Jacob finally paid off a credit card that he was late paying every month. His payment history on this card has caused his credit rating to go down. However, he no longer has to worry about this since the account will no longer appear on his credit report because it is paid off. How would you respond to Jacob's understanding of documentation of credit history?
A. Although the history of the account will be removed from your credit report after you pay it off, you are still obligated to share information about the payment history of the account if requested by a creditor.

Question

Jacob finally paid off a credit card that he was late paying every month. His payment history on this card has caused his credit rating to go down. However, he no longer has to worry about this since the account will no longer appear on his credit report because it is paid off. How would you respond to Jacob's understanding of documentation of credit history?
	A.	Although the history of the account will be removed from your credit report after you pay it off, you are still obligated to share information about the payment history of the account if requested by a creditor.

anonymous · Answer

B.	Credit that you have applied for and credit you've been granted will remain on your credit report for 7 years even if you pay off the entire balance.
	C.	Your credit will definitely improve since this particular line of credit is being removed from your credit report. All paid-off accounts are removed immediately.
	D.	Your credit will improve as long as you have also closed that paid-off account. All closed accounts are removed immediately.


@jim_thompson5910

anonymous · Answer

Pretty sure its B

anonymous · Answer

But this ain't really a math problem honey

anonymous · Answer

@katlin95 thts not actually a math problem, but logically would go with B