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Negatives that are considered positives and can remain forever

axxy
Regular Contributor

Negatives that are considered positives and can remain forever

How many different ways can negative information remain on your credit file forever by being considered positive for the purposes of determining what negatives will eventually age off?

 

For example, if a credit card account shows a limit of $10,000, and a high balance of $15,000, it implies something went wrong, which is vaguely negative.  If the high balance was more than 7 years ago, it should in theory no longer be shown.  But if it's considered positive, it can be shown forever.

 

What other kinds of negative info can remain forever by being considered positive?

 

Message 1 of 6
5 REPLIES 5
pizzadude
Super Contributor

Re: Negatives that are considered positives and can remain forever

 

 

Late payments drop at ~7yrs from the date they occurred.  Charge~offs and Collections drop at ~7.5yrs from the DOFD ( date of first delinquency ).

 

Positive accounts drop at ~10yrs from the date closed.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 6
axxy
Regular Contributor

Re: Negatives that are considered positives and can remain forever

If an account is not closed, it can remain forever, even if it has negatives such as showing a $15,000 high balance on a card with a $10,000 limit.  That's the point of this thread.  To ask what other negatives can remain forever by not being considered negatives.

 

Message 3 of 6
takeshi74
Senior Contributor

Re: Negatives that are considered positives and can remain forever

If it's not considered a negative then how is it a negative?

 


@axxy wrote:

For example, if a credit card account shows a limit of $10,000, and a high balance of $15,000,


Unless it's a card that allows one to exceed the limit.  Or limits were reallocated.  High balance versus limit on its own isn't sufficient to indicate a negative.

Message 4 of 6
OpenG
Established Contributor

Re: Negatives that are considered positives and can remain forever

 
Message 5 of 6
OpenG
Established Contributor

Re: Negatives that are considered positives and can remain forever

I have a card with a $800 high balance an a $400 limit. The reason the card sat unused for several years so they reduced the available credit. So I don't think much info can be gained from it, also you can ask for a CLD on an account and have the same issue.
Message 6 of 6
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