Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
Re: Mortgage Question

No, it isn't hurting. Whether reporting opened or closed, FICO still scores all $0 balance loans as closed, regardless of the reported status. The assumption is that you never can reopen a new loan without getting a new one. 


FICO also ignores the payment amount. That's not a part of FICO scoring. Under a manual review, lenders do consider it, however if the balance is $0 then the assumption is made that it is paid. My mortgage lender ignored all minimum payments on any $0 balance accounts.


I wouldn't touch that account. There's always the risk of them deleting it. And if changed it wouldn't help anything anyway.