how long til a default is wiped from credit rating?

[Turb0123]

Apologies if this is in the wrong section.

A few years back I defaulted on a credit card.
I defaulted in Feb 2007, and then started to make monthly payments until the balance was cleared. It was eventually cleared in 2010.
What date will the default be wiped from my credit file?

6 years from the default date, (Feb 2007)?
or 6 years from the date the balance was cleared (2010)?

TIA

[Magic919]

Six years from the default date for removal of the default.

[Turb0123]

Magic919 said:

Six years from the default date for removal of the default.

Thanks Magic, I was hoping that was the case, as I was sure I had heard it elsewhere but just wanted to check.
I'm hoping my score jumps quite significantly once that date passes.

Thanks again

[sc0tt]

I would have assumed my credit rating is pants but i still got a mortgage. I wonder if half of this is scare mongering to get you to join experian et all.

[Sarnie]

sc0tt said:

I would have assumed my credit rating is pants but i still got a mortgage. I wonder if half of this is scare mongering to get you to join experian et all.

It depends what you are applying for. Ironically, it's easier to get a mortgage than unsecured lending if you don't have a perfect credit score. With a mortgage, the lender always has the house to take back if needed........

[P-Jay]

Sarnie said:

sc0tt said:

I would have assumed my credit rating is pants but i still got a mortgage. I wonder if half of this is scare mongering to get you to join experian et all.

It depends what you are applying for. Ironically, it's easier to get a mortgage than unsecured lending if you don't have a perfect credit score. With a mortgage, the lender always has the house to take back if needed........

Volume aside Mortgages are one of the lowest risk lends a bank can give involved with, especially now people are more savvy and tend to change mortgages every 2-3 years.

The risk of a total loss is almost nil, fraud is pretty low, at least in terms of financining a non-existent asset or itentity theft.

Pretty much every other type of personal lending is a punt in the dark.