old account on credit report? how long?

Avatar for aerandel
iVillage Member
Registered: 03-25-2003
old account on credit report? how long?
3
Tue, 03-21-2006 - 7:38pm

How long do old (closed credit cards, paid off or consolidated loans, etc.) accounts stay on one's credit report? Just curious. I looked at my report today and saw an old Victoria's Secret card on there, it said it was closed, but it is still listed as an account. Also my original student loans are listed there as paid off, they were from before I consolidated. It makes for a long report that is hard to get through with all the old stuff on there!

Anyone know how long this stuff is on there? It's not like it's negative stuff or anything, just annoying!

                          

             

iVillage Member
Registered: 02-09-2004
Wed, 03-22-2006 - 8:14am
I don't know how long they stay on but I can tell you I have closed accounts on my credit report from over 10 years ago, actually probably closer to 15 years ago. It does make for a long credit report.

iVillage Member
Registered: 01-25-2006
Wed, 03-22-2006 - 10:17am

It stays on permanently as far as I know. Nothing appears to have 'fallen off' mine. I don't have any negative info so I know that stuff is supposed to fall off after a certain length of time but all my positive stuff is there. I think that is actually good. Part of your credit score is 'length of credit history' so that is a good thing. My credit report is around 8-10 pages long with no negative stuff so they get pretty long after a while (I've got a 20+ year credit history).

Peg

iVillage Member
Registered: 12-05-2004
Wed, 03-22-2006 - 1:55pm

I think there is some sort of time limit to when they fall off your report, but I'm not sure what the limit is. My very first camcorder was bought on a Bank One card back in 1994, and it's still on my report (paid off in 1995 and closed), but items from 1992 (Zales card to buy our wedding rings), and things before that (engagement ring, hubby's first car loan, etc) are all off, and those were in the early 90's). So there's got to be some sort of cut off date. Maybe it differs by the type of loan?

Pat :-D