closed account in good standing when will it fall off?

[Anonymous]

all of the searching i do on google  and here on myfico returns results of people wanting to know when an old closed problematic account will come off their report. my issue is the opposite.

i had an autolease 13 years ago that was paid and closed in good standing 10 years ago (july 2008) i have not used credit at all in my life in any form until a little over a year ago when i decided i wanted to build up a good score to get the best rate mortgage sometime in the near future. So i currently only have that 10 year old account and 3 cc's i got in the past 14 months giving me an AAoA of 42 months. as it is my scores constantly list my credit as too young and im concerned my oldest account (the lease) will fall off when it hits the 10 year mark in july. anyone know how long good accounts stay on record?

[gdale6]

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@Anonymouswrote:

all of the searching i do on google  and here on myfico returns results of people wanting to know when an old closed problematic account will come off their report. my issue is the opposite.

i had an autolease 13 years ago that was paid and closed in good standing 10 years ago (july 2008) i have not used credit at all in my life in any form until a little over a year ago when i decided i wanted to build up a good score to get the best rate mortgage sometime in the near future. So i currently only have that 10 year old account and 3 cc's i got in the past 14 months giving me an AAoA of 42 months. as it is my scores constantly list my credit as too young and im concerned my oldest account (the lease) will fall off when it hits the 10 year mark in july. anyone know how long good accounts stay on record?

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Typically 10 years post close month so till July 2018 though some can get waylaid in the system and stay longer sometimes even many years.

[Anonymous]

Yes, it should fall off July 2018.

[Anonymous]

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@Anonymouswrote:

all of the searching i do on google  and here on myfico returns results of people wanting to know when an old closed problematic account will come off their report. my issue is the opposite.

i had an autolease 13 years ago that was paid and closed in good standing 10 years ago (july 2008) i have not used credit at all in my life in any form until a little over a year ago when i decided i wanted to build up a good score to get the best rate mortgage sometime in the near future. So i currently only have that 10 year old account and 3 cc's i got in the past 14 months giving me an AAoA of 42 months. as it is my scores constantly list my credit as too young and im concerned my oldest account (the lease) will fall off when it hits the 10 year mark in july. anyone know how long good accounts stay on record?

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Just an FYI... your closed auto lease is not a 10 year old account.  It is a 13 year old account.

The account should fall off very close to July, though it might June, July, or August.  If it works out that you can find the ideal home you want and finish final underwriting by June 1, then you are set.  But I would not rush that if the main worry is what would happen when the account falls off.  Buying the wrong house because you are in a rush would be far worse than getting a less than perfect interest rate.

Do you know someone with a very old credit card who could add you as an authorized user?  The card would need to have no lates and a zero balance -- but if you could find such a person with a card like that, then when the car lease fell off you'd still have a very old account.  Some lenders don't like it when you have an AU account like that, but many are fine with it.

[RobertEG]

Deletion of accounts once they reach approx 10 years from date of closure is not a deletion or exclusion provision that is based on any statute or regulation.  It is purely a housecleaning  policy that is implemented by  the CRAs to clean out dead wood.

Ten years is an arbitrary date selected so that deletion is not done until most derogs have already exceeded their normal credit report exclusion dates.

The actual date that the CRA chooses to do the deletion can vary widely, and is not disputable.

I personally had an old credit card remain in my report for 16 years after its closure date, but that is extreme.

Some here in the forum have posted CRA deletion of accounts as early as 8'ish years from closure date.

The standard is 10 years, but is not caste in stone.......