Closed Accounts

[mystikal1]

Closed Accounts factor in you AAoA correct? If they were closed in good standing, does that mean they will stay good for 10 years from DOLA? I have 1 account that looks like it will drop off next year so I am wondering how much will that knock my AAoA when it drops. Currently my AAoA is 3 yr 11 months hoping it gets to 4 years soon (EQ only) other 2 are higher.

[smallfry]

Accounts might remain for 10 years and might not. As for figuring your AAofA it's easy. Add up the total months of all your accounts since they were opened and then divide by the total number of accounts. 

[RobertEG]

The FCRA only regulates how long derogatory information may remain in your CR, not how long positive informtion must be retained.

I have closed accounts that are still included in my CR after 20 years. 

No one can tell you for sure.  It is up to the CRAs to decide when to stop including your closed accounts in your CR.  As long as they remain, they willl be scored by FICO.

[RobertEG]

There is another reason why the CRAs may retain old accounts for as long as their database capacity permits.;

The prohibitions of FCRA 605(a) against including derogs in ones credit report (7 years for most derogs) are specifically exempted under FCRA 605(b) for credit transactions for a principal amount of $150,000 or more.

This includes most mortgage transactions. 

They can be reported forever, without restriction.