cancel
Showing results for 
Search instead for 
Did you mean: 

Will closed account still count to my credit history?

tag
justforting
Regular Contributor

Will closed account still count to my credit history?

Just a quick question, I have my oldest account opened at 08/28/12, and I closed it around May. Will it still count to my total age of credit history? Is the age of history one year now, or the age of my second oldest account?

Last App: 09/17/2013 // No App Until: Mortgage (05/14?)

Cards in my wallet: AMEX BCE ($8000) // CITI AA VISA SIG ($5000) // CHASE FREEDOM ($3500) // DISCOVER IT ($1000) // CAP ONE NC ($1000) // WALMART DISCOVER ($1600)
Credit Scores: FICO TU08 (10/13): 739 // Credit Karma (10/13): 677??!! // Credit Sesame (10/13): 730
Next Goal: CSP (after mortgage probably...)
Message 1 of 6
5 REPLIES 5
daybreakgonesXe
Valued Contributor

Re: Will closed account still count to my credit history?


@justforting wrote:

Just a quick question, I have my oldest account opened at 08/28/12, and I closed it around May. Will it still count to my total age of credit history? Is the age of history one year now, or the age of my second oldest account?


Your closed account will count toward your AAoA and total history for 10 years past the closing date, +/-. So FICO scoring wise, you can still count it! Certain FAKO scores may not count closed accounts (CreditKarma comes to mind).

Message 2 of 6
justforting
Regular Contributor

Re: Will closed account still count to my credit history?


@daybreakgonesXe wrote:

@justforting wrote:

Just a quick question, I have my oldest account opened at 08/28/12, and I closed it around May. Will it still count to my total age of credit history? Is the age of history one year now, or the age of my second oldest account?


Your closed account will count toward your AAoA and total history for 10 years past the closing date, +/-. So FICO scoring wise, you can still count it! Certain FAKO scores may not count closed accounts (CreditKarma comes to mind).


Thanks for this info! Just about to apply Chase Freedom, which typically requires 1 year of credit history and thus want to make sure of it.

Last App: 09/17/2013 // No App Until: Mortgage (05/14?)

Cards in my wallet: AMEX BCE ($8000) // CITI AA VISA SIG ($5000) // CHASE FREEDOM ($3500) // DISCOVER IT ($1000) // CAP ONE NC ($1000) // WALMART DISCOVER ($1600)
Credit Scores: FICO TU08 (10/13): 739 // Credit Karma (10/13): 677??!! // Credit Sesame (10/13): 730
Next Goal: CSP (after mortgage probably...)
Message 3 of 6
daybreakgonesXe
Valued Contributor

Re: Will closed account still count to my credit history?


@justforting wrote:

@daybreakgonesXe wrote:

@justforting wrote:

Just a quick question, I have my oldest account opened at 08/28/12, and I closed it around May. Will it still count to my total age of credit history? Is the age of history one year now, or the age of my second oldest account?


Your closed account will count toward your AAoA and total history for 10 years past the closing date, +/-. So FICO scoring wise, you can still count it! Certain FAKO scores may not count closed accounts (CreditKarma comes to mind).


Thanks for this info! Just about to apply Chase Freedom, which typically requires 1 year of credit history and thus want to make sure of it.


No problem!

 

Chase uses an internal scoring model, and I'm not sure how they'll judge open/closed accounts. Either way, that closed account still has positive payment history attributed to it, so I'm sure it'll go well! GL! Smiley Happy

Message 4 of 6
SunriseEarth
Moderator Emeritus

Re: Will closed account still count to my credit history?

It should report for 10 years.  My record still has a car loan I cosigned for in 2005 and it's factored into my AAofA.

 

BTW, congrats on being able to close a secured card!



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 5 of 6
justforting
Regular Contributor

Re: Will closed account still count to my credit history?


@SunriseEarth wrote:

It should report for 10 years.  My record still has a car loan I cosigned for in 2005 and it's factored into my AAofA.

 

BTW, congrats on being able to close a secured card!


Thanks! Smiley Very HappyNever like AFs!

 

Last App: 09/17/2013 // No App Until: Mortgage (05/14?)

Cards in my wallet: AMEX BCE ($8000) // CITI AA VISA SIG ($5000) // CHASE FREEDOM ($3500) // DISCOVER IT ($1000) // CAP ONE NC ($1000) // WALMART DISCOVER ($1600)
Credit Scores: FICO TU08 (10/13): 739 // Credit Karma (10/13): 677??!! // Credit Sesame (10/13): 730
Next Goal: CSP (after mortgage probably...)
Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.