Two ways a credit report is affected by credit cards

Some consumers may think they have a way to help them get out from under their credit card debt, but not every strategy is guaranteed to work, and in some cases, these moves can have an effect on their credit report.

Some consumers, for example, might think it’s a good idea to call their lender and ask for a lower rate on their credit card. While this can be a perfectly good way to make life a little easier, a report from Bankrate says it can also backfire. Asking for a new rate will cause a card company to check a consumer’s credit report, so it helps if the consumer has done so first and knows that it is free of any harmful discrepancies.

However, not every strategy has a negative effect. Some consumers may choose to close credit card accounts with perfect payment histories. Doing so won’t shorten their credit history immediately, though, as such accounts stay on a credit report for up to 10 years.

According to a report from Scripps News, positive information will remain on a credit report indefinitely as long as the account is open. Negative information is deleted seven years after the last delinquency.