Can too many "positive" accounts that are kind of old negatively affect your score??

Question

*example: Date of last activity 12/2001 - current status Pays as agreed; Closed at consumer's request.
OR
Date of last activity:11/2002 - current status Pays as agreed; Account paid - zero balance - account refinanced

I just got my credit report, it's not the worst score in the world, but it could use some tweaking. I read something in a book that stated:"...One reason our credit score was so low was that there was alot of outdated information... Accounts had been closed..."
I understand that anything over 7 years should drop off, but the book wasn't specific about if they were talking about just the negatives that need to go or the positives too? Would it be to my benefit to leave the positives, or request to have them deleted? ??? I know it sounds like a no-brainer; and that I should leave the paid in full stuff, but this whole credit thing seems backwards to me sometimes, you know, like it is better to have one revolving line of credit, etc...

Thanks in advance!

* I closed all my credit cards a few years ago. Now the only thing I have with a "logo" is my check card.

Answer 1

Read this link to see exactly what factors into your credit score http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx

You absolutely do not want to try to remove the old accounts if they have no negative information attached - those are helping you even though they are closed. What's probably holding you back is you have no active credit accounts because you closed them all. Therefore, since the time you closed your cards, there is no evidence of how you handle credit because you have not had any open accounts.

I assume you are currently considering applying for credit somewhere since you're concerned about your score. I can't recommend applying for new credit cards to boost your score because that might knock your score down a bit for a couple months. Are you sure your score needs to be improved? Depending on what you are looking to apply for, you may be just fine where you are now.

What's your current score, and what type of credit are you looking to apply for?

Answer 2

Closed accounts in good standing do not adversely affect your credit score. If you close your oldest credit card account, you could be closing that history. Good payment history improves a credit score.

Are you carrying balances on your credit cards? The degt to available credit limit ratio has a big affect on your score. Keep you balances below the 30% mark. Payin in full every month is even better.

Answer 3

Credit scores are based on the following factors;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%

For factors 1,2 & 5 you should never delete positive accounts, these only help your score.

Answer 4

old positives are not bad, your credit just need updating. update your credit, freshen it up.
THATS EASY!!!