Closed Accounts With Balance Factor into UTL How?

[PayYouNever]

I have two CC accounts that are closed at my request and are being paid thru a DMP (they still have balances), I'm about to come into some money that I want to use to pay off some debts. How are the closed accounts affecting my UTL? Therefore affecting my FICO score? If I pay off at least one, what affects will that have?

Obviously my total debt is reduced, but will the closed Cap1 account (with numerous lates in 04 and 05) hurt me significantly or superficially?

[Anonymous]

closed w/a balance shows 100% uti, and can have as much a negative fico scoring effect as a recent collection. ya, they are costing you major points!

[Anonymous]

Closed accounts with a Bal...is usually very bad for UTIL   you do not get credit for what the CL use to be  BUT  they include what you owe into your total UTIL

Message Edited by HappyDays on 01-24-2008 07:43 PM

[PayYouNever]

So it's in my best and immediate interest to pay off these closed accounts w/Balances to boost my score. I'm going to kill the Cap 1 account immediately, knock off $400 from my UTL balance that has no off-setting CL.

The Chase one is interesting, because last month I qualified for their ReAging Program which basically stated that they were going to list it in the "Positive Accounts" in my upcoming CBRs... we'll see...