cancel
Showing results for 
Search instead for 
Did you mean: 

Old loans still showing on credit report

Member

Old loans still showing on credit report

We have had several personal loans over the years with the same loan co (Citifinancial) where we have refinanced, and they are all showing as separate trade lines on our credit reports.  They are all showing "OK" status- is it better to leave them up there or try to have them removed if they are over 7 years old?

Message 1 of 6
5 REPLIES
Epic Contributor

Re: Old loans still showing on credit report

Accounts that closed in good standing will stay for up to 10 years.

 

When you refinance a loan they will normally report as a new one with the old one showing paid and closed.

Message 2 of 6
Valued Contributor

Re: Old loans still showing on credit report

If the accounts were in good order when closed, then it's to your benefit to have them there. Closed accounts in good order should stay on for 10 years.
Message 3 of 6
Valued Contributor

Re: Old loans still showing on credit report

Sorry, guiness! Replied at the same time you did -- only seconds too slow!
Message 4 of 6
Highlighted
Moderator Emeritus

Re: Old loans still showing on credit report

+1

 

You would want these to stay on your CR.  They are positive TLs that will add to your AAoA.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 6
Member

Re: Old loans still showing on credit report

Thank you! Just wanted to make sure they were helping and not hurting! I need all the help I can get! Smiley Happy

Message 6 of 6