Okay, still new at this and need help!

[Anonymous]

So, I'm looking at the report and saw this...  When my wife was an AU on her grandfathers account he passed away.  She then applied to have the account in her name and was granted that.  But, now, this seems to look like it isn't good.  Does the balance that it shows count towards utilization?  And does the comment "cancelled by credit grantor" mess things up also?  As always, thanks in advance...

AMEX

	Old - 09/18/2010	New - 09/20/2010	Comparison
Account No.:
Condition:	Closed	Closed
Balance:	$1,304	$1,304
Type:	Credit Card	Credit Card
Pay Status:	Current	Current
Past Due:	$0	$0
High Balance:	$2,953	$2,953
Terms:	---	---
Limit:	$20,800	$20,800
Payment:	$0	$0
Opened:	10/17/2006	10/17/2006
Reported:	05/14/2008	05/14/2008
Responsibility:	Terminated	Terminated
Remarks:	Canceled by credit grantor	Canceled by credit grantor

[llecs]

Both the balance and the CL counts towards utilization. Once TU updates it to $0, then both the balance and the CL are removed from utilization as is the mix, I believe. If your (your wife's) utilization outside of this CC is higher than 6.3% (amount on this CC) to 9%, then I wouldn't touch it, even if it reported incorrectly...assuming there were no lates. Now if lates are being added because nobody is paying on it, then I would bail.

The "closed by creditor" doesn't hurt any.

[Anonymous]

According to MyFico, her utilization is at 97% right now.  She only has 3 other cards that total a CL of 5700.  With this balance included, her total owed is about 5500.  So this is what doesn't make sense to me.

[llecs]

Back-pedalling....I guess it doesn't count into utilization. The $5500/$5700 equals the 97%. Is there any red flag next to the TL in the myFICO report on the Accounts page?

[Anonymous]

There is no red flag.  Just to be clear as well, the 5500 is *with* this AMEX account.  We have just secured her anouther $2500 in CLI's that haven't hit yet.  That on top of paying down 1500 on the credit union card will make that go down.  But I'm wondering who I should contact to get this "owed" off.  Just numbers wise tells me that getting that to a 0 balance with help even more with the utilization.  Am I wrong?

[llecs]

I missed that part.

TrueCredit (in your first post) is reporting a $1304 balance, not $5500. Did your DW's TU FICO report recently update to a new balance of $5500 after posting the above?

And to claify, that TU FICO report shows a util of 97% on the second page?