Quote:
Originally posted by ltl/fb
Credit scoring has way, way more to do with whether you've ever made even one late payment, even on a $21 credit card bill. The debt to income ratio is another thing that they take into account, but a credit report doesn't care about your income. It cares whether you pay your debts on time.
ETA I don't think you had that "old days are over" part in your post when I wrote this, and I don't think that they are necessarily over. It depends to some extent how recent the nonpayment is, but they still fuck you if you have recent late payments. Possibly it just results in you paying an extra percentage or so on your mortgage or car loan or whatever.
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This is what goes into a credit score:
1. Were you ever more than 60 days late paying something? If so, how many times.
2. How much of your available credit are you using? If it's less than 20% you are great. If it's more than 80% you suck.
