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My dh's cr says:
Ratio of your revolving balances to your credit limits
350%
how is that even possible, there are no open acts???
Closed revolving acocunts are included in the Util ratio as well.
I signed him up (tu report) here, we pulled it last night. he has no open acts - this is the infi:
history 10 yrs (all closed)
negs - 3
here are the closed acts
Capital One Bank Usa Na | 12/2007 | $1,050 | Charged off as bad debt | Details | ||
National Auto Finance Co | XXXXXXX3835 | 12/2005 | $0 | Payment after charge off/collection | Details | |
Funancing/Gemb | 9/2000 | $0 | Paid or paying as agreed | No | Details | |
Citizens Automobile Fina | XXXXXX2383 | 6/2001 | $0 | Paid or paying as agreed | No | Details |
Chase Na | 6/2000 | $0 | Paid or paying as agreed | Details | ||
Charter One Auto | 6/2001 | $0 | Paid or paying as agreed | No | Details | |
Conseco Financial | 9/2000 | $0 | Paid or paying as agreed | No |
:
is that $1050 the problem?
@Anonymous wrote:is that $1050 the problem?
If you take $1050 and divide it by 350% you get $300. Was $300 the CL of CapOne? If so, then that's the culprit. Are there any other CCs?
ETA....I just saw where you posted there are no other CCs. Yes, closed CCs that report a balance and a CL continue to factor into util. As you add CCs (recommend secured), and after they report, then you may want to PIF the CapOne and you'd see a decent score boost. I can't say that now though since there are no other CCs. Being maxed certainly hurts.
yes it was a $300 limit card... crap how do i help that? i cant do anything about it as it closed right? do he have to open new card with a c/l higher than the 1050? then it would still be 100%???
how can i pif a closed/charged off act?
some of the other ones are joint or au acts from before we met, so i can get a few off those off but if they are reporting 0 bal's it would help right?
Its funny that his credit problems are the exact opposite of mine - he has payment history and amount of debt issues and a great history and amt of new credit.
where as i have great payment history and amt of debt but crappy length of history (2yrs) and amt of new credit (its all new!) LOL
to bad we cant merge - wed be awsome then
should i post in rebuilding?
@Anonymous wrote:yes it was a $300 limit card... crap how do i help that? i cant do anything about it as it closed right? do he have to open new card with a c/l higher than the 1050? then it would still be 100%???
All you have to do is pay is off as fast as possible. As the balance goes down so will your utilization and that of course will help your score. The faster you can get the balance down the faster the score will go up.
I'm sure Cap 1 will be more than happy to accept payments.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Its charged offf
shouldnt that be a zero balance if it a charge off?
can i pay a charged off cc????