EXPERIAN STATUS DETAILS

[tonikay68]

Hello

My Experian Credit Report  shows First Premier Credit Card which I opened in 2010. This account is scheduled to continue on record until May 2025!! That is equal to 15 years....................(I will be 82 yrs old) If this is a Credit Card acct. Why does it show  it will continue on till 2025? No Late Payments

I never heard of a Credit Card acct. staying on a report  for 15 yrs.

On my Beneficial Personal Loan that I opened in 2002 Closed and paid off. in Dec 2005. Shows will continue on record till Dec 2015-13 years. No late payments. shows Term: 5 months! What is this?

Thank You For Your Support

[myjourney]

When was the account closed?

It's up to 10 years from close for TL's 

Edit 

Beneficial Personal Loan ....don't knock a freebie Lol

I had a TL stay 14 years sadly it disappeared this year 

[Anonymous]

---

@tonikay68 wrote:

Hello

My Experian Credit Report  shows First Premier Credit Card which I opened in 2010. This account is scheduled to continue on record until May 2025!! That is equal to 15 years....................(I will be 82 yrs old) If this is a Credit Card acct. Why does it show  it will continue on till 2025? No Late Payments

I never heard of a Credit Card acct. staying on a report  for 15 yrs.

On my Beneficial Personal Loan that I opened in 2002 Closed and paid off. in Dec 2005. Shows will continue on record till Dec 2015-13 years. No late payments. shows Term: 5 months! What is this?

Thank You For Your Support

---

Positive trade lines remain for 10 years from closure. Since you paid off the loan in December 2005, December 2015 is correct. Did you close the Credit One this month? If so, than 2025 is correct.

[tonikay68]

Hello

I closed my Credit Card account approx. nine-ten months ago.. shows a high balance of $533 and recent balance  $133 -Credit Limit $700. My report information shows High balances are considered negative How can this be considered Negative? Acct almost paid off.. Never missed a payment.

[tonikay68]

Hello

What is meant by your comment "Don't knock a Freebie?" I don't get it. Explain A TL to a Personal Loan? Don't get that either.

Thanks

[Revelate]

---

@tonikay68 wrote:

Hello

I closed my Credit Card account approx. nine-ten months ago.. shows a high balance of $533 and recent balance  $133 -Credit Limit $700. My report information shows High balances are considered negative How can this be considered Negative? Acct almost paid off.. Never missed a payment.

---

The high balance as reported on a tradeline isn't relevant to credit scoring - "high balances" translated to high revolving utilization, yes that's a negative in the sense that lower (non-zero) revolving utilization is always a good thing.

What report are you looking at?  Third party implementations vary wildly with how accurate they are in their interpretations... many should just be outright ignored.

[Revelate]

---

@tonikay68 wrote:

Hello

What is meant by your comment "Don't knock a Freebie?" I don't get it. Explain A TL to a Personal Loan? Don't get that either.

Thanks

---

Basically any positive information on your reports is absolutely beneficial from a credit scoring perspective.

In this case you want positive accounts to say on your file as long as possible; as Captool suggests - generally they stay on reports for 10 years after they close; however, sometimes they've been known to stay for longer and if they do, that would be considered a "freebie."  I think that's what was being gotten at, though it sounds like the bureau has it exactly right on their exclusion dates.

Term of 5 months, or 1 month, or similar, just states how long the loan was expected to be open... the payment term.  Likewise not used for credit scoring, more useful for underwriters looking at your file to get a better picture of your past financial history.