{"id":1873,"date":"2022-04-27T17:15:33","date_gmt":"2022-04-27T17:15:33","guid":{"rendered":"http:\/\/www..dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/"},"modified":"2023-12-26T18:39:55","modified_gmt":"2023-12-26T18:39:55","slug":"why-closed-accounts-remain-on-your-credit-report","status":"publish","type":"post","link":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/","title":{"rendered":"Why Closed Accounts Remain On Your Credit Report"},"content":{"rendered":"<p><strong>Why Closed Accounts Remain on Your Credit Report<\/strong><\/p>\n<p>Your credit report is a type of scorecard that summarizes how responsibly you handle borrowed money. The information on it is used to calculate your credit score, and the score is used by potential lenders to decide whether to loan you money. Your credit history and score may also be used by potential landlords when they\u2019re evaluating an application for an apartment.<\/p>\n<p>Both positive and <a href=\"https:\/\/dovly.com\/post\/top-10-errors-on-credit-report\">negative information<\/a> remains on your credit bureau report even after an account is closed. This can help you as long as you <a href=\"https:\/\/dovly.com\/post\/how-many-points-will-my-credit-score-drop-if-i-make-a-late-payment\">pay your bills on time<\/a>. You may wonder why closed accounts remain on your credit report. The reason paying off an account doesn\u2019t stop it from continuing to be reported by the credit bureau is so that your payment history can be evaluated by potential lenders to give them an idea of whether you\u2019re a creditworthy borrower.<\/p>\n<p><strong>How Long Closed Accounts Remain on a Credit Report<\/strong><\/p>\n<p>The amount of time a closed account stays on your credit report depends on whether information about the account is positive or negative. If you had financial problems and didn\u2019t pay the loan on time or ended up in collections, it impacts your credit and continues to affect your credit for seven years from the original delinquency date. If you filed Chapter 7 bankruptcy, the credit bureau may continue to report this account for up to 10 years.<\/p>\n<p>If you paid the loan as agreed and none of your payments were 30 days late, the credit bureau is reporting it as a positive item even though the account is closed. Positive items can remain on your credit report for 10 years, which is a good thing because they\u2019re helping to boost your credit score.<\/p>\n<p><strong>Revolving Accounts<\/strong><\/p>\n<p>If you<a href=\"https:\/\/dovly.com\/post\/http-blog-dovly-com-2020-11-20-should-you-try-to-remove-closed-accounts-from-your-credit-report\"> decide to close a credit card account<\/a> or another revolving account, it can reduce the amount of your total available credit and raise your <a href=\"https:\/\/dovly.com\/post\/how-many-points-will-your-credit-score-drop-if-you-increase-your-credit-utilization\">credit utilization<\/a>, which may cause your credit score to go down a bit. Your credit utilization should stay below 30 percent whenever possible. For this reason, don\u2019t be in a hurry to close a credit card account you\u2019re not using unless it\u2019s costing you money because of an annual fee or because you can\u2019t resist the temptation to use the credit line. Closing an account that you\u2019re not using can also lower the average age of your accounts, another factor used in calculating your credit score.<\/p>\n<p><strong>Know What the Credit Bureau is Reporting<\/strong><\/p>\n<p>At least once a year,<a href=\"https:\/\/dovly.com\/post\/what-items-should-i-regularly-review-on-my-credit-report\"> review the information<\/a> on your credit report to make sure it\u2019s accurate. If you have closed an account, it shouldn\u2019t be reported by the credit bureau as open.<\/p>\n<p>Dovly is an <a href=\"https:\/\/dovly.com\/\">AI credit engine<\/a> that can help you dispute any errors you find on your credit report. Try it risk-free with our free membership tier. Get in touch with Dovly today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why Closed Accounts Remain on Your Credit Report Your credit report is a type of scorecard that summarizes how responsibly you handle borrowed money. The information on it is used to calculate your credit score, and the score is used by potential lenders to decide whether to loan you money. Your credit history and score [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":1874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[31,17,20,18,24],"acf":{"education":"","previous_experience":"","caption_field":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Closed Accounts Remain On Your Credit Report<\/title>\n<meta name=\"description\" content=\"Why Closed Accounts Remain On Your Credit Report\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Closed Accounts Remain On Your Credit Report\" \/>\n<meta property=\"og:description\" content=\"Why Closed Accounts Remain On Your Credit Report\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Dovly\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Dovly\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-27T17:15:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-26T18:39:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1366\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tedis