How long does good (closed)credit accounts stay on your CR?

[trc1963]

Does anybody know how long good standing closed accounts will stay on you credit report?

Also should I delete some old Benificial accounts from my report?  I guess having loans with Benificial is bad for your report.  I had three benificial accounts but they are all over 7 years old.  If you guys think I should delete them, I should be able to easily have them removed right?

Thanks

[Anonymous]

The closed good accounts should remain on your reports for 10yrs.

The Benificials will stay for 10yrs also if they are closed & reporting good. Since they are 7yrs old I doubt they are hurting you, they may be helping you with their age.

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trc1963 wrote:

Does anybody know how long good standing closed accounts will stay on you credit report?

Also should I delete some old Benificial accounts from my report?  I guess having loans with Benificial is bad for your report.  I had three benificial accounts but they are all over 7 years old.  If you guys think I should delete them, I should be able to easily have them removed right?

Thanks

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[Anonymous]

We still have loans on our CR from 1994 they are all Paid.  But they do help with our history.  13 years that is good.  I dont see the need to remove a good history from your CR.  It is making your history longer by being there.  When you remove it I think it is possible that it will lower your FICO score as it means you have shorter history.  This is only my thoughts on this.  Tks Vicki

[haulingthescoreup]

You're concerned about it being one of those personal finance accounts, right? I still don't get why they are marked down by FICO. As old as they are, they might not be doing any damage.

I guess you could try to get Beneficial to remove just one, and see what if anything happened to your scores. But you would want to get a CSR with a sense of humor, who understands what you're trying to do, be very grateful to them for helping you out back then, and then hope to Heaven that they just take the one off!

Weird and unpleasant things often happen when people try to get things removed from their reports...

[Anonymous]

I would think as they are 7 y/o they aren't doing anything to your scores and deleting them might actually lower it...

reason I say this is cuz one poster quite a while ago had a collection fall off after ten years and actually got a drop- but it was because it was their oldest account!!! None of the newer ones (if I remember the person had a BK) were close to being as old as that one...it was weird I know.

IMHO I would leave it alone.

[fused]

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trc1963 wrote:

Does anybody know how long good standing closed accounts will stay on you credit report?

Also should I delete some old Benificial accounts from my report?  I guess having loans with Benificial is bad for your report.  I had three benificial accounts but they are all over 7 years old.  If you guys think I should delete them, I should be able to easily have them removed right?

Thanks

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10 years. Even though these are sub-prime loans, having them still helps your credit mix. Leave 'em be, they are helping you with credit length history and average-age of accounts. Accounts such as these do not hurt more or less over time, they simply age. Aging is good!

[haulingthescoreup]

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fused wrote: Accounts such as these do not hurt more or less over time, they simply age. Aging is good!

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Well, for accounts, maybe...

Cripes, don't move a thread just as I hit the reply button! Scared the wits out of me.