Closed accounts can stay on your credit report for up to 10 years, even if they were in good standing. This can sometimes hurt your credit score, especially if you have a short credit history.
There are a few ways to get rid of closed accounts from your credit report.
- Dispute inaccurate information. If the closed account on your credit report has inaccurate information, such as a late payment or a high balance, you can dispute it. The credit bureau will investigate your dispute and remove the inaccurate information if it is found to be incorrect.
- Request a goodwill deletion. You can also ask the creditor to remove the closed account from your credit report as a “goodwill” gesture. This is more likely to be successful if you had a good relationship with the creditor and you closed the account in good standing.
- Wait for the account to age off. Closed accounts will automatically be removed from your credit report after 7 years. If you don't want to dispute the account or request a goodwill deletion, you can simply wait for it to age off.
It's important to note that you may not want to remove all closed accounts from your credit report. Closed accounts that were in good standing can actually help your credit score by showing that you have a history of responsible borrowing.
If you're not sure whether or not you should remove a closed account from your credit report, you can always talk to a credit repair specialist. They can help you assess your credit and determine the best course of action.
Here are some additional tips for removing closed accounts from your credit report:
- Get your free credit report from each of the three major credit bureaus (Experian, Equifax, and TransUnion) once a year. This will allow you to see all of the accounts that are listed on your credit report and check for any inaccuracies.
- Be sure to dispute any inaccurate information promptly. The sooner you dispute an inaccurate item, the sooner it will be removed from your credit report.
- Write a goodwill letter to the creditor. This is a polite request to the creditor to remove the closed account from your credit report as a “goodwill” gesture.
- Be patient. It can take several weeks or even months for a closed account to be removed from your credit report.
By following these tips, you can improve your credit score and get rid of closed accounts from your credit report.
