How long does a cc company keep your negative account info?

[Anonymous]

I'm sorry if this is posted in the wrong place.

This is kind of a stupid question but I was just wondering how long a credit card company (specifically wondering about GEMB Mervyns) keeps your negative account info in thier system. My account was closed in 2007. Will they keep the info for 7 years since that is how long it will stay on my credit reports?

[guiness56]

A creditor can keep information forever. 

I have an old video rental account that went south 21 years ago.  To this day it is still in their system.

[llecs]

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@guiness56 wrote:

I have an old video rental account that went south 21 years ago.  To this day it is still in their system.

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Memory unlike a goldfish.

[mauve]

I resent the derogatory comment about goldfish.  I had a goldfish that definitely had a memory beyond the urban-legendary 3 seconds. To answer OP's question, expect the negative info on the account to drop off of your credit reports in 2014 and for the account to turn positive then and remain on your reports until 2017.  The company itself may keep the information in their system forever.

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@llecs wrote:

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@guiness56 wrote:

I have an old video rental account that went south 21 years ago.  To this day it is still in their system.

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Memory unlike a goldfish.

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