@Remedios wrote:So, I'm assuming you're talking about negative reason codes on your report, not the negatives themselves.
Paying off student loans would help if it reduces amount of interest you'll end up paying , but that negative reason code is simply referencing the fact your auto loan is almost brand new, and as such, fully utilized.
If you pay other loans, that reason code will still be there until considerable amount of the loan is paid off.
Question please. I have a similar situation but much less util. Do mortage scores react to number of accounts with balances? I have 6 accounts with balances that I can go to 3. Will this help Mortgage scores?
Also, if I pay off an account, does it still age and count towards my AAoA. Student loans are18 years and I do not want to lose that by payinhg it off. THANKS
Starting Score: 614
Hi there OP, your own thread on this subject has been created in the UFS forum as the thread this was posted in was over a year old. The title has been changed, you are free to adjust it if you desire.
Question please. I have a similar situation but much less util. Do mortage scores react to number of accounts with balances? I have 6 accounts with balances that I can go to 3. Will this help Mortgage scores?
Also, if I pay off an account, does it still age and count towards my AAoA. Student loans are18 years and I do not want to lose that by payinhg it off. THANKS
Yes mortgage scores are the most sensitive of all to number of accounts with balances.
By "pay off an account" I assume you're referring to installment accounts; yes it still ages as long as it continues to be in your reports, which is usually many years.
