Valued Member
shorttough
Posts: 44
Registered: ‎11-07-2012
Closed Credit Cards with Balances impact on FICO Scoring model.

Hi,

I have 2 closed credit cards with balances of 6000 and 4600.

I also have 13 tradelines with overall Utilization of 36% without calculating the Closed Credit Cards.

 

My question is am i calculating the utilization correctly? or do i have to include the balances as well against my existing credit limit?

 

Thanks

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: Closed Credit Cards with Balances impact on FICO Scoring model.
[ Edited ]

Closed CCs are also included into revolving util provided they report a balance and a CL.

 

Aside from CCs, revolving util also includes LOCs and HELOCs up to a certain limit, and also includes most CO'd CCs provided they still report a balance.

 

ETA...if util is a pos. or neg. factor, it'll be listed within pages 2 or 3 of your FICO report.

Valued Member
shorttough
Posts: 44
Registered: ‎11-07-2012
Re: Closed Credit Cards with Balances impact on FICO Scoring model.

The following is showing in the Credit Report.

 

 

Credit AccountCiti

Status as ofDate opened [?]Date of last activity [?]Credit limit [?]Account Type [?]Account holder [?]Scheduled Payment Amount [?]Industry
Oct, 2012
Sep, 2006
Oct, 2009
$7,800
Revolving
Individual
$97
All Banks
Descriptions [?]
  • Account closed at consumer's request

 

 

 

 

Credit CardAmex

Status as ofDate opened [?]Date of last activity [?]Largest past balance [?]Account Type [?]Account holder [?]Industry
Oct, 2012
Oct, 2003
Oct, 2012
$9,600
Revolving
Individual
All Banks
Descriptions [?]
  • Account closed at consumer's request
  • Credit Card
Valued Member
shorttough
Posts: 44
Registered: ‎11-07-2012
Re: Closed Credit Cards with Balances impact on FICO Scoring model.

notice the AMEX card is not showing any Credit Limit, but just the highest Balance it once had