I know closed accounts in good standing count for up to 10 years for aging, but they do not count for accounts with balances for scoring purposes correct? I'm sure I've seen the answer here somewhere but didn't find confirmation of it when I searched.
Open or closed accounts with balances count towards your individual and aggregate util %'s. CO's also. The worst.
@Zoostation1 wrote:I know closed accounts in good standing count for up to 10 years for aging, but they do not count for accounts with balances for scoring purposes correct? I'm sure I've seen the answer here somewhere but didn't find confirmation of it when I searched.
1. Closed accounts continue to be factored into aging for as long as they appear in your reports, and 10 years is a common number mentioned in this forum. But there is no guarantee they will continue to be reported for 10 years; and on the other hand they may be reported for even longer.
2. If the closed account has a balance, the balance will be factored into utilization, but the limit will not be.
I should have clarified, closed with a 0 balance in my original post. I've been aware that if they have a balance they can hurt utilization pretty bad having a balance. I'm not planning to close anything anytime soon but wanted to confirm for future reference.