old accounts on credit report?

I have a number of credit card accounts that were barely used. One was a mistake. I requested a credit limit increase and got a new card. I applied for a store card without ever activating it (canceled the card when I realized it was on my report) and a store card that I used for one purchase, paid off and never used afterward. All of these accounts have last reported information from over a year ago, plus lost and stolen accounts. Will these be on my report forever?

There is only one mistake that I've found on my report. I "upgraded" my mastercard to a different rewards program, but the old card number is listed with the old balance, even though it has long since been paid off. The notation at the bottom does say "past due:0 and paid as agreed". But it still says that I owe money, which I don't. Anyway to fix this?

3 Answers

  • 1 decade ago
    Best Answer

    The only thing you need to fix is that balance on your mastercard, it is not derogatory but is affecting your debt to available credit ratio.

    Just send a dispute letter to each credit bureau listing the name of the bank and the account number as appears on your credit report, saying that the account have a zero balance. The credit reporting agencies will contact the bank and correct the balance or delete the account if the bank doesn't respond to them before 30 days from the date your letter was received.

    Source(s): http:://www.bcrconsulting.us
  • 1 decade ago

    You have nothing to fix. Some credit cards just list your most recent high balance. The fact that the account shows no past due and paid as agreed is what counts.

    Open credit card accounts will stay on your credit report until they are closed. You should keep open your oldest credit cards because about 14% of your score is based on length of history. Closing those oldest accounts would lower your score.

    Closed accounts in good standing stay on your credit report for about 10 years. Even those accounts you opened, never used, and closed.

    Derogatory items age off your credit report in 7-1/2 years from date of first deficiency. Those are the only accounts you want to get off your report as they hurt your history/score.

    Source(s): BD
  • 1 decade ago

    Go to the disputes section and submit a dispute online choosing the "paid in full" box. It takes usually 30 days to get results and unless your credit card company lies and says you didn't pay it, they will fix it. Make sure you dispute it on each report that it shows up on. Worst case, if they cause problems, you just send in a statement showing you paid off the card and they will update it. :-)

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