@Anonymous wrote:
I have a couple 30 days that are now 1 year old, however I have a lot more with a couple 60's that will be hitting 2 years in September. I'm curious if there is any anecdotal evidence for lates crossing the 2 year mark and a bump in score?
There's certainly anecdotal evidence that the negative impact of lates decreases with age.
People mention the 2-year mark, which implies a step in the function, but logically I'm not sure why FICO would consider a late aging from 24 to 25 months to be of greater significance than aging 25 months to 26 months.
And of course, people talk about buckets. It's possible that Kari Credit, with her otherwise unblemished record, is significantly impacted by one late aging from 24 to 25 months, whereas Danny Debtor, with his, umm, complex, credit history is not impacted significantly at all.
