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Visitor
Posts: 4
Registered: ‎08-28-2007
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duplicate open & closed accounts

after reviewing my credit report i have noticed that there are a couple accounts  that are duplicate, one is even on there 3 times. these account are in good standing but some are closed while others are not. will the open & closed duplicate account affect my score? do the open accounts that are near the max amount affect me tremendously due to my debt compare to my limit? please help am confused... thanks 

Valued Contributor
Posts: 2,000
Registered: ‎04-07-2009
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Re: duplicate open & closed accounts

I would work with the creditor to get the duplicate accounts removed from the credit report.
Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Moderator Emeritus
Posts: 16,382
Registered: ‎03-12-2007
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Re: duplicate open & closed accounts


peaches wrote:

after reviewing my credit report i have noticed that there are a couple accounts  that are duplicate, one is even on there 3 times. these account are in good standing but some are closed while others are not. will the open & closed duplicate account affect my score? do the open accounts that are near the max amount affect me tremendously due to my debt compare to my limit? please help am confused... thanks 


Welcome to the forums!

 

Do the duplicate accounts show the same account numbers? If so, this is hurting your scores a bit.

 

1.) If the closed accounts have balances, it may be adversely affecting your scores.

 

2.) Yes, CC accounts that have balances near their credit limits can really damage your scores.

 

3.) May I suggest you read through the link below, Credit Scoring 101.

 

Credit Scoring 101

 

 

Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
Visitor
Posts: 4
Registered: ‎08-28-2007
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Re: duplicate open & closed accounts

Thank you all... you have both given me great advice which cleared my confusion some. oh and i appreciate you telling me where to further get some more info!!!

thanx 

Moderator Emeritus
Posts: 16,382
Registered: ‎03-12-2007
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Re: duplicate open & closed accounts


peaches wrote:

Thank you all... you have both given me great advice which cleared my confusion some. oh and i appreciate you telling me where to further get some more info!!!

thanx 


You're Welcome! Many of us were in the same boat as you at one time. Credit, credit scoring and debt, it can be very confusing and scary. I hope you stick around and learn and enjoy your time here.

Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
Senior Contributor
Posts: 4,834
Registered: ‎04-20-2007
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Re: duplicate open & closed accounts

Actually if the duplicate accounts are positive and bring your AAofA up they are helping.
Moderator Emeritus
Posts: 4,469
Registered: ‎12-31-2008
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Re: duplicate open & closed accounts


smallfry wrote:
Actually if the duplicate accounts are positive and bring your AAofA up they are helping.

 

True!  DH has a duplicate second mortgage (closed) that is helping his AAofA, we will never dispute it - just hope it hangs in there.  On the other hand, a duplicate LOC was hurting his AAofA, we disputed it as soon as it showed up and it came off within 30 days.
Just puttin' syrup on something, don't make it pancakes.
Visitor
Posts: 4
Registered: ‎08-28-2007
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Re: duplicate open & closed accounts

well thanks for the info---but what is AAofA & LOC?

THANKS

Moderator Emeritus
Posts: 4,469
Registered: ‎12-31-2008
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Re: duplicate open & closed accounts


peaches wrote:

what is AAofA & LOC?


LOL!!!  Okay, I'll stop.

 

AAofA is your Average Age of Accounts.  That is the average length of time the accounts on your credit report have been opened.  It doesn't matter if they're open or closed - they average all of them.

 

LOC is line of credit - or an account listed on your credit report

 

Common Abbreviations

 

Hope that helps.  I had a hard time getting my brain around AAofA even when I knew what it meant Smiley Wink.

Just puttin' syrup on something, don't make it pancakes.
Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: duplicate open & closed accounts


beamMEup wrote:

peaches wrote:

what is AAofA & LOC?


LOL!!!  Okay, I'll stop.

 

AAofA is your Average Age of Accounts.  That is the average length of time the accounts on your credit report have been opened.  It doesn't matter if they're open or closed - they average all of them.

 

LOC is line of credit - or an account listed on your credit report

 

Common Abbreviations

 

Hope that helps.  I had a hard time getting my brain around AAofA even when I knew what it meant Smiley Wink.


To further elaborate on AAoA:

 

Your AAoA is the sum of the ages of every account on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical, you're in luck; otherwise, you'll need to run this for each report.

 

 

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
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Whats In Your FICO Score

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