🚀 Our new App is live!  Signup

Advertiser Disclosure

Advertiser Disclosure

Although we put in a lot of effort to give our readers unbiased information, and we include many credit card offers on our website for which we do not get paid any compensation, we are legally required to notify you that we may be receiving compensation from some of the credit card companies mentioned on our website.

Some of the credit card offers which appear on helpmebuildcredit.com are from credit card companies from which this site possibly receives compensation. This compensation may impact how and where credit card offers appear on this site. This site possibly does not include all available credit card offers.

 

Close

How Long Do Marks Stay On My Credit Report?

- Jan 28, 2024 credit5 comments

Even if you mess up your credit due to hardship, your credit is not messed up for life. You still have a second chance! The FCRA has set rules for how long negative marks are allowed to stay on your credit report.

Here is a list according to each type of mark for how long they can stay on your credit report.

Credit inquiries

Credit inquiries stay on the credit report for 2 years, but they only affect credit for 12 months.

Late payments

Late payments may stay on your credit report for 7 years from the date of the first missed payment.

Charge offs

Charge offs stay on your report for 7 years from the date the account was charged off. (That’s 7.5 years from the date the account started being in late status). 

In NY, a paid charged off account can remain on your credit report for only up to 5 years.

Collections

Collections will stay on your report for 7.5 years from when the original account started being in late status.

In NY. a paid collection can remain on your credit report for only up to 5 years.

Medical collections

Medical collections of $500 or more  will stay on your report for 7.5 years from when the original bill was due or it is paid, whichever comes first. 

In NY, medical collections cannot be reported on a consumer’s credit report.

Bankruptcies

There are two type of bankruptcies:

  • A Chapter 7 bankruptcy will stay on your credit report for up to 10 years.
  • A Chapter 13 bankruptcy will stay on your credit report for up to 7 years.

Tax liens

An unpaid tax lien has no limit for how long it can stay on your credit report (never fight the government!).

For California residents, the limit for an unpaid tax lien is 10 years.

A paid tax lien will usually only stay on your credit report for up to 7 years.

Student debt

Most delinquent student debt will stay on your report for up to 7 years from the date of the missed payment. The only exception is a government funded Perkins loan which stays on your credit report until it is paid in full.

Foreclosure

A foreclosure can stay on your credit report for up to 7 years from the date the foreclosure was filed.

Good standing open credit card

A good standing open credit card has no limit for how long it can stay on your credit report.

Good standing closed credit card

A good standing closed credit card will stay on the report for up to 10 years from the date it was reported closed.

Frequently asked questions
Are multiple addresses on my credit report a bad thing?
If you move every second day then it shows instability. But as long as they are at normal intervals then there is nothing to worry about

Was this article helpful?

avatar_logo
Sam Sam has nearly a decade's worth of experience educating his many readers on everything credit. Sam spends his days checking out credit cards for a full report, from the minute benefit details to the shebang of welcome bonuses. Plus studying the ins and outs of building proper credit. It’s his favorite pastime and he loves sharing it with others.

Leave A Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.

5 Comments

  1. If I was an additional on a credit card and they closed down the primary card holder will it effect my credit and yes I do so it on my credit report.
    Why?
    And how long will it effect me if it effects at all
    Looking fwd for a response @Sam

    Reply
    • If the account did not have any negatives then the fact that the account was closed will not hurt your credit score. But the account will no longer help your credit either.

      Reply
  2. How long does a closed auto loan (car lease) stay?
    And how long does a new open auto loan stay?
    Meaning how long does it affect your credit?

    Reply
    • Usually 10 years for accounts with no late payments

      Reply
  3. And how could I make that the closed account should not be seen on my credit report?

    Reply

Recent Posts

Follow us

Click here to subscribe to
our WhatsApp channel

Today's
best offers

Capital One Venture X Business

Earn 150,000 miles after spending $30,000 within the first 3 months.

more info

Ink Business Preferred Credit Card

Earn 100,000 points after spending $8,000 within the first 3 months.

more info

The Platinum Card from American Express

Earn 80,000 points after spending $8,000 within the first 6 months (terms apply).

more info

American Express Business Gold Card

Earn 130,000 points after spending $10,000 within the first 3 months (terms apply).

more info

You May Also Like

How To Build Credit History Properly Once And For All

How To Build Credit History Properly Once And For All

There are many people who often complain to me that although they started building credit a long time ago they still don’t have a perfect credit score.  Usually, the reason ends up being that they never set themselves up to build credit properly. In this post, I will...

read more
Do Utility Or Phone Bills Help Build Credit?

Do Utility Or Phone Bills Help Build Credit?

Getting a bill in the mail is not one of the most exciting times in life. Responsible, timely people, though, make sure that their utility and phone bills get paid on time. That’s why I get asked this question very often: How come I don’t have credit? I pay my rent...

read more
5 Types Of Installment Loans And Their Best Uses

5 Types Of Installment Loans And Their Best Uses

Installment loans are a widely used financial tool. They allow you to borrow a specific amount of money and repay it in fixed, regular installments over a predetermined period. Each installment consists of both the principal amount borrowed and an interest component....

read more
My 2024 Predictions!

My 2024 Predictions!

In the last few years, before the start of the year, I released a post with my predictions for the upcoming year. These predictions are just my educated guesses on how I see things going. Of course, there are many more factors that affect every single one of these...

read more
What Credit Do I Need To Get Approved For The Ink Cards?

What Credit Do I Need To Get Approved For The Ink Cards?

Update: Offers expired. You definitely don’t want to miss these offers! You can earn a total of 180,000 points (and even more when including a spouse)! You earn 90k points after spending $6,000 within three months on each card. And even better. Chase is approving for...

read more
What Does “DLA” Mean, And Why Is It Important?

What Does “DLA” Mean, And Why Is It Important?

When reviewing your credit report (get a free copy here), you will notice that by each tradeline there is a note that says DLA (date last activity). This mark basically states the last time there was any activity (a payment) on each tradeline.

read more
How Long Does It Take To Build Credit?

How Long Does It Take To Build Credit?

I get asked this question a lot: “How long does it take to build credit?” The short answer is that building credit takes a lifetime “but no you do not need to wait until 120 to get approved for your first mortgage”. So let’s discuss how long it takes to build...

read more
success_icon

Download link sent
succesfully

Got it * please check your promotional inbox
fail_icon

Error sending download link

Try Again