Open trade line that stopped reporting.

[Anonymous]

So this is the case: I had found an old trade like that I opened in 2006 and paid off in 2009. To my surprise this is still an active account! But they stopped reporting it in 2016. They said because it was 7 years after my last payment.

My question is, as long as it's an open trade line shouldn't it continue to report until it is closed? They told me if I purchase something on the account that they would continue to report again. And that it wouldn't be a new account but the same account number so I would have an active trade line with a $2500 limit dating back to 2006. This would then be my oldest account and I think would tremendously help my current credit situation.

But why would they stop reporting at all as long as the account is still active?

[Remedios]

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@Anonymous wrote:
So this is the case: I had found an old trade like that I opened in 2006 and paid off in 2009. To my surprise this is still an active account! But they stopped reporting it in 2016. They said because it was 7 years after my last payment.

My question is, as long as it's an open trade line shouldn't it continue to report until it is closed? They told me if I purchase something on the account that they would continue to report again. And that it wouldn't be a new account but the same account number so I would have an active trade line with a $2500 limit dating back to 2006. This would then be my oldest account and I think would tremendously help my current credit situation.

But why would they stop reporting at all as long as the account is still active?

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Technically, it's an open but inactive account as there's been no activity on it in over a decade. 

Reporting is not mandatory for lenders, however, if they chose to report, it has to be accurate reporting.

Without any activity for over 10 years, there is really no reason for them to continue reporting. 

If the account is truly open, it would stay on your CR for up to 10 years past the closing date.

If you decide you want to buy something and extend the period before it's permanently closed, you may do so. 

At the same time, if the account is open as you stated, than it's already "helping" you and you should not force yourself to buy useless trinkets.  

Which TL is this? 

[Anonymous]

This is through Harris Jewelers. The trade line no longer shows on my EX or TU, only EQ. They said they do report to all 3 CRAs. I went ahead and purchased something and seriously hope it doesnt pop up as a brand new trade line and it will indeed still show up as a line from 2006.

[800FICOGoal]

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@Anonymous wrote:
This is through Harris Jewelers. The trade line no longer shows on my EX or TU, only EQ. They said they do report to all 3 CRAs. I went ahead and purchased something and seriously hope it doesnt pop up as a brand new trade line and it will indeed still show up as a line from 2006.

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I would definitely try to keep the account open. I would work on getting them to restore the account on your EX and Tu reports.

[Anonymous]

Also, you stated it is already helping my credit report, but it isn't being updated at all. It is completely off of 2 CRAs and last reported on eq in 2016. Is it still helping there? This trade line doesnt even show up in a CK report or Experian 3 CB pull . Only reason I know it's there is by happenchance.

[Remedios]

It's not "helping" on reports that's it's not on.
You did not clarify in your first post which CRA is reporting it and which one is not.
If the resume reporting with original open dates on the other two, it will be "helping" there, too
It does not have to report to help with AAoA, it's mere presence increases it.
It's not adding to payment history any longer because none are being reported.

[RobertEG]

The FCRA only requries updated reporting to a CRA when the information previously reported has changed, and thus is no longer accurate.

See FCRA 623(a)(2).

If the account has been dormant ,then no information has become inaccurate, and thus no updated reporting is required untill something, such as the current balance, changes.

Credtiors can, and often will, additionally decide to delete the account in its entirety if unused over an extended period, thus avoiding the additional need to monitor the account for any need to send updated billing statements, which costs them time and money.

Obviously, if they choose to delete an entire account, then there is no requirement under the FCRA to make any updated reporting, as there is no information of record requring maintenance of its current accurate value/amount.