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Registered: ‎06-14-2007
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What accounts are used in calculating utlization?

Can someone please tell me if charge offs or collections are used in calculating utilization?  I have huge differences between my 3 reports regarding the % of utilization.
 
Thanks
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Posts: 16,375
Registered: ‎03-12-2007
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Re: What accounts are used in calculating utlization?



tmjacks wrote:
Can someone please tell me if charge offs or collections are used in calculating utilization?  I have huge differences between my 3 reports regarding the % of utilization.
 
Thanks


Very good question! I had to dig deep to find the answer. The only collection and charge-off tradelines that are factored in your util% calcualtions are the ones being reported by the OC (original creditor) whereas any collection or CO being reported by a CA does not.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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Posts: 259
Registered: ‎03-13-2007
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Re: What accounts are used in calculating utlization?

I hate to say this but your are wrong because Presideo is Collection company and they are included in our utilization. My husband only has a balance of 5.00 on his M/C and all the CRA have him at a 1127.00 Balanace due and 74% of Utilization being used. The only Item that he has on his report that would take it to that balance is Presidio. It is the same way on mine I have 2 CC in good standing and only have about 5% Utitlization on them and they factored in the 1268.00 with Presidio on mine as well.
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Posts: 16,375
Registered: ‎03-12-2007
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Re: What accounts are used in calculating utlization?



nikkoslilmouse wrote:
I hate to say this but your are wrong because Presideo is Collection company and they are included in our utilization. My husband only has a balance of 5.00 on his M/C and all the CRA have him at a 1127.00 Balanace due and 74% of Utilization being used. The only Item that he has on his report that would take it to that balance is Presidio. It is the same way on mine I have 2 CC in good standing and only have about 5% Utitlization on them and they factored in the 1268.00 with Presidio on mine as well.


Just because a CA or a CRA  screws up that does not make me wrong.Smiley Happy This is not suppose to happen! Dispute it as inaccurate with the CRA.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Frequent Contributor
Posts: 259
Registered: ‎03-13-2007
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Re: What accounts are used in calculating utlization?

I did several times and they just come back and say they have verified that account and now they say its stays longer than it should they reaged it
What else can I do except go to there office (where ever that is) and knock some since in them. wink smiley
I keep telling the CRA that they are a JDB and should not have that included in my Utilization
any help would be great I need 32 points bad
 
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Posts: 6,182
Registered: ‎03-29-2007
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Re: What accounts are used in calculating utlization?

Fused is right... collection accounts are exempt from util.
Moderator Emeritus
Posts: 16,375
Registered: ‎03-12-2007
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Re: What accounts are used in calculating utlization?

One more tidbit! Collections reporting from a CA do not have CL's, therefore it's impossible for them to be factored in revolving util% calculations. Tusc, I assume this can be disputed but how should they go about doing it?   
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Moderator Emeritus
Posts: 16,375
Registered: ‎03-12-2007
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Re: What accounts are used in calculating utlization?

bump
 
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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