrote:
@FireMedic1 wrote:@AllZeroyour real clsoe. EX-6 months TU-3 months EQ-1month give or take.
Thanks for the correction FireMedic1. I thought it was TU @ 6 months and EX @ 3 months. EQ I wouldn't dare ask for EE, knowing they would fudge it up.
Maybe I need some ginkgo biloba.
Yeah I got it back ___wards. Needed to check my many saved documents on my computer for times of brain farts. Switch EX/TU
