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Time since most recent late payment

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Regular Contributor

Time since most recent late payment

My most recent late payment was 3 years 11 months ago. Is there a threshold (say 4 years) that once I cross my score will jump up?

Current Open: NFCU AMEX $6,800 CL | Chase Freedom $3,800 CL | QS1 $1,300 CL | BankAmericard $24,000 CL (AU) | NFCU SSL $3,000 |
FICO 8 EXP, EQ, TU: 675-715 (depending on Utl.) | AAoA 3 Years 3 Months | AoYA 0 Months

Closed: American Honda Finance Installment $16,000 paid satisfactorily | Capital One Secured $700 paid satisfactorily | Wells Fargo credit card $3,000 paid charge off settled less than full amount (badie 2015) | Bank of America credit card $1,000 paid charge off settled less than full amount (badie 2015)
1 REPLY 1
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Super Contributor

Re: Time since most recent late payment

Depends on the severity of the late payment and the rest of your profile.

 

Some report gains around the 2 year mark since a late payment and often little else until it ages off.  I wouldn't expect for you to see anything at 4 years though.

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