How long does information remain on my credit report?

Knowing how long information stays on your credit report keeps you in control; you can make better-informed decisions at the right time. If you’re thinking about making a credit application, understanding the timings of your credit report can really affect what a lender will (or won’t) see.

Let’s take a close look at credit report retention periods (how long things stay on your report for).

Every time you apply for credit, a lender might ask one or more of the credit reference agencies to view the information held about you. Your report usually includes:

Personal information such as your name, date of birth, and address history.

Credit accounts like your bank account, credit card, mortgage and mobile phone contract.

Your payment history which shows what you’ve borrowed and how you’ve kept up with your repayments.

Public records in your name including court and insolvency information, and whether you’re registered on the Electoral Roll.

Associations and aliases detailing who you’ve been financially connected to and where you’ve used another name.

Searches that show where you’ve applied for credit or when an organisation has searched your details.

But how long do each of these stay on your credit report? This depends on the retention period. In most cases, information stays on your credit report for six years, and once that has passed, the information should be removed from your report.

The Information Commissioner’s Office (ICO) sets the six-year period for retention, after which point the information is usually no longer considered relevant to your credit report. The retention periods are outlined below:

Open accounts – indefinitely.

Closed accounts - 6 years from the closure date.

Defaults - 6 years from the default date.

CCJs - 6 years from the date of issue.

Insolvencies - 6 years from the date of issue.

There’s a slight exception to the rule with CCJs and insolvencies. If the CCJ is paid within the first month of issue, it’ll be removed as it’s considered ‘set aside’. If an insolvency has not been discharged, it will remain on the credit report beyond the six-year period until it has.

Searches are different. You’ll usually see them on your credit report for a year, or two if it’s on your TransUnion file. It’s important to remember this, as having too many credit applications on your report can raise questions for lenders.

So if you’re thinking that paying off or closing an account will remove it from your credit report immediately, think again. That single piece of information could in fact affect your credit score, and your ability to obtain credit for longer than you think.

Knowing when information will be removed can help you to plan ahead, especially if that piece of information is currently affecting your score. It can help you decide when to apply for a new financial product or whether it would be best to simply wait. If it is best to wait, you have a head start on building your credit health until the removal date comes around.

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