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 Cards
Profile Image

Question By
IL5

0 Contributions
0 People Helped
How long does closed accounts stay on report?
I have several accounts that has been closed for several years, but they are still on report.

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-10 of 10Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
66 People Helped
Most Helpful Response

Helpful to 66 out of 76 people

Try writing to the credit reporting agencies first and reference the "Fair Credit Reporting Act" (FCRA) and the "Consumer Financial Protection Bureau" (CFPB).These Gov. Agencies will fine $$$$ the credit reporting agencies if they hurt you financially by not doing their required task of updating your credit report accordingly. I've had items removed before 7 years just by writing them a letter in a professional manner, clear and concise, to the point but stern and not insulting or condescending. send the letters cert.mail ret. receipt and sit back and watch the magic happen. They must respond within 30 days by law (not 30 business days) and if they cannot verify any information that your disputing they must delete the item(s) from your credit report never to be seen again. Make sure you provide as much info regarding the item as possible acct#'s name of bank or creditor, copy of your photo id and copy of a recent bill to prove you are who you say you are and contact phone numbers, if the creditor doesnt respond your score will go up. Don't hire a credit repair specialist all they do is drag it out so you can pay them for what you can do yourself, Good Luck!!!

5 Contributions
87 People Helped

Helpful to 65 out of 81 people

If your account was closed in good standing, there is no law requiring it to be removed from your credit report. It could stay on your credit report indefinitely and may help your score.

If the account was closed and had been delinquent then it should drop off in 7 years.

Reply by
Ngutierrez25

1 Contribution
0 People Helped

This month marks 7 years on an account that has been closed. How do i make sure it does in fact drop off my credit report? Thanks in advance

1 Contribution
36 People Helped

7 year drop off

Helpful to 36 out of 48 people

Ok I had some really hard times back in 2002 and again in 2008.  These are past 7 year mark.  How do I get them off my report?

1 Contribution
9 People Helped

Helpful to 9 out of 12 people

I have been helped a lot by doing the things I have learned here on Credit Karma. Four years ago my score was 570 and now is 790. I found out Trans Union had an open account last week and I called them to ask why. It wasn't on my other reports and I wanted to get it off there. After speaking to them they said they would check into it and I learned it was taken off. I know now that you have to watch what is being reported so you can take action. I know the only way to get things fixed are to do it yourself and the advise I get here let's me know how. Thanks Credit Karma

1 Contribution
4 People Helped

Closed Account after Bankruptcy

Helpful to 4 out of 4 people

Can I have closed accounts removed that were filed under bankruptcy?  I'm asking this as I see a few still on my report, and others are not.

1 Contribution
4 People Helped

Credit cards

Helpful to 4 out of 6 people

I want to pay off and close out credit cards account will this hurt my credit score?

Top Contributor

Reply by
FICOGrowth

14 Contributions
10 People Helped
Helpful to 7 out of 9 people

Paying off the balances is always a good idea, but closing the credit accounts could present a problem. For one,it might signal distress to a future lender. The immediate impact could crush your score, but you have eliminated any good utilization rates. Sometimes paying them down and keeping them open is a good thing. Sometimes its not. Be careful.

1 Contribution
2 People Helped

debt aaccount

Helpful to 2 out of 2 people

How llong after your charges have been paid off does it take for your record to reflect this information.  If it has been over 90 days can you contact credit bureau

1 Contribution
1 Person Helped

Old Credit Cards from 20 years ago!

Helpful to 1 out of 1 people

Honestly, I have old credit cards showing on my report from 20 years ago.  I wouldn't care but my report under "Total Accounts" says "poor".  I only use 2 credit cards now out of the 10 that are showing on Equifax (only 6 are showing on TransUnion by the way).  How can this be fixed?  It doesn't seem right for these closed accounts to be bringing my score down when they were closed in good standing and are THAT old.

Reply by
cracqal

1 Contribution
3 People Helped
Helpful to 3 out of 5 people

Accounts that are closed in good standing can remain on your report indefinitely and do not usualy have a negative impact on your credit score.   The "poor' rating on your Total Accounts may actually be due to having too few accounts or a poor account mix in your history.    

Lenders like to see a diverse account mix in your credit history.   You indicated that your Total Accounts includes some credit cards, but does it also includes Mortages, Auto Loans, Student Loans, Personal Loans, etc?  The more account types you have held and paid off, the better, as long as they are paid or paying in good standing.

1 Contribution
0 People Helped

I have the same issue.

1 Contribution
2 People Helped

Credit Karma

Helpful to 2 out of 11 people

Credit Karma sucks! Your score changes drastically every 7 days. How can that be accurate? It seems to run very low compared to my credit card fico scores. Don't even trust the scores they are feeding you. Every week it changes by a zillion points. Really!

Reply by
AprilRivers412

1 Contribution
2 People Helped
Helpful to 2 out of 3 people

This is true. I paid off my student loans and then my score dropped by 100 points. My financial advisor said it should have raised because the accounts were closed and in good standing. On my actual report, it HAD raised substantially.

Reply by
jrozycki

3 Contributions
10 People Helped
Helpful to 4 out of 6 people

A zillion points?  That's a lot.  I've used CK for about 5 years and it hasn't fluxuated much unless something caused it to.  It seems there's a lot of variables in place that may cause this.  My CK score has always been very close when I opened an account at a credit union and applied for a car.

Results 1-10 of 10Results 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.