my credit report

liannee22

ive just checked my credit report and checked my score it was 530 and says this

This section lists information provided by credit providers and other lenders, including details of existing and previous credit agreements and historical information about the repayment of these agreements. Lenders update and supply this information to Equifax on a monthly basis. You may find that not all the credit accounts you have with lenders are necessarily shown on your credit report. However, most lenders provide Equifax with information on all their customers accounts, irrespective of the status of the accounts i.e. up to date and overdue.
Good

You have 10 active accounts and 17 settled accounts on file at your current address. Credit grantors prefer that you have at least one or two accounts as part of your credit profile. Active accounts are preferred to settled accounts.


Excellent

Your oldest account is 8 or more years old. Credit grantors prefer to see accounts opened at least 3 years.


Excellent

You have no derogatory items in your payment history.


Excellent

All payments on your accounts are up to date.


Excellent

Credit reference agencies are receiving periodic updates from your credit grantor(s) that reflect you have made payments on time in the past.


Excellent

You have no defaults.



what does it mean by

You have 10 active accounts and 17 settled accounts on file at your current address. Credit grantors prefer that you have at least one or two accounts as part of your credit profile. Active accounts are preferred to settled accounts.

and how long do you have to wait till the settled accounts are removed from your account??