Closed Account
A credit account that is no longer active. Closed accounts in good standing (with a positive history) remain on your credit report for up to 10 years and continue to benefit your score during that time. Closed accounts with negative history remain for 7 years.
Related guides
- Full credit & FICO® glossary
Browse all defined terms by category.
- Tradeline
Any credit account listed on your credit report, including credit cards, loans, and lines of credit. Each tradeline includes account details such as the creditor's name, account number, credit limit or loan amount, balance, and payment history.
- Credit Report
A detailed record of your credit history maintained by each of the three major credit bureaus (Experian, TransUnion, Equifax). Contains personal information, account history, payment records, public records, and credit inquiries.
Frequently Asked Questions About Closed Account
What does Closed Account mean?
A credit account that is no longer active. Closed accounts in good standing (with a positive history) remain on your credit report for up to 10 years and continue to benefit your score during that time. Closed accounts with negative history remain for 7 years.
Is Closed Account important for my FICO® score?
Understanding Closed Account helps you manage your credit profile more effectively, which in turn supports a stronger FICO® score.