What is an open account?

Your credit report will show all your accounts, with open and closed accounts shown separately. In your credit report, an account is most likely considered open if there is no closed date on the account.

With your new TransUnion credit score, open accounts will be viewed a bit differently. An account will only be classed as open if:

• the lender has sent updated data for the account within the last 12 months

• the account hasn’t defaulted

• you’re keeping up with your contractual or agreed payments

If an account has a closed date, has not been updated in the last 12 months or has defaulted, this will be considered closed.