Credit Cards Center Credit cards from our partners
Reply
Member
Posts: 23
Registered: ‎01-21-2013
0

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?

Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

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.

Valued Contributor
Posts: 1,738
Registered: ‎01-23-2013
0

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.
Valued Contributor
Posts: 1,738
Registered: ‎01-23-2013
0

Re: Old loans still showing on credit report

Sorry, guiness! Replied at the same time you did -- only seconds too slow!
Moderator
Posts: 13,897
Registered: ‎04-15-2011
0

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!
Member
Posts: 23
Registered: ‎01-21-2013
0

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

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.