Is it ok to close installment loans as long as you keep one open?

[Anonymous]

I have four installment loans, would it hurt my fico any to close 3 of them as long as I keep one open under 9%?

[M_Smart007]

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@Anonymous wrote:

I have four installment loans, would it hurt my fico any to close 3 of them as long as I keep one open under 9%?

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@Anonymous, As long as you have one open, you are good

ETA: Under 8.9% is optimum

[Anonymous]

Thx

[M_Smart007]

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@Anonymous wrote:

Thx

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You are welcome

[Anonymous]

+1

[SouthJamaica]

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@Anonymous wrote:

I have four installment loans, would it hurt my fico any to close 3 of them as long as I keep one open under 9%?

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Yes it's fine

[Anonymous]

I just didn't want to tank my AAoA those 4 loans being 9 years old is what is propping up my AAoA, if they are closed I know they stay on the reports do they keep aging, and do they keep counting towards AAoA

[M_Smart007]

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@Anonymous wrote:

I just didn't want to tank my AAoA those 4 loans being 9 years old is what is propping up my AAoA, if they are closed I know they stay on the reports do they keep aging, and do they keep counting towards AAoA

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They should for up to 10 years after closing them.

I have some reporting "closed" more than ten years ago.