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closed credit cards still on credit report

New Member

closed credit cards still on credit report

I just got my credit report and there are credit cards (that have been closed for years) still on my credit report.  Legally, how long are they supposed to stay on your report after being closed? Also, would I write the actual credit card company asking them to take it off, or write a dispute letter with myfico??

 

Thanks in advance!

 

Liz

Message 1 of 16
15 REPLIES
Established Contributor

Re: closed credit cards still on credit report

Hi Liz,

 

I believe closed accounts will remain on the reports for 10 years. However the closed account will be automatically deleted from the CRA's. 

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Message 2 of 16
New Member

Re: closed credit cards still on credit report

I have one from 1998 that is still showing up, but shown as closed.  Should I write them a letter?

 

So they closed accounts don't factor into my fico score? In my score analysis it says that I have too many accounts which is hurting my score, but alot of them are closed ??

 

For some reason a few years ago I got into alot of debt and just paid everything off and closed all of my accounts. I truly didn't realize that a long history with a CC is good for your score.  Live and learn Smiley Sad

 

Thanks for your help!

Message 3 of 16
Established Contributor

Re: closed credit cards still on credit report

Was the closing date of the account in 1998?

 

A closed account wont affect your score in general, however it can have an impact on your debt to credit ratio since the credit limit from the closed account is factored out of the equation. 

 

Success is all about learning from mistakes. And yes, obtaining new CC's can shoot down your average age of credit history. My advice is stick to a couple of credit cards you really love and dont app for anymore unless you really need it. 

AMEX Gold Premier Rewards | SPG AMEX | Bank of America Power Rewards | Merrill Plus | United Presidential Plus | Saks World Elite
Message 4 of 16
New Member

Re: closed credit cards still on credit report

It was opened in 1998 and closed in 2000...so I guess it comes off next year??  Thank you so much for your help!!!  I am definitly keeping all of my credit cards from now on...I have zero balances and no late payments so I'm really trying my best Smiley Happy

Message 5 of 16
Senior Contributor

Re: closed credit cards still on credit report


nyclizzo wrote:

It was opened in 1998 and closed in 2000...so I guess it comes off next year??  Thank you so much for your help!!!  I am definitly keeping all of my credit cards from now on...I have zero balances and no late payments so I'm really trying my best Smiley Happy


unless there is negative info. recorded on the acct it is helping you to have it appear on your report.  why would you want it removed?  once it falls off your report you will lose the age of the acct. and the age helps your score.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
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Message 6 of 16
Moderator Emerita

Re: closed credit cards still on credit report

Definitely hang on to them as long as you can, especially if they're clean.

If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 16
New Member

Re: closed credit cards still on credit report

I wanted it removed b/c I have too many accounts...I have like 10 closed accounts (I was young and stupid) and have 6 open accounts right now so it looks like alot...

 

Thanks for the input Smiley Happy

Message 8 of 16
Moderator Emerita

Re: closed credit cards still on credit report


nyclizzo wrote:

I wanted it removed b/c I have too many accounts...I have like 10 closed accounts (I was young and stupid) and have 6 open accounts right now so it looks like alot...

 

Thanks for the input Smiley Happy



Oh, shoot, that's a drop in the bucket! Smiley Very Happy

Wait till you read about some of our more, umm, extreme members.

Seriously, though, lenders aren't going to question the presence of closed accounts. They know that people open accounts for all sorts of reasons, especially store cards for a one-time discount or something.

I've heard all sorts of reasons given for denials, but not that one. I think you're in good shape.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 9 of 16
Frequent Contributor

Re: closed credit cards still on credit report

Accounts are in good standing usually stay in report for 10 years MAX. All accounts over 10 years are automatically REMOVED regardless of good or bad accounts. 

 

Message 10 of 16