Is your credit SCORE more important than the credit history?
If I apply to refinance my house, will the credit score be all the bank looks at? I had perfect credit until a credit card company failed to mail me my statement for 3 months, and then canceled my card and reported 3 missed payments of $25, even though I wired the payment to them as soon as I found out about it. This single hit to my credit rating has reduced my score to 629, which is considered sub-prime.
Does anyone know if the banks consider the whole report and would notice that there are no other blemishes? Or am I stuck waiting 7 years for this to come off my record before I can refinance at a prime rate?
I would think that if this credit card company mistake is all it takes for a bank to consider me a bad risk, then the banks haven't learned anything about making risky loans.