Confused about closed accounts: Should I try to have them removed if they were in goodstanding?

[Anonymous]

I have some old closed credit cards on my credit report that I foolishly closed when I was younger. However, all of the accounts were never delinquent, payments always made on time (and in full) and closed out in complete goodstanding. These cards had been opened in 2001, 2004 and 2007.

Do these still hurt my credit rating by lingering around on my report or do they actually help by showing good credit history?

I know these will drop off automatically in 10 years, but I was wondering if it would help my boost my credit score if I attempted to have these closed credit cards removed from my credit report by issuing some goodwill letters.

I have been told conflicting advice. Some say only closed accounts that showed any late payments hurt your credit score and others have said ANY closed accounts hurt your score. Any advice would be greatly appreciated.

[rmduhon]

They are helping your scores so don't mess with them.

[Anonymous]

I'm going through a rebuild process right now and I am trying to figure this out. Here is my problem. They say good trade lines drop off after 10 years but my EX report is showing CC's back to 1995 that have been close for many years and have a very high score with EX. Now EQ and TU show only a 7 to 8 year history because they dropped all good trade lines after the 10 mark and my score with them is 100 point lower. Both TU and EQ show one 5 year medical collection that EX does not show but it's not a 100 point hit, maybe 25 max. I have talked to TU's corporate office in Chicago twice about this to see if they would put my oldest card back on my credit report and they said NO. I said "you know this is killing my FICO score right" she simple said "we will NOT put it/them back on the report. By law we have the right to drop them off". I said "by law you have the right to but the law does not say you have to". Her response to that was classic. "Sir is there anything else I can help you with". Here is my opinion, TU and EQ want to gain market shares with their Advantage Score 3.0 and if they limit the info to FICO it messes with the FICO algorithm and score. Thoughts anyone?

[rmduhon]

Actually, that collection could be worth 50 points or more. The CRA's usually delete closed accounts after about 10 years, but it's not a hard and fast rule. Sometimes they are deleted before 10 years and sometimes they stay past the 10 years. But once it gets removed due to age it's gone for good.

[Anonymous]

I had a Capital one CC that was not mine show up on my credit report April 2016, I didnt see it untill April 2017, disputed on April 8th 2017 and it was removed on May 16th and my score went up 26 points. The lower the score the higher impact. Higher score, lower impact. You are correct, sometimes they remove and sometimes not. In my current situation, TU and EQ has removed and EX has not and their is better than 100 point differance based of FICO score. 

[Anonymous]

Keep positive trade line history as long as you can. 30% (if my memory serves me correct) of FICO score is credit history. 

[Anonymous]

Thanks for the replies and advice!