Will I see improvement after 1 year?

[catzcradle]

My most recent late (a 60 day, yuck) happened October of 2007 so I was expecting my score to go up a little this month, but it didn't budge at all. Do you think it will next month? Does a year help at all? Ugh, I wish I could make it go away faster! It's their fault for not changing my address! Haha...

Also, I have a Home Depot account that we used to get a new washer/dryer. They were running a 0% interest special until 2009, so we used the card. We've been paying on time now since April, but my CR still doesn't show that account as having a balance. I thought maybe the paying on time would help my score, so I was hoping it would report. Wonder why they aren't reporting? It says my last account activity was in 2004! 

[Anonymous]

You should see a modest boost at the 2 year mark, that is when a minor late is no longer considered recent.

As for the Home Depot account, you can call and ask them to report, but be warned you may take a small hit in score the first month it shows a balance, as you are using credit you don't normally use and that is considered an alarm bell. The following month most of it should correct - though you will have a few less points for having an additional account with a balance.