I guess I have a kind of odd utilization question. This affects only Equifax. I have an old car loan from 2003 reporting as open. I don't really want to dispute the fact that it is open because this loan could potentially keep my account age high for a very long time if they never figure out it should be listed as closed. However, now that I have cards and a new auto loan I'm worried about it affecting my utilization. The balance is listed as $0, but on utilization it is still adding on a $244 payment every month.
As you can see in my sig, I have nothing but toy limits so far and that $244 might kill my score. So do I try to dispute that account as closed and take the chance that they just might realize their mistake and delete the TL altogether, or do i leave it alone for the account age. If it gets deleted, my oldest account will be 6 years old instead of 10 years old.
Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
New goal 675
That makes sense on a manual review. I'm just worried because my MPM report is adding it into my monthly payments, so instead of my monthly payment being $493 (which is is for this month) it is showing my payment as $737. So you're saying lenders won't pull anything that reports like MPM does?