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Thursday, April 26, 2007

Impact of closing old credit accounts

The Kiplinger.com article discusses the impact of closing old credit accounts on a person’s credit history, especially those that are not in good standing.

As per the article, simply closing an account doesn’t remove it from a person’s credit history. Closed accounts stay on the credit report for 10 years, while any negative info stays for 7 years.

For complete article, check out:

Kiplinger.com: Closing Credit Card Accounts

posted by Ruby @ 12:43 AM

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