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Is My Credit Report Supposed to Show My Closed Accounts?

Dear Experian,

Should closed and paid off accounts be taken off my report or does that not matter?

– JOM

Dear JOM,

Even though an account is paid off and closed, it won’t be removed right away. Your credit report serves as a history of your credit accounts and a record of how you paid on them. . Your lender will update the status of the account to reflect that it is now closed and there is no longer a balance owed, but the account history will remain on the credit report.

Closed Accounts That Show Late Payment History

If the accounts were late prior to being paid and closed, they will remain on the report for seven years from the original delinquency date, or the date they first became late and after which were never again brought current. Once they reach that seven year mark, the account will be removed automatically from the report.

The longer ago the late payments occurred, the less impact they will have on your credit history and your credit scores.

Closed Accounts That Show They Were Never Late

If the accounts are positive accounts, meaning that they show no late payment history, they will remain on the credit report for up to 10 years from the date they were closed. Positive accounts are kept on the credit report longer, giving you credit for those on-time payments.

Even after an account is closed, its positive payment history will be reflected in your credit scores, so keeping it on your credit report is beneficial.

Thank you for asking,
The “Ask Experian” Team

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