Credit Report mystery...?
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I have become a "guru" of credit reports. I have done a lot of research and i have learned a lot about Credit Reports. Here is something that i still don't know/understand why''s happening.. Can somebody answer to this question?
1. I closed a few accounts (credit cards) 3 or 4 years ago. They are in EXCELENT standing. They (of course) still show in my credit report (Closed accounts in good standing stay in your report up to 10 years). Now, the "mystery" is that for some reason they are still being reported by the creditors. Why? I still have another account which i closed a year ago. In this case this account had a few late payments that were reported to my credit. They are still reporting it as "ok", or "good", which will eventually lead to a perfect 24 month hystory, instead of leaving it like the way it is so creditors will see my late payments when i apply for credit in the future. Does this make sense? It's benefiting me instead of affect me! Can somebody tell me why?
Credit Report mystery...?This is because the accounts still fall within a 7 year history. The key on the report is the "date of last activity" which is the actual date that counts. Regardsless of account status, there is a monthly submission from each creditor as to the standing of the account in reference.
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