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@Anonymous wrote:I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen.
But....
... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years. If that happens it will be because the creditor decided to remove it. That's uncommon but it can happen. If it does happen, then of course that account will no longer be included in any of the age-based calculations.
Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.
@merlinflex wrote:
@Anonymous wrote:I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen.
But....
... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years. If that happens it will be because the creditor decided to remove it. That's uncommon but it can happen. If it does happen, then of course that account will no longer be included in any of the age-based calculations.
Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.
Hi MerlinFlex. Do you mean (a) that you hope TT, RobertEG, and myself are mistaken that closed accounts sometimes leave your report early? Or do you mean (b) you hope that this just doesn't happen to you?
If (a) I promise you that it really does happen. It's well documented. If (b) you can be pretty confident it will not. TT can tell you more about his case history, but if I remember right it was because he was scrapping with the issuer, trying to get them to correct something in the report that wasn't quite right. They responded ultimately by deleting the account outright, which they are legally permitted to do. So as long as you just allow the account to sit there and are not pushing them to review it, you'll lower the already unlikely chance it will be deleted.
You are not planning to close your oldest open account, right?
@Anonymous wrote:
@merlinflex wrote:
@Anonymous wrote:I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen.
But....
... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years. If that happens it will be because the creditor decided to remove it. That's uncommon but it can happen. If it does happen, then of course that account will no longer be included in any of the age-based calculations.
Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.
Hi MerlinFlex. Do you mean (a) that you hope TT, RobertEG, and myself are mistaken that closed accounts sometimes leave your report early? Or do you mean (b) you hope that this just doesn't happen to you?
If (a) I promise you that it really does happen. It's well documented. If (b) you can be pretty confident it will not. TT can tell you more about his case history, but if I remember right it was because he was scrapping with the issuer, trying to get them to correct something in the report that wasn't quite right. They responded ultimately by deleting the account outright, which they are legally permitted to do. So as long as you just allow the account to sit there and are not pushing them to review it, you'll lower the already unlikely chance it will be deleted.
You are not planning to close your oldest open account, right?
No, not my oldest account(s), which are Amex going back 20 years. It is two credit cards at Cap1, from 2008 & 2010, and consolidating those to a newer card from 2015.
@Anonymous wrote:
@merlinflex wrote:
@Anonymous wrote:I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen.
But....
... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years. If that happens it will be because the creditor decided to remove it. That's uncommon but it can happen. If it does happen, then of course that account will no longer be included in any of the age-based calculations.
Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.
Hi MerlinFlex. Do you mean (a) that you hope TT, RobertEG, and myself are mistaken that closed accounts sometimes leave your report early? Or do you mean (b) you hope that this just doesn't happen to you?
If (a) I promise you that it really does happen. It's well documented. If (b) you can be pretty confident it will not. TT can tell you more about his case history, but if I remember right it was because he was scrapping with the issuer, trying to get them to correct something in the report that wasn't quite right. They responded ultimately by deleting the account outright, which they are legally permitted to do. So as long as you just allow the account to sit there and are not pushing them to review it, you'll lower the already unlikely chance it will be deleted.
You are not planning to close your oldest open account, right?
My account, which was closed in late 2009 due to BB changing from Cap One to CBNA, had a CL of $5000. However, at some point Cap One started reporting the CL as $300. It appeared the low CL, even though the card was closed, was impacting my CBIS score. I sent Cap One a letter asking them to correct the CL along with supporting documentation. Their solution was to remove the account.