When does the 7 years start?

Anonymous · ‎04-01-2008

I am new to this and shouldn't have waited so long .

I just got my 3 credit scores yesterday and am going over them. It shows I have a lot of accounts:

TU = 28
EQ = 31
EX = 30

with only 8 on each with balances. Most of the others are closed or inactive.

1 with date closed July 2003 yet status is Mar 2008. Why are they still reporting almost 5 years after it was closed? Most others closed in 2002 yet were being reported through 2005.

Does the 7 years they hang around start with last status date or closed date or ?

Any help is appreciated. This forum has been very helpful.

Fico scores

TU = 686
EQ = 725
EX = 719

Trying to get to the 800 someday

Anonymous · ‎04-01-2008

closed accounts in good standing report 10 years If closed not good standing drops in 7 years both from date closed!

Anonymous · ‎04-01-2008

Hi Denloe,

Most accts in good standing will remain on CR for 10 yrs after closing of acct.

Accts in good standing are better left on CR to show some previous credit history.

Do you have any other accts in derog or delq status?

Anonymous · ‎04-01-2008

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

Anonymous · ‎04-01-2008

EQ shows derogs and it ismy highest score. It is two accounts showing lates 30/60 day from 2002. (long story there) I fought them. I lost.

My biggest issues are:

Ratio of revolving credit balances to limit at 38%
Too many credit accounts
Too many credit accounts with balances

thanks
denloe

Anonymous · ‎04-01-2008

thanks sidewinder for the url

that helps

Anonymous · ‎04-01-2008

What if there is no Date closed?

Example:

Date of Last Activity Oct 2002. Date it was paid off
Date Closed Not reported
Account Status Inactive

Most are saying inactive. I have a few that still say Open.

Thanks

Anonymous · ‎04-01-2008

late pay that old should not be hurting you.