Can someone explain this please?

[Anonymous]

My nemesis Capital One bank, I have an old CO account due to fall off in Nov 2016. I decided to subscribe to myfico and this is what shows up.

All 3 bureaus are showing a CO as an open account. Is that possible? Shouldn't it be listed as a closed account? Is this why myfico says that I have a 30% untilization? I actually have less than 8% if this is not included. Im always wondering why my scores do not go up & I think this might be why.

Account 6 of 8

Profile

Company	Capital One Bank Usa	Capital One Bank Usa Na	Capital One Bank Usa N
Loan Type	Credit Card	Credit Card	Credit Card
Account Number	-	XXXXXXXXXXXX	XXXXXXXXXXXX
Account Holder	Individual	Individual Account	Individual
Date Opened	Dec, 2009	Dec, 2009	Dec, 2009
Status Payment Timeline Status Date Mar, 2016 Mar, 2016 Mar, 2016 Condition Open Open Open Last Activity Jan, 2010 - Not Available Balance $659 $659 $659 Status Charge-off Charged off as bad debt Unpaid balance reported as a loss by credit grantor

[Anonymous]

It's 7yrs plus 180 days from first date of delinquency. Not the open date.

[Anonymous]

And yes. Unless it's paid it will show the balance bringing your UTI up.

[Anonymous]

I understand that part. Also the cra agencies are the place where I got the date for deletion.  They are saying Nov 2016

Im wondering why a charged off account is reporting as "open"

[Anonymous]

It's a tactic to get people to pay. My UTI was almost at 200% at one time.

[Anonymous]

Ok. I should've figured that. I spoke to a mortgage broker that said not to pay it all, it'll drop my score.

[Anonymous]

Yea it stinks. I can't say if it will increase or decrease. Mine increased because my UTI went down. If it has a deletion date on the report you could call the CRA's and ask for the deletion.

[RobertEG]

A closed credit card only means the creditor has closed the account to further charges.

Once the account has become delinquent to the degree that they have charged-off the debt, yes, they have also closed the account to further charges.

If you go into a store and attempt to use the card, it will almost assuredly be declined.

So you are correct.... the account is almost assuredly closed, and they have just neglected to report as such with the CRA.

However, it is not substantive.  The balance of a closed account is still included in your % util, so it will not make a difference.

Personally, until the account is paid, I would not bother disputing the status of Open.