myFICO® Forums
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Zero Balance?

tag
Get Access Now
Anonymous
Not applicable
‎05-19-2015 08:24 AM
‎05-19-2015 08:24 AM

Zero Balance?

hi all,

 

I recently disputed an old charged off credit card on my report, as a result the balance changed from $863 to $0. I didnt pay it but for some reason it changed. Does this effect my report in any way?

Message 1 of 3
0 Kudos
2 REPLIES 2
TRC_WA
Senior Contributor
‎05-19-2015 08:40 AM
‎05-19-2015 08:40 AM

Re: Zero Balance?

Is the CO still on your report?  If so... you might see a minimal score change.

 

It affects your utilization AFAIK so that will improve... but the CO itself still damages your score for as long as it's on your report.

FICO8 current as of : 4-17-24 EQ: 724 TU: 707 EX: 706
Hard INQs last 12 months: EQ: 5 | TU: 8 | EX: 9
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 27% --- AAoA: 5.5 years --- Income: $200k
Last app: 4-6-24
Message 2 of 3
0 Kudos
Anonymous
Not applicable
‎05-19-2015 10:14 AM
‎05-19-2015 10:14 AM

Re: Zero Balance?

@Anonymous wrote:

hi all,

 

I recently disputed an old charged off credit card on my report, as a result the balance changed from $863 to $0. I didnt pay it but for some reason it changed. Does this effect my report in any way?

As TRC pointed out, it will reduce your UTI. OTOH, it also means that they have almost certainly sold your account to a JDB - be prepared for a collection notice....

Message 3 of 3
0 Kudos
† Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.