Discussion on places like Fatwallet suggests that most companies report payments that are 30+ days late, with additional badness tiers at 60+ and 120+ days late.
Yes. Also, credit reports focus on currently delinquent accounts -- a missed credit card payment a few years ago almost certainly won't show up if the account is currently not delinquent.
> Yes. Also, credit reports focus on currently delinquent accounts -- a missed credit card payment a few years ago almost certainly won't show up if the account is currently not delinquent.
This is absolutely untrue. Have you looked at a credit report before? There is a table in it that includes information about each month for the last few years (I believe seven); and each month is a whole column of information about each of the various accounts you have been paying to. It indicates whether there was no payment needed, payment on time, or, yes, a late payment. Even if the account is currently paid up.
I don't have to. The burden of proof is on someone who claims that something "almost certainly won't show up", when in fact there are a lot of circumstances where it definitely will. I'll concede that you might need to look at more than one report to see evidence of this, but I maintain that the ggp is incorrect and I was right to call it "absolutely untrue".
Definitely. Where I live (Toronto) credit reports used for most things only have information like: "missed a payment in the last 30/60/120 days -- yes/no" and that's it. Pls, as above, most banks wont actually bother reporting a 1-day late payment at all.
Yes. Also, credit reports focus on currently delinquent accounts -- a missed credit card payment a few years ago almost certainly won't show up if the account is currently not delinquent.