Paid Auto Loan still shows on my Credit Report

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arom2445

Joined: 06 Jan 2010
arom2445's page
Posts: 2

29 Magic Points

Subject: Paid Auto Loan still shows on my Credit Report

Wed Jan 06, 2010 2:27 am

I had a Auto loan with Capital One and I traded in that vehicle and got a new car. The car was paid for and shows that its paid and closed. Do I leave this on? Does it affect my score in anyway?

Thanks!

goodnatured

Joined: 03 Nov 2007
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Posts: 3927

10 Magic Points

Wed Jan 06, 2010 2:37 am

paid and closed is good as long as it is in the positive column, you should be okay.

You will not be able to have it removed anyway, it will fall off in 7 years. As long as it is in the positive column, it should not have any negative affect on your report.

arom2445

Joined: 06 Jan 2010
arom2445's page
Posts: 2

29 Magic Points

Wed Jan 06, 2010 2:40 am

Gotch! Thanks for the quick response Goodnatured!

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1889

1356 Magic Points

Subject: credit

Thu Jan 07, 2010 10:56 am

If it's a 'positive' credit inquiry, I don't think it does fall off.......but, please correct if I'm wrong. I have a few accounts, on my CR, that are 'positive'. However........they are pretty old ones (more than 7 years..I know that). I have no reason to 'dispute' them...since they ARE 'positive' accounts.

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