Should Closed Accounts Be Removed From My Credit Report?

Dear LLV,

When you pay off and close an account, the creditor will update the account information to show that the account has been closed and that there is no longer a balance owed. However, closing an account does not remove it from your credit report.

Your credit report is a history of your accounts and payments. For that reason, even closed accounts with a $0 balance will remain on your credit report for a period of time. How long an account remains on your credit report after being closed is determined by whether the account is considered positive or negative.

How Long Closed Negative Accounts Remain on a Credit Report

A negative account is any account that shows a history of late payments, called delinquencies. If a closed account has a history of delinquency, the account will remain on the credit report for seven years from the original delinquency date.

The original delinquency date is the date the account first became delinquent and after which it was never again current. Negative accounts are removed from the credit report automatically once they reach the seven year mark.

How Long Closed Positive Accounts Remain on a Credit Report

Experian keeps positive accounts on your credit report longer in order to give you credit for making payments responsibly. If an account is positive, meaning there are no late payments in the account history, it will remain on the credit report for up to 10 years from the date the account was closed.

Even after they are closed, accounts that show they were always paid on time will help you establish a strong credit history and boost credit scores, so keeping them on your report is beneficial.

Thanks for asking,
The "Ask Experian" Team