Do closed accounts on your credit report hurt or are they pretty much there for show until the 7 yea

I know they hurt your score because of the longevity you had and also you now have lesser amount of available credit but do they still hurt when creditors see this?

Do closed accounts on your credit report hurt or are they pretty much there for show until the 7 years is up?

If the accounts were paid well they help your score. If paid poorly, they will hurt it regardless of if they are open or not.. Closing a credit card account for instance, doesn%26#039;t necessarily hurt your credit, it is just that the longer these accounts are open and paid well, the more it will help your score.

Do closed accounts on your credit report hurt or are they pretty much there for show until the 7 years is up?

Well, first off, it depends on how the accounts were closed, which you don%26#039;t specify. Were they closed by you, or were they closed by the creditors due to non-payment?

If they were closed by you, they aren%26#039;t considered negatives by creditors, but closing them *will* lower your credit score due to the reasons you mentioned (the total amount of credit extended to you is reduced, and you no longer have an open history with those creditors). There%26#039;s really no good reason to voluntarily close open accounts in good standing because of this.

If the accounts were closed by the creditors due to non-payment, then obviously, they will hurt your credit score and be viewed upon negatively by future creditors.

Either way, all accounts *will* continue to appear on your report for seven years from the date of closure.

Do closed accounts on your credit report hurt or are they pretty much there for show until the 7 years is up?

I had a lot of closed accounts on my credit report. My first credit card was there and that was over 10 years old. My accounts were paid on time and in full then closed. Some were still open that were paid off. When I got them off my report my credit score went up and I felt better getting rid of all that dead weight. You want creditors to see that you閳ユ獧e good at paying your bills for a long period of time, but you don閳ユ獩 need to show just how in debt you can get.

The old credit cards came right off, but a car I no longer have is there for the 7 years.

Do closed accounts on your credit report hurt or are they pretty much there for show until the 7 years is up?

if you have a card that has always been paid on time and no balance exist cancel it!!!