Know Your Credit History
Some credit information stays on your credit report for longer.
Laura Adams, MBA
Quick Tip: Positive Credit History Stays on Your Report Longer
Not all of your credit information stays on your credit report for the same amount of time. You might be happy to know that your good information lingers longer than your bad information.
Here’s what I mean: If you close an account with a positive history–where you made payments on time–it stays on your credit report for 10 years from the date the account was closed. A closed account with negative information is generally removed 7 years after the date of the last delinquency.
If you’re not sure what’s on your credit report, get a free copy at annualcreditreport.com. You’re entitled to receive a report once a year from each of the three credit reporting bureaus–Equifax, Experian, and TransUnion.
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About the Author
Laura Adams received an MBA from the University of Florida. She’s an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura’s previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.