@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:I forgot I made a new thread for this so I posted update in my rebuilding thread. Basically, when the two 120 day lates fell off (one from each card) so I was left with only one 120 day late, my EQ score bumped up a whole 5 points! YAY! So, yes even one 120 day late really hurts really hurts your score. My EQ score is about 60 to 70 points lower than both EX and TU. So avoid getting 120 day lates at all costs. Even one will MAJORLY depress your score for years. When the last one drops which should be any day now, I'll let you all know and post an updates EQ score. I assume the score should then be similar to EX and TU.
You are correct and should see a 60-70 point gain once that 120D goes away. Due to diminishing returns, it often doesn't matter if someone has a single 120D late, 5 of them or 50 of them... all it takes is 1 to get the aged 60-70 point hit and the addition of others rarely results in much of a score change if at all. This is why you saw little change with the removal of 1 negative item when you still had another of similar age/severity.
You are right on the money. When the last 120 day late dropped off my EQ CR this month, I saw a score hike of 73 points. I think a handful of points was also added due to paying down on a credit card but I definitely got somewhere between a 60 to 70 point hike from the 120 day late being removed.
Yup, 120 day lates can cost this many Fico points right up to the 7 yr mark when the CRAs exclude them. it is a major delinquency on par with scoring as a CO.
