Correct -- Information on a credit report seems to hang on FOREVER! When I first obtained my credit report there was one old loan reported that I could not remember -- then it finally dawned on me -- it was the "no payments for a year" freezer we bought for our first house. The loan was paid before the year came due, but the record of that paid loan is still on my credit report.
I presume that as time goes on, and you rebuild your credit, the record shows your increasing responsibility, and the likelihood of a bank loaning them money increases, simply because they have shown financial responsibility.
That purchase was a lesson in a different manner -- the financing charge was pretty close to what we would have paid in interest to the bank had we borrowed from them for the purchase. Since that time we have stayed well clear of the *&^%#@ consumer loan sharks.
To the OP: There are those amongst us whose credit is higher than all but 2.52% of the population -- you should aim to emulate them. As others have stated -- pay off your loans, speak to a credit counselor about the Rogers debt, and live in a fiscally responsible manner. Once you have a credit card, use it cautiously to pay expenses for which you already have the cash & have to buy anyway such as paying utilities, groceries, etc. this way you can rebild a creditworthy record and eventually be in a position to obtain credit in greater amounts and at better rates.
DAvid
