How Long Is a Credit Report Valid?

Barring death, your credit history generally remains valid throughout your adult life. Your Social Security Number, name and other identifying information are linked to your credit report to assist lenders, insurance companies and even employers in verifying your financial responsibility. Under certain circumstances, you may have information removed, establish a new history or freeze your current credit report.

Timeframe

Your credit report changes as creditors add information or old data expires. Most negative information remains on your credit report for up to seven years. Credit inquiries by lenders --- other than those you have open accounts with --- appear on your credit report for two years. Bankruptcies may remain for up to 10 years and unpaid tax liens can stay on your credit history indefinitely. Positive information may remain on your report as long as the account is active or up to 10 years for closed accounts.

Scoring

The Fair Isaac Corporation (FICO) applies a score to your credit report based on lending history. Your payment history makes up the bulk of your score followed by your debt-to-credit ratio. The length of credit history, new credit and having a mix of credit types --- including revolving accounts, secured loans and mortgages --- also affect credit scores. While credit inquiries from potential lenders contribute to new credit scoring, inquiries by current lenders and checking your own credit report do not.

Options

Consumers may place a security freeze on their credit report preventing unauthorized access to the report by contacting credit-reporting agencies. Fees apply unless the request is due to identity theft or dispute investigations. Prohibiting access to your report may delay loan or credit approvals, and creditors with whom you have an existing open account with may still access the report. You may lift and reestablish the freeze at anytime for all or a select number of lenders.

Concerns

If negative information on your report is due to inaccurate information, you may have it removed by contacting the applicable credit-reporting agency. Report fraudulent activity such as identity theft to the Federal Trade Commission, lenders, credit reporting agencies, local authorities and the Social Security Administration. If a thief uses your Social Security Number to open credit in your name, you may apply for a new number and establish a new credit history under some circumstances. You cannot get a new Social Security Number to avoid debt or accurate negative credit reporting.