Re: High Utilizatio
n on Some Cards and Mortgage
11-18-2012 07:54 PM
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.