Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
kitos08

0 Contributions
0 People Helped
Closed Accounts: Once fully paid, are late payments removed from credit report?
I'm trying to build my payment history percentage and was curious if closed accounts have an impact on that? The accounts I have a few missed payments are on active accounts but my closed account (which I know I've missed payments on) doesn't show up in my "missed payment" section. If an account is closed, are those payment histories removed from your report as well?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1777 Contributions
3024 People Helped

Closed Accounts stay on your Credit Report for 7 Years,   Lenders will see those accounts along with the Late Payments.   

The Late payments may not show up as part of the Calculation for the Credit Score ( Vantage 3.0 ) but other types of Credit Scores might take them into account.  Not All Credit Scores are caculated the same way.

Lenders can look at anything on your Credit Report.   So if you see it then they can see it.

I would say  DO NOT CLOSE your Accounts that have Late Payments.    Keep them active,   and just wait out the 7 years from the time of the last late payment on the account to roll off.  Yes 7 Years is a long time, but you have nothing but time on your side.

Good Luck

Credit Karma Team
Top Contributor
2949 Contributions
4622 People Helped

Late payments remain on your credit report for seven years as part of your credit history. 

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.