Can a Closed Account Still Be Reporting?

[TuffyLess]

I got a Sears card back in 01.2010 and closed it 03.2010 (one of those 0% interest for 3 months deals).

TU reports in the description:  "Account closed by consumer"

Also, TU shows in the table "Date Closed: 03.2010"

However, in the recent payment history section - it never ended in 03.2010. 

In fact its showing that on 03.2012, Im still paying as agreed with an "ok".

EQ seems to not report "recent payment history" as TU does, but EQ says in the description: "Account closed at consumer's request"

So my questions are:

1> Before talking to Sears themselves, would you suspect this account is really closed?

2> Has it been known to have TU recent payment history continue to show "ok" up to the current date if the account was closed years ago?

And most importantly ...

3> Is the "recent payment history" info TU is reporting affecting the credit score or would the "Dated Closed:" field nulify its impact on the score?

Thanks crew ... ya'll run a very informative forum here!

[heicos40t5]

As a general rule of thumb:

Closed accounts will continue to report for 10 years regardless of who closed them.

As long as you, the consumer, closed it with no balance, then it will continue to report positively, and factor into your AAOA (average age of accounts) until it falls off- normally after 10 years from date of last activity (DLA). 

Did you take a hit on your scores? If not, then I would say you are good to go.

[Anonymous]

You're account is closed.  I remember that some of my closed accounts were still reporting current positive payment history on Transunion; I doubt that it matters much.

[TuffyLess]

No, no credit score negativity that I noticed.

Didnt know if the score was being propped up though because of this positive reporting on a closed account.

Koop,

Ok, since TU was still reporting positive monthly payments being made, I didnt know if I should calc that account into my total util% for revolving loans.

From all this, Im gathering that I shouldnt and the credit score isnt either.

[Anonymous]

If the account is closed it's not going to factor into utilization.

[tinuviel]

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@Anonymous wrote:

If the account is closed it's not going to factor into utilization.

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Correct. So, TuffyLess, just let it keep reporting for as long as it will (usually 10 years, but sometimes they'll stay on reports even longer).

[TuffyLess]

10-4; good deal.

Appreciate ya'lls time.

[MarineVietVet]

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@Anonymous wrote:

If the account is closed it's not going to factor into utilization.

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Sometimes they do. If both the credit limit and balance are reporting then the account is factored into utilization. This is discussed in detail here: Closing Credit Cards

[Juss11]

Can I ask you why, you closed an account with no AF?

[TuffyLess]

Ignorance.

Before I started researching the world of credit, I was under the errornoues impression the less open accounts the better.

Kicked myself in the nuts when I learned I wasnt helping myself by doing this.

Thanks Marine ... Ill take a look-see.