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Ok well if it's 3 years then that couldn't be the issue. I have a late payment that's currently 3+ years old on exp and trans, equifax is no late payments.
I have done some research and it does appear that even tho charge cards do not affect util, the outstanding debt does still affect your score. Just not as much as it would if your util was also high.
because my total credit limits combined between all cards is still low. A $2500 debt is substantial.
as a data point. When I let my cap 1 card report 66% a couple months ago. It brought my aggregate to 25%. And that dropped my score 70 points.
so, it does make sense that $2500 ( much larger debt) could impact my score 70 points as well. Had it been a regular credit card, it would have brought my aggregate util to almost 50%. Which could have dropped my score close to 100 points. But since it was a charge card my util stayed at 1%, so the drop wasn't so steep. That's the only other scenario that makes sense
@Patient957 wrote:I think Fico 8 scorecard reassignment is believed to occur at AoOA = 3 yrs for clean profiles. And, yes people do report a score drop of 20-30 points I believe. You're on a clean profile, correct?
Can't speak for OP regarding clean or dirty, but I can say it either doesn't reassign on a dirty profile (likely) or if it does there's no score drop. I'm on a dirty profile with the not so common situation of a 7yr old BK7 reporting but an AoOA and AoORA only a few months past 3yrs. When I hit 3yrs (my AoOA and AoORA are identital since I only have revolvers on my report), there was no change , leading me to believe that for FICO 8 and FICO 9 there's no reassignment.
Fico dirty scorecards are not segmented based on file age. That segmentation attribute is specific to clean scorecards.
@Thomas_ThumbThanks, that explains why nothing happened at 3yrs. Meanwhile I've got 2yrs 9months till I hit 10yrs on the BK7 and have a clean file.
Can anyone tell me if a profile with a 30 day late over 2 years old is still considered dirty?
I thought I read somewhere that a profile is only considered dirty if
1) has a 90 day late or worse
2) has a 30/60 day late under 2 years old (once the late ages over 2 years, the profile is then clean, unless it's a serious delinquency which always remains dirty until the late ages off)
If that is true, that would make an account with a 30 day late that's over 2 years old "clean"
but I've also seen people say that any late makes a profile dirty, no matter of age or seriousness