Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011
Re: High Utilization on Some Cards and Mortgage

jandj80 wrote:

The installment loan might hurt you when you pay it off, cause if its been being paid for a long time, its helping your AAoA. I lost a few when we paid off a car loan that we had for 4+ years. If you can pull credit for approval prior to that showing closed I would do so. 

This is incorrect. A positive account will stay on your CRAs for at least 10 years after it is closed.