I have an old Auto loan that I was never late on, set to to fall off Jun '08. Coincidently, all my negative items will be completely gone around that time. Will my credit score fall when this positive item falls off?
Umm, by statute good tradelines aren't required to fall off after some period of time. In theory, they remain forever, but each bureau has their own rules they follow.
Anytime baddies go away, that's good for you. Losing a good TL might hurt a little, but I suspect the baddies going away will do more good than any loss you'll see from losing the good TL.
Do you have a current auto loan in good standing? Mortgage? Credit card or two? Having these, keeping credit card utilization low, and keeping payments current will keep everything in a good state. If you only have one CC with a low limit, you might think about applying for a second card. Having an AMEX or Discover card, anecdotally speaking, seems to have a more powerful positive affect on your credit than a VISA or MC. Adding one can help a lot.
Word of advice, don't dispute an old paid off account that is mostly good but only with a couple of 30 day lates.
As if trying to build up my own credit isn't enough work in and of itself, I've began working on my Mom's report and she has several medical bill charge offs - she simply cannot pay them because she is unable to work now. I'm going to try to get them settled and/or removed for her. We disputed two old auto accounts, with all three CB's, each had only a couple of 30 day lates - otherwise, perfect record. All I disputed were the lates which probably aren't even affecting her scores now at all anyway. Much to my horror and disgust, when we checked TrueCredit yesterday, two of the three CB's had deleted the accounts COMPLETELY from her record and her scores dropped yet again. I'm assuming they did this because they were old, just over 7 years.
In effect, we lost two mostly positive and lengthy lines of credit from her files due to disputing something that probably didn't even matter to begin with. Lesson learned - I'm sure there will be many more in the learning process. I just feel really horrible that the lesson was learned at her expense and not my own.