Credit report questions if I may?

ineedhelp2008

Hi Guys

I have just signed up to Experian to have a look at my credit report and it doesn't look too bad, there are 18 accounts and all are satisfactory which is good.

There are a couple of old catalogue accounts on there and an old credit card that I haven't used for a couple of years or more. I see the general advice is to cancel old cards etc that are no longer used to improve credit rating. How soon do they go off your experian report? Do they go straight away or will they still sit there for 6 years?


Thanks all!

bathgatebuyer

I believe they sit there for 6 years, but that actually settling them and closing is best for your actual 'score' as it shows you can meet your credit commitments and aren't likely to use your cards to your limit. If you leave the account open, the thinking is that at any point you could max them up and any credit decision made by a bank becomes a very different issue.

ineedhelp2008

bathgatebuyer wrote: »

I believe they sit there for 6 years, but that actually settling them and closing is best for your actual 'score' as it shows you can meet your credit commitments and aren't likely to use your cards to your limit. If you leave the account open, the thinking is that at any point you could max them up and any credit decision made by a bank becomes a very different issue.

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So they will still be on there, but they will say 'closed' or something to that effect?

Thanks

savingholmes

They say settled I think initially...