On my Experian CR some of my closed credit card accounts say paid. Others say closed. Is there a difference I need to worry about? All of these accounts have the comment "Account closed at consumer's request".
As long as you have "account closed at consumer's request" , balance $0, and never late...YOU GOT IT CORRECT!!!
To my knowledge the term 'paid' is reserved for accounts which are not revolving like loans. Closed is used for a revolving account(credit cards/lines of credit) which can never really be paid because the balances changes constantly. Review your report and make sure all credit card accounts which are no longer opened are closed. If you no longer use them call and cancel them. Ask for a 'closed by consumer' notation to be placed on your credit file. Make sure all loans which are paid off are marked 'paid'. Also if there are any lates on your report, correct them if inaccurate by disputing them. roni
