Open auto loan that's closed

[Anonymous]

I have a 24 month auto loan that was opened in March of '07 and immediately paid off two months later. It shows up as 'open' on my CR, is this having a positive/negative/null impact on my score?

Thanks!

[Anonymous]

Is it $0 balance. Sometimes it shows up open on 3rd party monitoring services when actually closed. $0 bal should mean closed. On my TC third party monitoring they show open or paid but not closed, but they report $0 bal. When I pull directly from the CRAs they show closed. However sometimes the lender does not report the last payment leaving an open balance and that's a problem. If that's the case contact the lender and force them to fix it. Don't dispute it, lender only unless there is a problem with the lender. Sometimes disputes backfire with something like that.

[Anonymous]

The account is paid and finished, it doesn't show as one of the x open accounts of all accounts in my record. On the overview of all accounts it shows "This account is in good standing". My previous vehicle loan, with the same institution, shows "Account Paid Satisfactorily". Is "This account is in good standing" helping, hurting or neither?

Thanks.

[Anonymous]

Depending on which report I look at some say my auto loans (2 paid off) are $0 but still open...either way as you see in my signature it doesn't affect the score.

[Anonymous]

"This account is in good standing" means it is marked open or the report format you are looking at sees this account as open.

If this is you only installment account- it is helping

If you have other OPEN installment accounts- you can ask the OC to update it.

[Red1Blue]

What CR are you looking at? Many of my closed accounts on EQ still show as open accounts. I think it is EQ style of reporting. They are not really hurting my scores so I am leaving them alone the way they are for now.

[Anonymous]

concord - I would think that is helping you....lower % of open accounts with balances, longer avg. age of accounts.   Right?