my credit report?

Question

on my credit report there many cards that I don't use anymore including my old mortgage co. that say LOW next to them. I don't use them and there paid off! So why are they there and why the LOW
next to it?

Answer 1

Old accounts whether good or bad still stay on your credit report for 7 years. If they are cards that are still active with a low or no balance, I would suggest that you DO NOT cancel them - This helps build credit history, It shows that you are resposible with your credit.

Answer 2

If you have accounts that are no longer active, you should have them removed. You can log onto either of the 3 major credit bureaus and 'edit' your accounts. When you 'delete' from one credit bureau, that bureau will contact the other two to have it deleted. Each account should have a 'delete' button. Sometimes they'll deactivate the account but will still ask for something in writing. But you should keep monitoring your accounts. The cleaner they are, the better it is for you.

Answer 3

If you don't use them, it would be a good idea to cancel them. Otherwise, you have all these account numbers out there just waiting to be stolen. You should go to your bank and have them break your report down for you. It's important to stay on top of:)