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naf wrote:Could I be denied a loan or receive a higher interest rate due to those late payments, eventhough my score is now okay?
@Anonymous wrote:
. . . .However, I DO have a very poor history with late payments galore ~ Therefore, I am still very concerned those late payments will some back to haunt me when I shop for a new car and my credit history is pulled.Could I be denied a loan or receive a higher interest rate due to those late payments, even though my score is now okay? I know I probably sound super-paranoid, but those late payments embarrass me and, as I said, I'm afraid they will come back to haunt me.Thanks ~
You have multiple accounts showing missed payments or derogatory descriptions.It does affect your score if you get this little gem, and it might well affect the rates you get and so forth.
Number of your accounts with a missed payment or a derogatory description
3 accounts
About 93% of FICO High Achievers [?] have no missed payments at all. But of those who do have a missed payment, it happened nearly 4 years ago, on average.
Your FICO score takes into account missed and late payments in a few ways. These include the number of late payments, how late they were and how recently they occurred. Your score was hurt because your credit report shows multiple accounts with missed payments or derogatory descriptions [?].
What to do about this: If the late payments on your credit report are valid, you should focus on continually paying all your bills on time. This will demonstrate a good payment history and these late payments will have less of a negative impact on your score as time passes.