I've had a few credit cards for about 5 years and there was a brief period of time where I couldn't pay for 60-90 days for a few consecutive payments, but then after that I've been making timely payments (about a year now). I've had a credit line increase during that time too on all the cards. The accounts sits in the Negative Account section and was wondering if that can ever be elevated back to the Open Accounts section if I keep paying on time and keep getting credit line increases? Thanks for reading!
Hi Kkamin, and welcome to Creditnet. 90-day lates are real killers on your credit reports. Unfortunately, they will stick around on your credit reports for about 7 years, which means that particular account will continue to hang out in the Negative Accont section. How long ago was the time period that you couldn't pay for 60-90 days?
No problem. So you still have awhile to wait, but the good news is that as you build recent positive payment history with your credit cards and the 90-day late pays age, your FICO credit scores should continue to improve.