I was checking out a recent creditwatch notification from Equifax, and happened to notice that their Rating definitions seemed to have changed. I pasted below the info from the notification: Rate Key* 0 Too new to rate 1 Pays account as agreed 2 Not more than two payments past due 3 Not more than three payments past due 4 Not more than four payments past due 5 At least 120 days or more than for payments past due 7 Making regular payments under W.E.P 8 Repossession 9 Bad Debt; placed for collection; skip Hmm...Interesting.... Does this mean that Equifax now gives you a "freebie" late payment per account before they start counting against you? Or are they just hiding a reported late payment from consumers, but still using it in their score calculations? And does "past due" mean that now payments 1 day late will be reported, as opposed to the past when they were reported only when 30 days past due?
