Does good credit history go away if the card is canceled?

If you’ve worked hard to build a good credit history and suddenly find your account closed for one reason or another, you may be afraid that all your work has been for nothing. Here’s the good news: if you’ve used your account, the lender most likely reported all of your charging and payment activity to the credit bureaus. This credit history is yours for good and can’t be erased. According to the Fair Credit Reporting Act (FCRA), all positive credit information can be kept and reported forever.