topic Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later?? in Credit Cards

Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

RobSteal — Fri, 24 Jun 2011 21:43:16 GMT

I just checked my credit reports and it shows my old AMEX Gold card (closed in 2000) is still reporting. Is that commonplace?

I thought AMEX stopped reporting after 10 years?

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

Anonymous — Fri, 24 Jun 2011 21:56:22 GMT

Please correct me if I'm wrong, but as I understand, if the account was always paid on time it can report forever.

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

RobSteal — Fri, 24 Jun 2011 22:31:33 GMT

Please correct me if I'm wrong, but as I understand, if the account was always paid on time it can report forever.

Hopefully that's true. It will definitely help my overall AAOA since this account was opened in 1997.

Can anyone verify?

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

Anonymous — Fri, 24 Jun 2011 22:40:37 GMT

From what I'm reading now it's definitely at least 10 years from DOLA ... But sometimes longer. I wouldn't complain at any rate

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

DI — Thu, 28 Jul 2011 23:34:13 GMT

@RobSteal wrote:

I just checked my credit reports and it shows my old AMEX Gold card (closed in 2000) is still reporting. Is that commonplace?

I thought AMEX stopped reporting after 10 years?

Was the account in good standing at the time of closure? It's possible for accounts to report longer than 10 years. I have a few closed accounts that's been reporting since 2000. While the account is still reporting, you can use it to your advantage. If you apply for another AMEX account you can get it backdated to year 2000 if they don't do it automatically. If they request proof of your 1997 account, you have it. The best thing do while the account is reporting is write down the account number. AMEX's account numbers on credit reports are not the same as the account number on the card.

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

MarineVietVet — Fri, 24 Jun 2011 23:24:40 GMT

@Anonymous wrote:
From what I'm reading now it's definitely at least 10 years from DOLA ... But sometimes longer. I wouldn't complain at any rate

I'm not sure where you are reading the part about DoLA but that is not correct. DoLA can mean several different things.

An account generally reports for up to 10 years after closing but in some cases it can report for even longer and that's a good thing.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

Anonymous — Sat, 25 Jun 2011 01:04:05 GMT

In that case, what about a closed account with derogatory information? Does that show for ten years or do the negatives drop off after seven years?

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

RobSteal — Sat, 25 Jun 2011 01:04:38 GMT

@MarineVietVet wrote:
@Anonymous wrote:
From what I'm reading now it's definitely at least 10 years from DOLA ... But sometimes longer. I wouldn't complain at any rate

I'm not sure where you are reading the part about DoLA but that is not correct. DoLA can mean several different things.

An account generally reports for up to 10 years after closing but in some cases it can report for even longer and that's a good thing.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Do you know a reason why some accounts like AMEX report for longer than 10 years?

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

MarineVietVet — Sat, 25 Jun 2011 05:03:11 GMT

@Anonymous wrote:
In that case, what about a closed account with derogatory information? Does that show for ten years or do the negatives drop off after seven years?

I could be wrong (I often am) but I believe the 10 years still applies but after the negatives drop off the account gains positive status for the last three of those years.

Let me ask around about that to make sure.

Re: Closed AMEX Account in 2000, Still Reporting on CR 10+ Years Later??

MarineVietVet — Thu, 28 Jul 2011 23:32:06 GMT

RobSteal wrote:

Do you know a reason why some accounts like AMEX report for longer than 10 years?

No I really don't. I had a LOC that was opened in 1988 and closed just a few years later but it didn't show as closed until last year. I definitely lucked out on that and it happens to a few people from time to time.

Count yourself very fortunate!