diff --git a/packages/coding-agent/src/cli/config-cli.ts b/packages/coding-agent/src/cli/config-cli.ts
index a88917acc..e12d3002d 100644
--- a/packages/coding-agent/src/cli/config-cli.ts
+++ b/packages/coding-agent/src/cli/config-cli.ts
@@ -287,12 +287,14 @@ async function handleList(flags: { json?: boolean }): Promise<void> {
 		//
 		// Redaction is driven by the value, not by classification alone. Marking an
 		// unset credential as redacted would report every fresh install as having
-		// one configured, which leaks the opposite of what redaction is for.
+		// one configured, which leaks the opposite of what redaction is for. The
+		// settings panel persists "" when a credential is cleared and renders that
+		// as unset; the same semantics apply here (credentials are all strings).
 		const result: Record<string, { value?: unknown; redacted?: true; type: string; description: string }> = {};
 		for (const def of defs) {
 			const value = settings.get(def.path);
 			result[def.path] =
-				isCredential(def.path) && value !== undefined
+				isCredential(def.path) && value
 					? { redacted: true, type: def.type, description: def.description }
 					: { value, type: def.type, description: def.description };
 		}
@@ -321,10 +323,11 @@ async function handleList(flags: { json?: boolean }): Promise<void> {
 		for (const def of groups[group]) {
 			// `list` dumps every value without anyone asking for a specific
 			// credential, so redact here. `get <path>` stays an explicit
-			// single-value request and is left alone. An unset credential keeps its
-			// ordinary empty rendering: masking it would imply one is configured.
+			// single-value request and is left alone. An unset or cleared ("")
+			// credential keeps its ordinary rendering: masking it would imply one
+			// is configured.
 			const value = settings.get(def.path);
-			const valueStr = isCredential(def.path) && value !== undefined ? REDACTED : formatValue(value);
+			const valueStr = isCredential(def.path) && value ? REDACTED : formatValue(value);
 			const typeStr = getTypeDisplay(def);
 			console.log(`  ${chalk.white(def.path)} = ${valueStr} ${chalk.dim(typeStr)}`);
 		}
diff --git a/packages/coding-agent/test/config-cli-credentials.test.ts b/packages/coding-agent/test/config-cli-credentials.test.ts
index 5b877ab89..43269078b 100644
--- a/packages/coding-agent/test/config-cli-credentials.test.ts
+++ b/packages/coding-agent/test/config-cli-credentials.test.ts
@@ -152,6 +152,17 @@ describe("config list output", () => {
 		expect(parsed["searxng.token"]).not.toHaveProperty("redacted");
 	});
 
+	it("does not report a cleared credential as configured", async () => {
+		// The settings panel persists "" when a credential is cleared and renders
+		// that as unset; `config list` must agree, or a cleared token looks set.
+		await runConfigCommand({ action: "set", key: "searxng.token", value: SECRET, flags: { json: true } });
+		await runConfigCommand({ action: "set", key: "searxng.token", value: "", flags: { json: true } });
+		const output = await humanList();
+		expect(output).not.toContain("searxng.token = ********");
+		const { parsed } = await jsonList();
+		expect(parsed["searxng.token"]).not.toHaveProperty("redacted");
+	});
+
 	it("leaves the Hindsight server URL readable", async () => {
 		// It sits beside the API token under the same display condition, and is an
 		// ordinary endpoint: masking it hides a value users need to inspect.