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Does an unpaid CO affect your utilization?

Frequent Contributor

Does an unpaid CO affect your utilization?

 

I have one more collection to pay/remove and I'll have all collections removed. I've had 7 collections removed this month so I had quite a large score jump. 

 

I have 3 open credit cards, two are at $0 balances (paid off in February) and one has 30% utilization which I'm working on getting under 9%.

 

I have a rather biiiiig charge off ($5600 with a $4900 limit, over the limit thanks to late fees & interest)... so if COs do affect the utilization... even if I get all 3 open credit cards paid off, my utilization will still be 100%+, right? Smiley SurprisedSmiley Sad

Message 1 of 6
5 REPLIES
Epic Contributor

Re: Does an unpaid CO affect your utilization?

If the CO'd card is reporting a balance and a CL, then, yes it is being factored into your utilization.  And yes, you are correct, it would be over 100%.

Message 2 of 6
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Frequent Contributor

Re: Does an unpaid CO affect your utilization?


guiness56 wrote:

If the CO'd card is reporting a balance and a CL, then, yes it is being factored into your utilization.  And yes, you are correct, it would be over 100%.



 

Darn. It is reporting a CL and balance. Smiley Mad

Message 3 of 6
Valued Contributor

Re: Does an unpaid CO affect your utilization?

+1 guiness,

When I started my rebuild, it was killing me early on. Once I paid them and they reported a $0 balance, my score starting moving pretty good.
Scores: about 700 across the board
Total CL: $275k
Message 4 of 6
Frequent Contributor

Re: Does an unpaid CO affect your utilization?


madmann26 wrote:
+1 guiness,

When I started my rebuild, it was killing me early on. Once I paid them and they reported a $0 balance, my score starting moving pretty good.

Unfortunately, it'll be least a year before I can even BEGIN trying to pay them.

 

Message 5 of 6
New Contributor

Re: Does an unpaid CO affect your utilization?

SLR72689,

Would you mind sharing with me how you got NCO to delete from your CR's?
I have one small bal account with them and don't know what to say to get them to agree. 

Thanks!


Starting Score: 595 (2/22/13)
Current Score: FICO 624 (4/22/2014)
Goal Score: 700

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Message 6 of 6