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Late payments, how long do they effect score?
mart176
Posts: 1 Newbie
in Credit cards
Can anyone help me? How long is a late payment likely to negatively effect my credit score? It's been a couple of years since I made a couple of late payments but I still have a poor credit score. Is there anything I can do or do I just have to wait? Cheers.
0
Comments
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6 years but over time they should have less effect0
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You don't have 'a score'. When you apply for different financial products from different lenders they will all score your application differently.
Late payments can potentially stay on your credit file for up to 12 years - 6 years of account data and a further 6 years if you close the account while they still show on your report. As above, lenders will tend to weight late payments less harshly over time or potentially ignore ones that are 'n' years old.0
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