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Closed account reporting

Established Contributor

Closed account reporting

Is it normal to have a credit card that was closed to continue to report ok every month? Card that was closed in 2006 was last updated 11/11 as good, been closed since 2006. Is this normal?

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3 REPLIES
Frequent Contributor

Re: Closed account reporting

I've wondered this too.  I have one I closed in 05 reporting closed but with 0 balance every month.


| EQ 763 |
| Amex BCE 7500 | Marriott Rewards Premier 5500 | Citi Simplicity 4000 | Discover IT 1700 |

Established Contributor

Re: Closed account reporting

Closed account will continue to be on your report for ~10 years, and they still contribute to your AAoA


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


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Frequent Contributor

Re: Closed account reporting


Guava wrote:

Closed account will continue to be on your report for ~10 years, and they still contribute to your AAoA


+ 1 

 

It's normal. This also helps maintain your AAoA. I think it's a common misconception that the account history is immediately lost once you close a card.  

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)