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Established Member
Posts: 25
Registered: ‎09-15-2007
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If an account has been CLOSED for over 7 years should I have it DELETED

I have accounts that is older than 7 years old and would like to know if I have them DELETED will it affect my score negatively or positively? Experian shows a lot of old closed accounts older than 7 years, however Transunion and Equifax does not list them anymore. Transunion is higher than Experian and Transunion has a "Collection" account when Experian dosen't show the collection account. WOW, how is that possible. Any advice?
Frequent Contributor
Posts: 301
Registered: ‎07-25-2007
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Re: If an account has been CLOSED for over 7 years should I have it DELETED

It is my understanding that closed accounts stay on your report for ten years after it has been closed.

Personally, I would keep the account on. Since it has been 7 years, even if you did have late payments on the account they will have fallen off by now, and having it removed even earlier will probably decrease the average age of accounts, which might lower your FICO a little.

Starting Score: EQ 773, TU 766
Current Score: EX 794, EQ 787, TU 776
Goal Score: 800


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Established Member
Posts: 25
Registered: ‎09-15-2007
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Re: If an account has been CLOSED for over 7 years should I have it DELETED

Thanks so much for the quick response. It greatly appreciated.
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: If an account has been CLOSED for over 7 years should I have it DELETED

Closed accounts in goodstanding stay on your reports for up to ten years after they are closed and help your scores. As far as FICO scoring goes, these closed, goodstanding accounts are weighted equally with open goodstanding accounts. So you obviously want these to stay on your reports as long as possible.
 
Accounts that have charged-off and collections stay on for 7 years after the date of first default. These you don't want...get them deleted!
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Member
Posts: 15
Registered: ‎09-08-2007
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Re: If an account has been CLOSED for over 7 years should I have it DELETED

Accounts that have charged-off and collections stay on for 7 years after the date of first default. These you don't want...get them deleted!
 
Can you get these deleted before 7 years ?
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: If an account has been CLOSED for over 7 years should I have it DELETED



Scorpio1 wrote:
Accounts that have charged-off and collections stay on for 7 years after the date of first default. These you don't want...get them deleted!
 
Can you get these deleted before 7 years ?


Yes it is possible! PFD (pay for delete) if unpaid, GW (goodwill) if paid. Here are some helpful threads.
 
 
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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