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Should I close account with failed payment?

(2 Posts)
wheezles Wed 08-Feb-17 11:23:22

I'm so confused and google is making it worse.

I've got a credit card that shows too missed payments 18 months ago on my credit file. I've got a six year plan to improve my credit rating (which is awful), pay off all debt, and save enough to buy a house.

Should I pay this card off and close it- so that in six years time, it won't show on my file anymore?

Or if I just keep it in the green and keep it open, will the failed payment be there forever to see? It says in the experian FAQs missed payments only disappear six years AFTER the account is closed.

Any help appreciated

Thanks

delilahbucket Wed 08-Feb-17 14:35:32

It's just six years, provided there have been no further defaults and the payments were caught up on. The account does not need to be closed.

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