All About Credit Reports

4 Responses to “Does Having Too Many Closed Accounts On Your Credit Report Negatively Affect You?”

1. Dominique N on February 9th, 2010 at 6:56 pm

   You shouldn’t erase your old history as that assists you over all in your credit scoring. Try not to close any credit cards in future, even if you don’t currently use them so that you seem to have more clout. Even better still use your credit cards to buy small items and pay off the balance in full. Having some activity is beneficial to you and if you are not paying any interest, doesn’t hurt your finances either.

2. ejhamilt on February 9th, 2010 at 8:54 pm

   Having closed credit cards does effect you negatively because you have less available credit. A creditor sees that in case of an emergency, you have no credit to use. You can’t erase them. They will be removed 7 years from last activity date. However it is better to have them than not. Just remember in the future to not close an account.

3. jackson on February 10th, 2010 at 3:30 am

   You can’t erase them. But if they are paid off that is all fine and well.
   You actually want to have some open cards. This shows that you are CURRENTLY making some sort of payments.

4. Reality Check on February 10th, 2010 at 6:06 am

   Those closed accounts show past payment history and trends, that make up a portion of your score. You do not want to delete this information at all.

Leave a Reply