Do close cards count in UTL?

[icyhot]

My BofA card that was closed earlier this year with a balance does not show up in my utilization percentage on credit karma. Of course, it's showing in my closed accounts with a balance. Should I focus on paying off my open accounts first and then work on BofA? Or is Credit Karma just wrong?

[DeeBee78]

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@icyhot wrote:
My BofA card that was closed earlier this year with a balance does not show up in my utilization percentage on credit karma. Of course, it's showing in my closed accounts with a balance. Should I focus on paying off my open accounts first and then work on BofA? Or is Credit Karma just wrong?

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CK uses VantageScore for scoring, which doesn't factor closed accounts into scoring. My AAoA is 2.5 years, but CK says it's 18 months, because it doesn't factor those closed accounts into it. 

FICO models however do factor closed accounts, and it most cases, you're killing your individual utilization by having a closed card with a balance reporting. This is because your reported available credit is $0, while any balance is infinitely higher. 

[icyhot]

Ahhh so I should pay off BOFA first then?

[Aahz]

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@icyhot wrote:
Ahhh so I should pay off BOFA first then?

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If raising your FICO score is your primary concern, then yes.

If saving money/stabilizing finances is your primary concern, then maybe.  It depends on the balances & terms on your other cards.

Generally, the mantra I try to follow is Finances Before FICO.

[icyhot]

Saving money is but the 0% APR is running out on my BofA at the same time as my Quiksilver, which is still open, and I'm not mistaken the remaining balances under the BT terms are about the same