Paid and Closed Credit Card Accounts Stay on A Credit Report for a Period of 10 Years

Accounts that are paid, closed and never have been late are good to have on your credit report. They not only influence your credit score positively but also speak in your favor in the eyes of future lenders. The credit bureaus recognize this fact and reward you by having the ‘paid, closed and never late’ accounts stay in your credit report for a period of 10 years.

We say reward because typically a negative account or an account with any negative history stays only for a period of 7 years. In order to make sure that you can get maximum benefit out of the positive data on your credit report, a paid and closed account will stay on for a period of 10 years and continue to influence your credit rating for a longer period of time.