This board is fantastic...I have just spent hours going back through pages and pages of posts hoping to find my answers but didnt. I hope someone out there can help me. Here are my questions: 1. How long do closed accounts stay on your credit report? I have accounts on there that were closed back in 1991 but are saying last reported 5-96. 2. If I had an Experian credit report from Sept 99 saying that a closed account is scheduled to stay on record until 12-2000...why is it still on my June 2002 credit report saying closed account is scheduled to stay on file until 12-2003? I have a few accounts like this. 3. I have 27 positive accounts reported on Experian but 17 are closed and have been closed for at least 4 years or more...do these closed accounts reflect my credit score? 4. Can I have closed accounts removed from my credit report? My CR is 20 pages long and most of the accounts are closed and have been closed for quite a few years. 5. When disputing online...do I have to do each separately? I have a couple of accounts that say closed at credit grantors request when it was me who requested the account be closed. Thank you in advance for any and all help!!!
Welcome to the board. Positive accounts stay on your report for 10 years from the DOLA. Derogatory accounts stay on your report for 7 years from the DOLA. This is happening because for whatever reason the original creditor continues to update your account, thus pushing the DOLA further down the road. If this is happening with positive accounts only, don't worry about it, it's not hurting you. BTW, DOLA stands for date of last activity. Yes they do reflect your score. The older accounts are boosting your score, not hindering it. The longer your history, the better. You can, but there is no good reason for you to do this. You run the risk of having several problems arise if you do, such as: Shortening your credit history, which in turn can lower your credit score, and also having a fraud alert placed on your report, the CRA's might find it odd a consumer would dispute a positive account, something that is helping them, rather than leaving it be. Whether you dispute online, by phone, or by mail, it is recommended you dispute no more than 3 or 4 accounts at a time, otherwise you may run the risk of being labeled as "frivolous" by the CRA's, thus causing you difficulties when submitted future disputes. As far as the "closed by credit grantor" statement, just dispute that as "closed by consumer". I don't believe it affects your score, however when a potential creditor sees that "closed by credit grantor" statement, they might "wonder" why that was so, and decide not to extend you credit.
Thank you so much!!! I guess the only thing I need to do with my CR is dispute those "closed by credit grantor"
