"Settled" debt on credit file

fw7

I have a store card which is marked as "settled" on my credit file. I closed it a few years ago. I wasn't using it. I didn't owe anything on it... the balance was zero. I'm not sure I understand the meaning of "settled" exactly. I thought it had a negative meaning, meaning you'd reached an agreement as to how much you were going to pay, which isn't what happened. Is it okay?

fatbelly

I think that's ok. It should also show zero balance and no default. The entry will be removed 6 years after the settled date

PRAISETHESUN

Settled just means the account has been closed and any outstanding bills have been paid in line with your credit agreement. This is normal. If it was a default it would be clearly labelled as such.

sourcrates

Settled/closed/satisfied, all mean basically the same thing, all perfectly normal.

fw7

Thank you