No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
If 19 installment loans are deleted, there are several effects.
1. AAoA may get yanked around a fair bit.
2. You may lose the installment loan benefit.
3. You will gain from shedding the negative payment history.
I assume that #3 dominates #1 and #2.
A lot of the issue centers around what is dominant on your report.
Payment history and utilization are about 2/3 of your score.
@hoff33 wrote:
I still have 3 good standing installment loans so I hope that helps. I was a little worried about AAoA but I have a few other old student loans with 0 balance with good payment history I am leaving alone. I really hope I can get some boost from this.
Generally speaking, deletion of any derogatory is always a win. Always: like user5387 intimates payment history is King.
You can get to a 700 (and really, 740 for most people) credit score in a FICO '08 model easily in 2 years starting from a no-file situation, so if you get clean you'll get plenty of increases over time if not outright. From the sounds of it your AAoA will be fine though and you'll have plenty of loans for old installment history, smells like victory!