I have an installment loan from a local bank which is about a month away from being totally repaid. This loan spanned over 3 years, so it is by far the greatest contributor to my average age of accounts on my credit report. When it gets completely paid, does this installment loan history disappear from my credit report like a closed account would?? This is my greatest concern.
Anyone have any insight?
I've read the the history remains on your account for 10 years from when you close. So your AAoA won't take a hit until 10 years from now.