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Recovering credit score points from a late payment.

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Super Contributor

Re: Recovering credit score points from a late payment.


@jasonthebuc wrote:

I got my scores from both Credit Karma and Cap 1's CreditWise.


Be aware that those scores are not FICO scores.  The use the VantageScore 3.0 model, one that few if any real lenders use.  You'd be wise to obtain your FICO scores.  You can get your 3 FICO 08 scores for $1 from Credit Check Total.  For a quick and free FICO score, go to creditscorecard.com and within 5 minutes you'll have an idea of where you stand.

Message 11 of 17
Super Contributor

Re: Recovering credit score points from a late payment.

Ardecko, that 120 day late will supress your scores by anywhere from 60-110 points IMO.  In terms of late stacking up, really only the worst severity late is the constraint to your better scores.  All of the lesser 30's and 60's really don't matter when you have a major present.

 

I say 60-110 points because it really depends on the profile.  When my final 120 day late came off (which was 4.5 years old) I saw around a 70 point gain on my FICO scores.

Message 12 of 17
New Member

Re: Recovering credit score points from a late payment.

BrutalBodyShots...so I went to creditscorecard.com,and got my scorecard.My Fico 8 right now is 605...slightly higher than VantageScore.My concern is Experian,who provides the info for the scorecard,says on the scorecard that I have 11 total accounts,2 Installment Loans,and 9 Revolving accounts.The 2 loans and 7 of the revolving accounts were closed due to my Chapter 7 filing in December of 2016.Tried pulling the report on annualcreditreports.com,but I guess Experian doesn't do online reports anymore.Any thoughts?

Message 13 of 17
New Member

Re: Recovering credit score points from a late payment.

I pulled my TransUnion report,and all accounts are accurate and up to date.

Message 14 of 17
New Contributor

Re: Recovering credit score points from a late payment.

@

775/780/789- EOY 2017
824/812/811- July 2018
Message 15 of 17
Super Contributor

Re: Recovering credit score points from a late payment.


@nursemanit wrote:

@


How do you know that?  I would think it's next to impossible to quantify how many points that 30 day late is impacting your scores currently with its age being 6.5 years old.  Now, when it ages off you can certainly quantify it's ending impact by seeing how much your scores improve at that time.  I'm just curious how you're attempting to quantify the impact of that 6.5 year old delinquency at this time?

Message 16 of 17
Established Contributor

Re: Recovering credit score points from a late payment.

Would you mind sharing your spreadsheet with me if it’s not too much trouble? I have 18 lates and believe this would be very helpful.
Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 17 of 17
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