Baboumian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dovly_inc\" \/>\n<meta name=\"twitter:site\" content=\"@dovly_inc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tedis Baboumian\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\"},\"author\":{\"name\":\"Tedis Baboumian\",\"@id\":\"https:\/\/www.dovly.com\/#\/schema\/person\/0328b4418de990355b712b044723c998\"},\"headline\":\"Why Closed Accounts Remain On Your Credit Report\",\"datePublished\":\"2022-04-27T17:15:33+00:00\",\"dateModified\":\"2023-12-26T18:39:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\"},\"wordCount\":497,\"publisher\":{\"@id\":\"https:\/\/www.dovly.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png\",\"keywords\":[\"Credit Bureaus\",\"Credit Education\",\"Credit Repair\",\"Credit Reports\",\"Credit Scores\"],\"articleSection\":[\"Credit Reports\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\",\"url\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\",\"name\":\"Why Closed Accounts Remain On Your Credit Report\",\"isPartOf\":{\"@id\":\"https:\/\/www.dovly.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png\",\"datePublished\":\"2022-04-27T17:15:33+00:00\",\"dateModified\":\"2023-12-26T18:39:55+00:00\",\"description\":\"Why Closed Accounts Remain On Your Credit Report\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage\",\"url\":\"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png\",\"contentUrl\":\"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png\",\"width\":1366,\"height\":768},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.dovly.com\/#website\",\"url\":\"https:\/\/www.dovly.com\/\",\"name\":\"Dovly\",\"description\":\"Free Online Credit Repair Services, Credit Repair App and Software\",\"publisher\":{\"@id\":\"https:\/\/www.dovly.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.dovly.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.dovly.com\/#organization\",\"name\":\"Dovly\",\"url\":\"https:\/\/www.dovly.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.dovly.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/dovly.com\/wp-content\/uploads\/2023\/03\/Dovly-logo-for-Social-Media-Link-Shares-1.png\",\"contentUrl\":\"https:\/\/dovly.com\/wp-content\/uploads\/2023\/03\/Dovly-logo-for-Social-Media-Link-Shares-1.png\",\"width\":1200,\"height\":630,\"caption\":\"Dovly\"},\"image\":{\"@id\":\"https:\/\/www.dovly.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Dovly\/\",\"https:\/\/x.com\/dovly_inc\",\"https:\/\/www.linkedin.com\/company\/dovly\/\",\"https:\/\/www.instagram.com\/dovly\",\"https:\/\/www.tiktok.com\/@dovly.inc\",\"https:\/\/www.youtube.com\/channel\/UCNiv0d2L-mJxwhzIs7VgooA\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.dovly.com\/#\/schema\/person\/0328b4418de990355b712b044723c998\",\"name\":\"Tedis Baboumian\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.dovly.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.dovly.com\/wp-content\/uploads\/2023\/12\/Tedis-Baboumian-scaled.jpg\",\"contentUrl\":\"https:\/\/www.dovly.com\/wp-content\/uploads\/2023\/12\/Tedis-Baboumian-scaled.jpg\",\"caption\":\"Tedis Baboumian\"},\"description\":\"Tedis Baboumian is Dovly\u2019s Co-Founder and Chief Credit Officer. With over 20 years of experience in the consumer credit industry, Tedis is an authority on the credit industry and has cultivated deep relationships with the major credit bureaus and has developed extensive practical expertise in matters relating to credit reporting, regulatory compliance, information security, and fraud mitigation. Following a distinguished career in the U.S. Marine Corps as a specialist in intelligence gathering, legal services, and weapons training, Tedis returned to civilian life, joining Rapid Credit Reports (RCR), an independent credit reporting agency. Tedis managed compliance and operations for RCR, and eventually assumed leadership as the company\u2019s CEO. In 2018 he founded Dovly, alongside Nirit Rubenstein, Dovly\u2019s CEO. Tedis holds a bachelor\u2019s degree in management information systems from California State University, Long Beach.\",\"sameAs\":[\"https:\/\/dovly.com\",\"https:\/\/www.linkedin.com\/in\/tedis\/\"],\"url\":\"https:\/\/www.dovly.com\/post\/author\/tbaboumiandovly-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why Closed Accounts Remain On Your Credit Report","description":"Why Closed Accounts Remain On Your Credit Report","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/","og_locale":"en_US","og_type":"article","og_title":"Why Closed Accounts Remain On Your Credit Report","og_description":"Why Closed Accounts Remain On Your Credit Report","og_url":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/","og_site_name":"Dovly","article_publisher":"https:\/\/www.facebook.com\/Dovly\/","article_published_time":"2022-04-27T17:15:33+00:00","article_modified_time":"2023-12-26T18:39:55+00:00","og_image":[{"width":1366,"height":768,"url":"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png","type":"image\/png"}],"author":"Tedis