If an account is closed with a balance, does FICO still take into account limit to balance?

[Anonymous]

On a closed by grantor, will it make any difference what the balance is, like it would to an open account?  My 2 closed accounts still report a CL with available credit, but they are closed by the grantor.

[Anonymous]

Closed revolving accounts still factor into Utilization until the balance is zero.

[Anonymous]

Utilization... that's the word I was trying to remember!

Thanks for the reply!

[Anonymous]

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stress83 wrote:

On a closed by grantor, will it make any difference what the balance is, like it would to an open account?  My 2 closed accounts still report a CL with available credit, but they are closed by the grantor.

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Closed accounts do not help UTIL.  The only part that counts is the amount OWED. CL on closed accounts does not count toward UTIL.

[Anonymous]

WRONG

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@Anonymous wrote:

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@Anonymous wrote:

On a closed by grantor, will it make any difference what the balance is, like it would to an open account? My 2 closed accounts still report a CL with available credit, but they are closed by the grantor.

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Closed accounts do not help UTIL. The only part that counts is the amount OWED. CL on closed accounts does not count toward UTIL.

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[Anonymous]

These accounts are still reporting a CL (on their own websites adn FICO), that is why I'm thinking they are counting UTL.

[Anonymous]

Because they are.

They will until your balance is zero.

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@Anonymous wrote:

These accounts are still reporting a CL (on their own websites adn FICO), that is why I'm thinking they are counting UTL.

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[fused]

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@Anonymous wrote:
WRONG

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@Anonymous wrote:

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@Anonymous wrote:

On a closed by grantor, will it make any difference what the balance is, like it would to an open account? My 2 closed accounts still report a CL with available credit, but they are closed by the grantor.

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Closed accounts do not help UTIL. The only part that counts is the amount OWED. CL on closed accounts does not count toward UTIL.

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RIGHT!!!

[Anonymous]

I am looking at my credit reports that I have taken directly from the three CRA's.  I have two revolving in a closed status with a balance due and one open with a balance below 50%.  My UTL's are only reflecting the open accounts balance owed and CL.  And the percentage indicated is correct for the open account.  If the other two closed accounts were reflected, the UTL percentage would be alot higher.