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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: question about credit cards Date:  6/27/2007  1:38 PM
Author:  aj485 Number:  254940 of 312188

I know that a creditor's inquiry will stay on your credit report for one year

Close, but not quite - Inquiries are reported for 2 years. After 1 year, depending on the scoring model, the impact on your score may be reduced.

how long will a credit card that I've canceled remain on my report? Will it disappear after I cancel, or will the cancellation be recorded for a time?

If there is derogatory information on the account: The information will drop off 7 years and 180 days after the month of the derogatory mark.

If there no derogatory information on the account: It may remain indefinitely, but generally the information will drop off about 10 years after the account has closed.

After the account is closed, but before it drops off, it should be reported as "Closed by consumer request".

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