Utilization ratio > 100%?

[JustMe77]

I had a Bank of America credit card that was closed by Bank of America in December 2008 (for missed payments). This was my only credit card and the available credit on the card was $6000. 

At the time the card was closed, the balance was $4700. The balance is now $1300 but since my available credit is now $0, I'm assuming my utilization ratio is > 100%? Is that correct? 

Will paying the balance down to $0 in the next month improve my credit score at all, or has the damage already been done? I obviously want to pay the balance off as soon as possible anyway, but I am not sure if it is reasonable to expect my FICO score to improve as a result, and if so, by how much. 

I read the credit score 101 and did a board search but am still not sure. I'm new to this forum btw, so hello to all.  

[marty56]

Once it is PIF, you will get most of the points back minus the possible hit for AAoA change.  This assumes no other balance increase, new accounts or INQs happen.

[llecs]

To add, the AAoA won't take a hit at all when PIF. It will continue to report as closed and $0 for the next 10 yrs and during that time it will factor into AAoA. Once removed from the reports, then it will impact AAoA.

OP, do your CRs say that the CL is $0? Online via BofA it would, but I was wondering about the CR. What kind of card was this?

BTW, if that was your only CC, you would have taken a big hit for the lack of mix of credit. Ideally you'd want 2 revolving and 1 charge card reporting as open.

[RobertEG]

Interesting question.  My understanding is that when the account was closed, you lost all CL in the denominator of your % util calcalation, and since dividing by zero is not mathematically possible, you can have no current % util calcualtion.  Infinity is not a reportable number.

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