Question about Credit Reports

@sedel1027 (17854)
United States
August 28, 2009 8:58pm CST
I have been working on improving my credit for awhile and my number is increasing steady I do have a few "bad" things on my report that are due to drop off early next year. How does that affect my score? I kn win theory it should go up, but will it? Also, What about items that are good, but paid off that have time limits. For example, I had 2 car loans always paid on time and by chance both cars were totaled out in the same year. I just pulled my report and noticed that they are both due to "drop off" off my report in the same year, but a few months apart - base don when the loan was paid off(its a few years form now). What happens when the good stuff falls off of the report? Does your number go down?
1 person likes this
2 responses
@stephcjh (32327)
• United States
31 Aug 09
I am not sure how the credit reporting and scores actually work at all. We have paid things off also and always pay on time also but our score never changes. I think our score steadily goes down but I have no clue as to why. I guess it is because we hardly ever apply for credit anymore.
@sedel1027 (17854)
• United States
6 Sep 09
Apply for credit is supposed to hurt your score though. So I dunno. I think if you have cards and you pay them on time, it helps. The long term loans - like car loans are supposed to help a lot more. How often do you check your score? I use credit karama (its a free website) to check our scores every month then I pull our free credit reports every year using the free annual credit report.
@pyewacket (44036)
• United States
29 Aug 09
I'm never sure about those dumb credit report things either. What is frustrating is that I was able pay off all my credit cards two years ago...BUT I had a history of late payments so even though they were paid off, just because I have a history that I paid late they will still "haunt" me for about another five years. Bummer. as for the "good stuff"---I have positive paid off accounts listed from years ago still on my report...I think they stay on for awhile or maybe permanently???? Why not contact the credit report company and ask them?
@sedel1027 (17854)
• United States
30 Aug 09
If I can't find an answer on my own I will, I was hoping to avoid that lol I pulled all three reports - using the yearly free report - and they all had drop off dates for the good items too. Based on the dates, the good things I 100% paid off - now these were car loans so maybe thats why the expire? - are dropping off 10 years after they were reported as being paid. The only paid off car loan that I have that isn't showing with a date was paid off a few months ago. Not sure why.