Baboumian","twitter_card":"summary_large_image","twitter_creator":"@dovly_inc","twitter_site":"@dovly_inc","twitter_misc":{"Written by":"Tedis Baboumian","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#article","isPartOf":{"@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/"},"author":{"name":"Tedis Baboumian","@id":"https:\/\/www.dovly.com\/#\/schema\/person\/0328b4418de990355b712b044723c998"},"headline":"Why Closed Accounts Remain On Your Credit Report","datePublished":"2022-04-27T17:15:33+00:00","dateModified":"2023-12-26T18:39:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/"},"wordCount":497,"publisher":{"@id":"https:\/\/www.dovly.com\/#organization"},"image":{"@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png","keywords":["Credit Bureaus","Credit Education","Credit Repair","Credit Reports","Credit Scores"],"articleSection":["Credit Reports"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/","url":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/","name":"Why Closed Accounts Remain On Your Credit Report","isPartOf":{"@id":"https:\/\/www.dovly.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage"},"image":{"@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png","datePublished":"2022-04-27T17:15:33+00:00","dateModified":"2023-12-26T18:39:55+00:00","description":"Why Closed Accounts Remain On Your Credit Report","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dovly.com\/post\/why-closed-accounts-remain-on-your-credit-report\/#primaryimage","url":"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png","contentUrl":"https:\/\/www.dovly.com\/wp-content\/uploads\/2022\/10\/why-closed-accounts-remain-on-your-credit-report.png","width":1366,"height":768},{"@type":"WebSite","@id":"https:\/\/www.dovly.com\/#website","url":"https:\/\/www.dovly.com\/","name":"Dovly","description":"Free Online Credit Repair Services, Credit Repair App and Software","publisher":{"@id":"https:\/\/www.dovly.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.dovly.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.dovly.com\/#organization","name":"Dovly","url":"https:\/\/www.dovly.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dovly.com\/#\/schema\/logo\/image\/","url":"https:\/\/dovly.com\/wp-content\/uploads\/2023\/03\/Dovly-logo-for-Social-Media-Link-Shares-1.png","contentUrl":"https:\/\/dovly.com\/wp-content\/uploads\/2023\/03\/Dovly-logo-for-Social-Media-Link-Shares-1.png","width":1200,"height":630,"caption":"Dovly"},"image":{"@id":"https:\/\/www.dovly.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Dovly\/","https:\/\/x.com\/dovly_inc","https:\/\/www.linkedin.com\/company\/dovly\/","https:\/\/www.instagram.com\/dovly","https:\/\/www.tiktok.com\/@dovly.inc","https:\/\/www.youtube.com\/channel\/UCNiv0d2L-mJxwhzIs7VgooA"]},{"@type":"Person","@id":"https:\/\/www.dovly.com\/#\/schema\/person\/0328b4418de990355b712b044723c998","name":"Tedis Baboumian","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dovly.com\/#\/schema\/person\/image\/","url":"https:\/\/www.dovly.com\/wp-content\/uploads\/2023\/12\/Tedis-Baboumian-scaled.jpg","contentUrl":"https:\/\/www.dovly.com\/wp-content\/uploads\/2023\/12\/Tedis-Baboumian-scaled.jpg","caption":"Tedis Baboumian"},"description":"Tedis Baboumian is Dovly\u2019s Co-Founder and Chief Credit Officer. With over 20 years of experience in the consumer credit industry, Tedis is an authority on the credit industry and has cultivated deep relationships with the major credit bureaus and has developed extensive practical expertise in matters relating to credit reporting, regulatory compliance, information security, and fraud mitigation. Following a distinguished career in the U.S. Marine Corps as a specialist in intelligence gathering, legal services, and weapons training, Tedis returned to civilian life, joining Rapid Credit Reports (RCR), an independent credit reporting agency. Tedis managed compliance and operations for RCR, and eventually assumed leadership as the company\u2019s CEO. In 2018 he founded Dovly, alongside Nirit Rubenstein, Dovly\u2019s CEO. Tedis holds a bachelor\u2019s degree in management information systems from California State University, Long Beach.","sameAs":["https:\/\/dovly.com","https:\/\/www.linkedin.com\/in\/tedis\/"],"url":"https:\/\/www.dovly.com\/post\/author\/tbaboumiandovly-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/posts\/1873"}],"collection":[{"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/comments?post=1873"}],"version-history":[{"count":2,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/posts\/1873\/revisions"}],"predecessor-version":[{"id":5322,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/posts\/1873\/revisions\/5322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/media\/1874"}],"wp:attachment":[{"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/media?parent=1873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/categories?post=1873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dovly.com\/wp-json\/wp\/v2\/tags?post=1873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}