Rolling lates

[Fancyron]

Can some direct me to an older thread, or can someone explain this and its effect on scoring?  Thanks.

[Anonymous]

Yep-

Use the most recent one and the most severe - that is what is used in scoring. 

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Fancyron wrote:

Can some direct me to an older thread, or can someone explain this and its effect on scoring?  Thanks.

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[RobertEG]

Timothy, that is interesting.

Are you saying that FICO only considers two delinquencies in its scoring.... the most recent, and the most severe?  All others are not scored?  That does not seem logical to me, but I respect your knowedge, and am niot arguing.... just seeking clarification.

Thanks.

[Anonymous]

Yep- for the most part.

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RobertEG wrote:

Timothy, that is interesting.

Are you saying that FICO only considers two delinquencies in its scoring.... the most recent, and the most severe?  All others are not scored?  That does not seem logical to me, but I respect your knowedge, and am niot arguing.... just seeking clarification.

Thanks.

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[Fancyron]

Thanks Timothy.  That does help. 

[Anonymous]

Bear in mind there's another variable that having a lot of delinquent accounts affects: the percentage of your accounts that are delinquent. So multiple lates on ONE account won't affect your score more severely, but lates on multiple accounts will.

But only a little. Percentage of delinquent accounts as a variable is pretty far down the trough compared to recency of the lates.