Old Closed Accounts- When Removed?

[Anonymous]

Do old accounts that have been paid & closed get removed? After how many years?

(Nothing negative ever reported on them)

IE:

A credit card that was "closed by consumer" and last active in 1999 and a home equity loan paid off in 2000.

Thanks!

[MidnightVoice]

10 years after they close.

And it can reduce you average age of account and reduce your score as a result

[Anonymous]

TU stated that I have "too many credit accounts" and shows it to be 28. The majority of which are paid/closed.

Thanks.

[SmartCookie]

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Kwa wrote:

TU stated that I have "too many credit accounts" and shows it to be 28. The majority of which are paid/closed.

Thanks.

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Check the individual TLs for your closed accounts on TU.  Sounds like they are reporting some as open.  If so, make a copy of the directly pulled (full account numbers etc) report in case they wind up wiping them out when they try to update them.

[haulingthescoreup]

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@Anonymous wrote:

TU stated that I have "too many credit accounts" and shows it to be 28. The majority of which are paid/closed.

Thanks.

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kwa, when you say "TU", do you mean that this is on your TU *FICO* score report, or is it on the report that you pulled from TU or a credit monitoring service?

Unless rhe advice is on a FICO report, I wouldn't go closing or trying to remove perfectly good accounts! The score improvement tips that you get on the credit bureau sites can be BAD for your real scores.

[fused]

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Kwa wrote:

TU stated that I have "too many credit accounts" and shows it to be 28. The majority of which are paid/closed.

Thanks.

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That's just TU Hogwash! FICO scoring could care less how many accounts you have so long as they are in good standing, have low util on revolving lines and no lates. Open and closed accounts are weighted equally in FICO scoring. Just make sure no closed account has any balance...this is very bad.