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Please reference the previous two credit tips for more insight on Payment History. Lastly, it’s important to understand where payment history is located on your credit report. Well the delightful negative payment history is located under the 30, 60 and 90-day columns. If you have numerical digits in these columns that’s bad news but that’s a useless tip as most everyone knows that. However, what you may not know is where your positive payment history is posted. In other words, If I have an auto loan for the last two years, where does it give me credit for all my on-time payments? …..Give up? Depending on the credit report, it will either be listed under the heading “mo” (which stands for “months of”) or under the heading “reviewed.” Going back to my auto example, the number should say “24” if I’ve been making payments for two years.

The “mo” or “reviewed” heading does have maximum number of payment history credits. This number maxes out at 99. It’s like the Y2K glitches; it looks like the Credit Bureaus never figured out how to update their software to include all of the necessary digits. Anyway, this a quick reference to credit specialists to see how impactful certain accounts are. Sometimes the “Open” Date is deceiving due to examples such as having a credit card but not using it and, hence, not getting payment history credit while the “Open” continues to lengthen.

Remember don’t be a fool, stay in school! Or in this case call us at 1-(888) 795-9088 to receive endless credit assistance.