How to they count age of credit?

[Anonymous]

I have a Macy's account that I very rarely use. I've had 2 lates in the past that I can not seem to get removed.  If I close the account, will that disappear from my credit report and possibly boost my score?  It's not my oldest account.  It has been paid off for some time already.

Do they count credit longevity based on your oldest line of credit and that's it? Or are there other factors that go into it?

[annielorie]

if you close the account the lates will still be there and will report for 7 years from date of lateness also closed accounts wheather good or bad usually stay on credit reports for ten years

[Jutz]

Haha, I wish it was easy as closing a CC to make it disappear from my CR.  Lates on Lates on Lates.  How old are the lates on your Macy's card?  They have less value after time, i think 2 years and they factor much less

[Shogun]

Tricky scoring this one.  You have two lates, but what is your AAoA?   The lates will fall off within 7 years plus 180 days of the occurrence of each of them.

[Anonymous]

Ok good to know.  I just keep reading about people paying off/settling and then closing the accounts...I was trying to figure out why.  The 2 lates were from 2007 and 2010. I've had the card since 2004.

I'll just keep trying the GW letters!