Does removing an old closed account from your credit report help your FICO score or hurt your FICO score?

I have a credit card acct that has been on my report since 1996. I disputed this item today because it has been closed since 1998. I figured I might get lucky and get it removed since I thought it was a derogatory listing on my credit report. I realiz now that it's the oldest accout that I have on my credit report even though it was a transferred/closed acct. To top it all off it was actually listed in the "acct's in good standing" area and not in the "derogatory acct's" section even though it was a transferred and closed acct.. I wonder if perhaps it was in the good standing section because of how old it was? I just want my score to improve.. I hope I didn't make it worse..Do you think it will make my Experian score worse or better? My other acct's are more recent.. oldest is 2002.

Public Comments

1. Removing accounts hurts your score because it eliminates credit history. If you are done with an account, just cut up the cards and pretend it does not exist.
2. it doesnt effect your credit score since its an old account but i would just leave as it is
3. Michael E is correct. That is not a good move. Christine, Sr loan officer http://www.pottstownmortgage.com/
4. If it was a legitimate account and not derogatory leave it alone. Removing it will not affect your credit score and if it is legit it will not be removed until 7 years after the last date of any activity on it, so it will do no good for you to ask that it be removed anyhow.
5. Normally, Michael E would be correct. BUt this account has been inactive for 10 YEARS. Credit history - even bankruptcies are removed within this time. I'm assuming you have other more recent credit history to rely upon. This account doesn't really do anything except leave you open to someone getting hold of the card without your realizing it (since you haven't used it in 10 years).