cancel
Showing results for 
Search instead for 
Did you mean: 

Old 30 Day Late Removed, Score Went Up 20 Points!

Highlighted
Established Contributor

Old 30 Day Late Removed, Score Went Up 20 Points!

So I've mentioned a few times on here that I had one 30 day late remaining on my EQ reports. Basically, I was able to goodwill the late, which was removed from TU and EX, but, of course, EQ just refused to do anything for like 6 months. I finally got fed up and filed a complaint with the CFPB, which helped speed things along. However, instead of fixing the late payment, they just deleted the whole tradeline. Figures they would mess up something so simple.

 

Anyways, as luck would have it, I was able to do the $1 trial with Experian today, and got to see my updated EQ score! Last time I checked, my EQ score was 702, today when I pulled a fresh report, it was at 722! My AAoA was still at 2 years, so removing that old account didn't do too much damage, I suppose. I probably could've left it alone as it was set to fall off next year anyways, but I have no patience whatsoever.

 

So it just goes to show that these small 30 day lates that are like 6 years old can still do some significant damage. Of course, it's always YMMV, and you might not see the same outcome. Now my EQ score is in line with the other 2 and this helps put my soul at ease.  

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 1 of 8
7 REPLIES 7
Highlighted
Super Contributor

Re: Old 30 Day Late Removed, Score Went Up 20 Points!

The typical point gain seen from the removal of a lone aged minor is typically around 40 points.  I've seen anything really in the 30-50 point range.  That's with removal of just the negative item, not the entire tradeline, which of course would impact age of accounts factors (either positive OR negative).  My question then for you since you only gained about half of the "expected" points would be why?  Did eliminating the tradeline decrease your AAoA (or even AoOA)?  What type of account was it?  If for example it was your only installment loan, it could have adversely impacted your "credit mix" being satisfied.  Or, you could simply have other things going on with your report like the obvious reported balance changes.  If you "lost" (say) 15 points at the same time due to utilization changes, your 30 day late removal could have really been "worth" 35 points, but you only saw the net gain of 20 points due to 15 of them being eaten up by the utilization (or other) change.

Message 2 of 8
Highlighted
Moderator

Re: Old 30 Day Late Removed, Score Went Up 20 Points!

@Queen_Etherea   Congrats! 

Me: " Take the trash out"
My son " You can't give me jobs, that's nepotism"
Message 3 of 8
Highlighted
Super Contributor

Re: Old 30 Day Late Removed, Score Went Up 20 Points!

Nice. I got 11 months to go for my only 30 day to fall off. I'll take 20 pts or BBS's 30pts. Either way something to look forward too. Congrats Queen!

Message 4 of 8
Highlighted
Super Contributor

Re: Old 30 Day Late Removed, Score Went Up 20 Points!

Congratulations on your clean scorecard!
Message 5 of 8
Highlighted
Super Contributor

Re: Old 30 Day Late Removed, Score Went Up 20 Points!

Congrats!
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

    




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 6 of 8
Highlighted
Established Contributor

Re: Old 30 Day Late Removed, Score Went Up 20 Points!


@BrutalBodyShots wrote:

The typical point gain seen from the removal of a lone aged minor is typically around 40 points.  I've seen anything really in the 30-50 point range.  That's with removal of just the negative item, not the entire tradeline, which of course would impact age of accounts factors (either positive OR negative).  My question then for you since you only gained about half of the "expected" points would be why?  Did eliminating the tradeline decrease your AAoA (or even AoOA)?  What type of account was it?  If for example it was your only installment loan, it could have adversely impacted your "credit mix" being satisfied.  Or, you could simply have other things going on with your report like the obvious reported balance changes.  If you "lost" (say) 15 points at the same time due to utilization changes, your 30 day late removal could have really been "worth" 35 points, but you only saw the net gain of 20 points due to 15 of them being eaten up by the utilization (or other) change.


It was an installment loan that was about 6 years old. It wasn't my only one; I have 2 other installment loans. I think it may be my utilization or maybe accounts with balances. Almost all of my accounts are reporting balances, altough they're small balances like $40-$100. My overall utilization is at 4% and has been at 4% for quite some time. 

 

So I'm not sure why I didn't get the expected amount of points, but I'm happy with what I got. I'm sure if I were to pay off some of the cards I'd gain some points, but it's not really all that important to me right now. I'll practice the whole AZEO thing when it comes time to apply for something. 

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 7 of 8
Highlighted
Established Contributor

Re: Old 30 Day Late Removed, Score Went Up 20 Points!

Congrats on your hard work and score jump!

 

 



Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.