If I'm not mistaken I believe they stay for about 7 years, and yes they are labeled as closed accounts.
On a side note, I learned the hard way that if you ever have a late payment, it will only stay on your credit report for 24 months, as that is the length of credit history it shows for each card - UNLESS you cancel the account before 24 months lapse. Then your late payment will stay on the report for 7 years. D'OH!
