Question about lates aging

[GFer]

I have several lates that will age to 2yrs in Oct. Will I see a score increase because of this? (Hopefully!)

(2) 30 day lates

(2) 60 day lates

(2) 90 day lates

(2) 120 day lates

In Nov it will be 2yrs without ANY lates!

[CreditBob]

You may or may not see a score increase. As the late payments age and move further away from when they are reported they will cause less negative impact. In November pull a new score and see what happens. The one thing that will help if you have any revolving accounts that you keep a very small balance such as a 2% utilization of what your line of credit is. Credit card type accounts have the most impact on a score. Of course you will have to see what other factors are reporting.

[Anonymous]

I am right with you-

It has been a long wait to hit 2 years-

Play with the FICO simulator-

Mine says 50 to 80 points (paying ontime for 3 months)  

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GFer wrote:

I have several lates that will age to 2yrs in Oct. Will I see a score increase because of this? (Hopefully!)

(2) 30 day lates

(2) 60 day lates

(2) 90 day lates

(2) 120 day lates

In Nov it will be 2yrs without ANY lates!

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[GFer]

I have kept my balances low, but two of the bureaus still show me as an au on an acct that I had myself removed from several months ago. (With a 1400 balance that's being included in my utilization!)

Timothy, I agree about the long wait!

I played with the sim and it says:

No points for 3 months

20 points for 6 months

and if I get utilization down to 6% or so...60 points. (Still a pathetic score!)

I still hate Equifax! LOL

TU gives me 40 points for just 3 months and no pay down
80pts for 6 months and 100pts for pay down in 12 months!

I really, really hate EQ now!

Message Edited by GFer on 09-21-2008 04:10 PM