Question on Revolving account

[CS800]

I  think I have mentioned before that I have 3 BOA account closed but on a payment plan.

All 3 are reporting the lmits. It seems that when I look at MyFico, the revolving amount for EQ is wrong.

I owe about $3600 just from these 3 accounts. Then I owe about $7200 on another card which is also closed (limit of $7500)...

On MyFico it says revolving account balance $8350. But since they are all reporting the limits, Im assuming that EQ is combining those 3 amounts. If that's true, the amount is wrong. My combined CL for all 4 cards is $24500. That gives me a util of 34%.

I also have 3 other credit cards with 0 balance on all 3.

Here are my questions:

1. Once all these closed cards are paid off, the account will be fully closed so technically will I lose the revolving on them also?

2. So I lose these (my oldest cards) will my score drop? According to the simulator (which doesnt know that they are closed accounts), paying them down to 10% will boost me to 680-700. I intend to pay about $4000 of this balance this month.

3. Should I contact EQ and ask them what they mean by revolving balance? I have th ame issue with TU. Seems like the true revolving balance is more than what's on here.

[guiness56]

In order to be counted in utilization, the balance and the CL have to be reported.  If one or the other is not reported, it isn't counted.

A closed account in good standing will stay for up to 10 years from the closed date.  Are these accounts reporting as negative accounts?

The only reports that are truely the most accurate and detailed are the ones you get directly from the CRAs.  What are on the ones from myFICO may not be what is on the ones directly from the CRA.

[CS800]

Out of the 3 closed BOA only one is reporting as Negative as per MyFico (there is a flag next to it). Although they all had 60 day lates in 2007 only one is a negative account; I guess because it was closed by credit grantor. The other two say 'Closed at consumer's request'.

So my logic is that once the closed accounts are PIF (they will be in 1 week) , even though right now their lmits are reporting, once PIF the account will be fully closed and hence their limits will no longer be counted towards my total CL's. Is that true?

Once they are PIF and fully closed will I lose some FICO points since they are fully paid and closed?

How much of a gain in point can I experience droping my util from 44% to 30%?

According to the FICO simulator on here, it said if I paid $3600 right now towards my revolving, I score will be between  639-669. My current TU FICO is 629

[guiness56]

Correct, once paid they will no longer count toward utilization.

You shouldn't lose points but you really never can tell.

Every time you pay down the balance your score should go up.  Going from 44% to 30%, maybe 10 points.