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robertg57

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Negative impact to your credit score from closed accounts
Do closed accounts on your credit report negatively impact your credit score? I have noticed a variety of closed accounts on my credit reports and not sure if they are impacting my credit score.

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Yes, they do.  I suggest playing with the score simulator program on this site and play with the numbers to see what happens.  This is, of course, for your information only and never goes any further.

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With FICO, closed accounts do affect your credit, in what way depends on the status of the account. So the answer to your question is both yes and no. If an account is closed in good standing, it helps your credit. If an account was closed in negative status, it hurts your credit. "Closed" in itself is NOT a negative thing. NEVER try to remove accounts that were closed in good standing, that would HURT your credit.

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