It was my understanding that a 30 day late wouldn't start to lose its strength until it but 2 years. Could be wrong though. There's a chart floating around showing the effects vs time. Maybe someone can dig it up and post it.
@Brian_Earl_Spilner wrote:It was my understanding that a 30 day late wouldn't start to lose its strength until it but 2 years. Could be wrong though. There's a chart floating around showing the effects vs time. Maybe someone can dig it up and post it.
That's the chart I was going by which is now causing confusion.
@Anonymous wrote:
@Brian_Earl_Spilner wrote:It was my understanding that a 30 day late wouldn't start to lose its strength until it but 2 years. Could be wrong though. There's a chart floating around showing the effects vs time. Maybe someone can dig it up and post it.
That's the chart I was going by which is now causing confusion.
Ah, I was definitely remembering wrong. Not sure then.
@Anonymous wrote:So I was under the impression that 1 year after a 30 day late, that there should be at least a bit of a bump in scoring. I have a 30 day late from Discover that aged 1 year today after this month's reporting. Nada... nothing. They took the big hit a year ago but I guess that's just the way this ridiculous game goes. What am I missing here? I'm still right at 700.
My guess is, if in fact you're going to see a point bump, it might take a few weeks for it to filter through the systems.
Any other negatives on your report? I have 60 day lates and 30 day lates on my report. Although the 30 day late is my most recent transgression, the weight of the 60D is such that it overshadows the 30D. Therefore I only see score gains from the 60D aging due to the penalty it's causing me being more severe.
@Anonymous wrote:
@Anonymous wrote:
@Ficoproblems247 wrote:Any other negatives on your report? I have 60 day lates and 30 day lates on my report. Although the 30 day late is my most recent transgression, the weight of the 60D is such that it overshadows the 30D. Therefore I only see score gains from the 60D aging due to the penalty it's causing me being more severe.
I have a 2 year old 30 day late with Affirm and a paid charge off from March w/Verizon. That's all the bad stuff so probably one of those. But still, a few points back would be nice from such a hit.
The chargeoff is the item that is suppressing your scores. It is worse than a 120 day late. Until that chargeoff ages off you are going to see greatly suppressed scores.
+1. That chart is an example of if you have "one of the following." Also, your CO is from 5 months ago, vs a 2 year old 30D late. That CO is going to be the ruling factor for the duration it is on your reports, far overshadowing any gains you'd get from that 30D late aging.
I wonder if I also have to wait one more month possibly for any possible bump. Albeit small because of reasons people have stated above.
My August statement reported which makes it 12 months but the Status date for the late payment was September. It might sound like I'm reading too much into this but dates and timing matters with anything automated which the CRAs definitely are.
