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When does the clock start for old cards falling off CR

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red259
Super Contributor

When does the clock start for old cards falling off CR

When does the clock start running on when a closed card will fall off your credit report in a situation where you continue pay down the balance after the card is closed out? Does the time run from the date the card is closed or from the date of the last payment made?

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Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 1 of 8
7 REPLIES 7
09Lexie
Moderator Emerita

Re: When does the clock start for old cards falling off CR

From the date the balance is zero. Although closed, if it has a balance it will still report. Keep in mind that a closed acct with a balance will negativity affect your util.
Message 2 of 8
red259
Super Contributor

Re: When does the clock start for old cards falling off CR

Thanks. The balance was paid off a year or two ago, so its just helping with the AAoA for now and the foreseeable future. Without that account I think this credit journey would be even tougher for sure.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 3 of 8
09Lexie
Moderator Emerita

Re: When does the clock start for old cards falling off CR

Hopefully, it will stay on our CR's for 7-10 yrs. I had an auto loan that was showing PIF as of6/2008 for my BMW- on my EX/EQ but not on good ol' TU. I requested an update with TU and sure enough they updated it right off my cr. I checked my other 2 CR's and it was gone from there too!

I should have left it alone and explained the discrepancy if needed.
Message 4 of 8
Rhaeny
Valued Contributor

Re: When does the clock start for old cards falling off CR


@09Lexie wrote:
Hopefully, it will stay on our CR's for 7-10 yrs. I had an auto loan that was showing PIF as of6/2008 for my BMW- on my EX/EQ but not on good ol' TU. I requested an update with TU and sure enough they updated it right off my cr. I checked my other 2 CR's and it was gone from there too!

I should have left it alone and explained the discrepancy if needed.

Damn!, it seems as if the CRA's always do what is worse for you in just about any situation.  If this was a negative account that should have been off of your report already, they probably would have re-aged it to today's date and told you that they won't investigate it anymore. 


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 5 of 8
LS2982
Mega Contributor

Re: When does the clock start for old cards falling off CR


@red259 wrote:

Thanks. The balance was paid off a year or two ago, so its just helping with the AAoA for now and the foreseeable future. Without that account I think this credit journey would be even tougher for sure.


10 yrs YMMV it should stay reporting. I know EX keeps it on the longest out of all 3 bureaus.




EQ FICO 548 3/3/16
Message 6 of 8
goosedog
Regular Contributor

Re: When does the clock start for old cards falling off CR


@LS2982 wrote:

@red259 wrote:

Thanks. The balance was paid off a year or two ago, so its just helping with the AAoA for now and the foreseeable future. Without that account I think this credit journey would be even tougher for sure.


10 yrs YMMV it should stay reporting. I know EX keeps it on the longest out of all 3 bureaus.


I have a auto loan on my credit reporting still showing paid off with a zero balance as of 2005, so auto loans can be 8-10 years, credit cards, i would say if a charge off will drop in 7, but for positive closed accounts could stay on there for 10 years depending on your credit file.

Message 7 of 8
guiness56
Epic Contributor

Re: When does the clock start for old cards falling off CR

It depends on why the card was closed.  Was it closed due to only late payments or was it charged off or sent to collections?

Message 8 of 8
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