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Songbird2017

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Why do closed accounts count against you?
My equifax report states that I have 10 total account open which is affecting my score. However 2 of those account have closed and are listed as being closed. I don't understand why those count against my score if they closed. Please explain.

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Closed accounts which were negative remain on your credit report for 7 years.   Closed accounts which were properly paid and closed will remain on your credit report for 10 years.    10 accounts in itself is not a negative impact to your credit report.   The more positive accounts you have the better for the credit profile.

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Anything on your credit reports will affect your credit and this includes closed accounts. How the closed accounts affect your credit depends on the status of the accounts. Never try to remove accounts that were closed in good standing. I strongly recommend that you do some reading on all of this to get a better understanding.

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