does paying off installment loans raise your credit score?

the account was opened 8/1/2007 and has been paid on time every month.

Public Comments

1. It might, or oddly, it might not. They like you to have a certain medium number of accounts/monthly payments. If you have a lot, they hold it against you, and if you don't have enough, they hold it against you.
2. You can improve your credit score with knowledge, some time, some effort and not a lot of money. Start by learning the credit laws in the United States. The big one that will help you is that credit<!--bureaus must respond to disputes in a set amount of time or they have to remove disputed items from your credit report. http://best-loans.awardspace.com/creditscore.htm Get a copy of your credit report and go over it with a fine tooth comb. Find the inaccuracies; almost every credit report has them. Write letters to the credit bureaus, disputing the inaccurate-->items. If they can’t prove it’s correct or don’t respond in time, the items must be removed.