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How long will it go away?

JaymesCheese
New Member

How long will it go away?

If I closed my credit card account today, how many years will it disappear on my credit report? I closed my BestBuy credit card back in 2005 and it never went away on my report. Any tips?

Message 1 of 6
5 REPLIES 5
mco7816
Frequent Contributor

Re: How long will it go away?

If it's in good standing you don't ever want it to go away 😅 But if it's bad then of course you would. Usually, 7 years from date closed.

FICO 8: 1/1/16 / 12/30/2016 [EQ: 518/681] [TU:522/714] [EX: 535/689] TCL: $108K INQ: 138 between the 3 NO MO CARD FOR ME

Message 2 of 6
RobertEG
Legendary Contributor

Re: How long will it go away?

The CRAshave an administrative housecleanng policy of deletion after an account has been closed for approx 10 years.

However, the deletion is not mandated under any provision of the FCRA, and thus can vary substantially from the 10 year policy.

 

You just wait and see.

Message 3 of 6
JaymesCheese
New Member

Re: How long will it go away?

My 2005 BestBuy account had some large gap late payments but it was paid off after it was closed. I can't tell if the account payment history still affecting my current credit score. The good about it was I paid it off.
Message 4 of 6
takeshi74
Senior Contributor

Re: How long will it go away?

If the lates are on your reports then the scoring models will consider them.  Any scoring model uses the data in a report to generate a score.

Message 5 of 6
JaymesCheese
New Member

Re: How long will it go away?


@takeshi74 wrote:

If the lates are on your reports then the scoring models will consider them.  Any scoring model uses the data in a report to generate a score.


Okay. I guess it does reflects my current score in some ways.

Message 6 of 6
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