You should expect about 7 years from the date it was closed or became inactive.

Yes, my understanding is that it is seven years. But I don't really get that though if their is nothing negative or any late payments why that is?

A credit score is not just bad items, it counts the good things too. It is a complete history (or at least what is reported) of the past 7 years. That is the reason we talk about keeping accounts open, even though you are not using them. They give you positive points showing that you handle credit responsibly.

I have a question regarding this topic. My first credit card was an AMEX Green Rewards charge card that I opened back in '03. I eventually really upgraded to a Gold Rewards Plus charge card about 2 years ago. I didn't realize that my Green Rewards account was still open, I had assumed it had been upgraded instead of a new account being created.

Anyways, back on topic, I called AMEX and told them I wanted to cancel one of the two since they both had an annual fee and served the same purpose. I preferred to keep the Gold card, but the Green was my oldest and I didn't want to hurt my credit and I expressed this concern to the customer rep. The representative told me that as long as I had one account with them open that it would continue to show up on my credit report that I had been in good standing with them since 2003. And it does say on my Gold card, even though I got it in '05 that I've been a member since '03.

Will closing out that Green card hurt my credit at all?

Closing a line of credit will change the ratio of "outstanding balance" to "available credit". The amount of credit granted is an indication of the trust others place in you.

If your new card is at or near a zero balance, the ratio difference will be very small.

Close with no problem. 7 yrs to be gone with it. No adverse probs.

Dispute the items with the credit bureaus.

7 years statue of limitations of last time you used yoru card
it will fall of after 7 years off your credit report
you must get your credit reports every and stay on top of it