Is the closed account a factor in the score???

[CreditBob]

Once you pay off a car loan, installment (personal loan), mortgage loan, close a credit card account, or pay off any other account, the closed account factor has not influence on your fico score. It looks at the open accounts. The only thing thta a closed account will do is let other creditors know twhat types of loans you have had before. For example it is easier to get another car loan because a creditor will see that you have had a prior vehicle loan. The only downfall is that all closed accounts stay on your credit report 10 years from the clsoing date. No matter what happens always have two or three major credit card accounts left open. I am talking about visa, mastercard, american express. Departmet store cards such as RC Willey, Sears, gas station cards are less of an impact on your fico score. In other words they score less points.

[Anonymous]

One exception, as far as I know: FICO takes note of which account is your oldest and which account is your youngest, overall. A closed account that still appears on your report (such as a mortgage from a previous home, that was paid off less than 10 years ago) can still represent your oldest account. However, I'd think it would carry less weight than the average age of your open revolving accounts.

[Tuscani]

---

Revike wrote:
One exception, as far as I know: FICO takes note of which account is your oldest and which account is your youngest, overall. A closed account that still appears on your report (such as a mortgage from a previous home, that was paid off less than 10 years ago) can still represent your oldest account. However, I'd think it would carry less weight than the average age of your open revolving accounts.

---

Correct. Closed accounts still count against your history.. but an aged open account would hold more weight.

[R_W_]

I know this is an old post, but I wanted to know if this is still true.  I have a paid/closed mortgage that a few 30 day lates on it 4-5 years ago.  I was going to ask the Ceditor to just remove it from teh credit bureas since it is no longer active, not my only paod mortgage and not my oldest account.  But if it isn't being calculated into my score there is no point.... could someone confirm this for me please?