New Contributor
Posts: 54
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

As Of 03/24/2016

TU-675
EQ-647
EX-652
Moderator Emeritus
Posts: 32,865
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.

New Contributor
Posts: 54
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
As Of 03/24/2016

TU-675
EQ-647
EX-652
New Contributor
Posts: 54
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

As Of 03/24/2016

TU-675
EQ-647
EX-652