@CreditScoreImprovement24 wrote:I have a credit card currently OPEN, but it has a missed payment from 3 years ago.
Three questions:
1. So, I only have to wait 4 more years (7 years since missed payment) for it to be removed from my report?
2. How does the removal work exactly on your credit report....like does the red missed payment just "vanish" and not show anymore? How does this look/appear exactly on the credit report?
3. Now, if I have a CLOSED account with all on-time payments for 2 years except just ONE missed payment...will the entire account vanish from my report after 7 years or just the missed payment? I ask because I don't want to lose all those on-time payments for 2 years. Also, is it 7 or 10 years?
Thanks in advance guys!
Are you saying you had one late (30, 60, or 90?) one time from 3 years ago and all payments since then have been on time? I would just dispute it with the bureau(s) and I'll bet you the card issuer isn't going to bother to respond if you have been current for the last three years.
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1. Yes, if it's an isolated late it should fall off of your report after 7 years.
2. The late disappears from your report. On a month where a late has aged off, you'll probably see the payment status as no data.
3. Delinquency aging and closed accounts falling off your reports are two separate things. If a closed account is still reporting a when a late ages off, just that late will dissappear and the rest of the account history will remain.
For 7 vs 10 years , if you're asking about delinquencies, most fall off after 7 years. Some serious marks like BK fall off after 10. If you're asking about the time it takes for a closed account to age off your report, that varies. A good rule of thumb is "up to 10 years", but closed account can fall off earlier or later than 10.
@ptatohed wrote:Are you saying you had one late (30, 60, or 90?) one time from 3 years ago and all payments since then have been on time? I would just dispute it with the bureau(s) and I'll bet you the card issuer isn't going to bother to respond if you have been current for the last three years.
I think the old mods would have deleted this for . . . you know.
But I did exactly that. I had one 30+ day late that was 5 years old. I disuputed it during Covid when companies were shorthanded and/or working from home. It went away and my scores saw significant improvement.
The more legit way to do it would be with a good-will letter and ask the creditor nicely, since you've been such a good customer since then, to remove it.
EQ8 769, TU8 757, EX8 769 as of May 11
@mgood wrote:
@ptatohed wrote:Are you saying you had one late (30, 60, or 90?) one time from 3 years ago and all payments since then have been on time? I would just dispute it with the bureau(s) and I'll bet you the card issuer isn't going to bother to respond if you have been current for the last three years.
I think the old mods would have deleted this for . . . you know.
But I did exactly that. I had one 30+ day late that was 5 years old. I disuputed it during Covid when companies were shorthanded and/or working from home. It went away and my scores saw significant improvement.
The more legit way to do it would be with a good-will letter and ask the creditor nicely, since you've been such a good customer since then, to remove it.
It doesn't have to be a "dispute". A consumer has a right to send a "verification" letter. It has the same effect as a dispute letter, in that if the lender does not respond, the item will be deleted.
@SouthJamaica wrote:
@mgood wrote:
@ptatohed wrote:Are you saying you had one late (30, 60, or 90?) one time from 3 years ago and all payments since then have been on time? I would just dispute it with the bureau(s) and I'll bet you the card issuer isn't going to bother to respond if you have been current for the last three years.
I think the old mods would have deleted this for . . . you know.
But I did exactly that. I had one 30+ day late that was 5 years old. I disuputed it during Covid when companies were shorthanded and/or working from home. It went away and my scores saw significant improvement.
The more legit way to do it would be with a good-will letter and ask the creditor nicely, since you've been such a good customer since then, to remove it.It doesn't have to be a "dispute". A consumer has a right to send a "verification" letter. It has the same effect as a dispute letter, in that if the lender does not respond, the item will be deleted.
I asked the people on the phone about it. This was about my Eddie Bauer card from Comenity*. I said this is 5 years old and it's hurting my credit. I've been good all this time, can you take that off of there? And I was told that they could only see two years worth of history. They thought my request seemed reasonable, but said I'd have to send an actual snail-mail letter and gave me the address. I thought that if they can only see back two years, it might be difficult to verify. So quicker than I could find an envelope and a stamp, I just disputed it with the big 3 credit bureaus, hoping they'd just call and the first person that answered the phone would tell them they couldn't see any record of a late payment for me. And *poof* it went away.
Whether you want to call it a duspute or a verification, I think they have 60 days (?) to verify something and if they can't do it in that time, they have to remove it.
*That card is going away now anyway. It will work through Dec 31. On Jan 1 it will be no more. I've had it since 2015, so it's been a good run. They invited me to apply for an Eddie Bauer Visa (or Mastercard, I don't remember which for sure). I haven't done it. If they want to give me one, fine. I'm not burning an inquiry for it.