Positive Accounting Reporting Length

[omskillet]

Do you positive accounts remain on your credit report for 10 years after the date opened or 10 years after the date first reported to the CBs?

For instance I have a loan opened 7/2002 and first reported 10/2004. This TL has a string of 7 30 lates because the lender changed my due date and my autodraft continued to pay late for that period of time.

Can I expect this account go away 7/2012 ( 10 years from date opened )?

[MarineVietVet]

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@omskillet wrote:

Do you positive accounts remain on your credit report for 10 years after the date opened or 10 years after the date first reported to the CBs?

For instance I have a loan opened 7/2002 and first reported 10/2004. This TL has a string of 7 30 lates because the lender changed my due date and my autodraft continued to pay late for that period of time.

Can I expect this account go away 7/2012 ( 10 years from date opened )?

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It's from the date of closing. Is this still an open, active account?

[omskillet]

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@MarineVietVet wrote:

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@omskillet wrote:

Do you positive accounts remain on your credit report for 10 years after the date opened or 10 years after the date first reported to the CBs?

For instance I have a loan opened 7/2002 and first reported 10/2004. This TL has a string of 7 30 lates because the lender changed my due date and my autodraft continued to pay late for that period of time.

Can I expect this account go away 7/2012 ( 10 years from date opened )?

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It's from the date of closing. Is this still an open, active account?

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I see...10 years after the closing date. This is a closed account reporting as "Pays as agreed". The closing date was 7/2006.

Thanks!

[MarineVietVet]

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omskillet wrote:

I see...10 years after the closing date. This is a closed account reporting as "Pays as agreed". The closing date was 7/2006.

Thanks!

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Once the last late payment drops off (if it hasn't already) then it will become a positive account for the remainder of the time until 7/2016.

[kjm79]

And just to add, some accounts don't always just disappear after that ten year period.  Sometimes you get lucky and they stay on longer.  For example, my oldest tradeline is from 1999.  Jewelry account opened and closed in 1999 in good standing.  Should've fallen off in 09 sometime.  Still there.  EX has the estimated date of removal as sometime in 2021.  Every few months it updates and the estimated removal date gets pushed back even further.  I'm not gonna complain. 

[MarineVietVet]

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@kjm79 wrote:

And just to add, some accounts don't always just disappear after that ten year period.  Sometimes you get lucky and they stay on longer.  For example, my oldest tradeline is from 1999.  Jewelry account opened and closed in 1999 in good standing.  Should've fallen off in 09 sometime.  Still there.  EX has the estimated date of removal as sometime in 2021.  Every few months it updates and the estimated removal date gets pushed back even further.  I'm not gonna complain. 

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Very true. I've had one account (just one    ) that was opened in 1988 and closed probably less than a year later. But it continued to report as being open until 2009. So I will have about 7 more years on this when in most cases it should have been gone 14 years ago.

So to omskillet I say "May you be just as fortunate as we were!"

[RobertEG]

It's an area of credit reporting that the FCRA does not deal with.

Deletion of accounts after approx ten years from closing is a totally arbitrary practice on the part of the CRAs to clean out their databases.

I guess they presume that all adverse item exclusion periods have expired, and thus they have no need to continue monitoring them. So, Poof!

They obviously dont care about the negative impact on consumers, loosing points in AAoA and often their oldest account.

[webhopper]

I have a Gordon's Jewelers account opened in 2003 that continues to report as open, pays as agreed... So I called CBNA, and they have no record of the account... I wanted to see if the account was indeed open, as I wanted to keep it in my portfolio due to the account age... Was able to do this with a 2003 JCPenney Account that was still open but inactive. I requested them to update my address, send me a card. I used it to go buy some pantyhose lmao  Scores jumped 10 pts