topic Re: Capital One duplicate account helping or hurting? in Understanding FICO® Scoring

Capital One duplicate account helping or hurting?

House2021 — Thu, 13 May 2021 13:26:56 GMT

So, as another poster here found out, I had to get a replacement Capitol One card number because someone got my account number and used it fraudulently. Today I look at my credit report from Transunion and I have five open account and an extra $3000 credit limit - all because the Capitol One is reporting as a duplicate, so my question is, what should I do? The extra $3000 is helping my debt utilization ratios due to charge offs making my utilization seem high, but meanwhile it dropped it from AAoA from 4 years 8 or 9 months to 4 years 4 month - should I dispute it so it gets fixed (might fix if I simply activate new card number?) or do I just let it be due to the benefit to credit utilization? I'm only worried about mortgage scores, which is better, good utilization ratios or a slightly longer account age 4 years 8 months versus 4 years 4 months?
(note, I have paid off the charge offs but it might not update that fast and I ended up in escrow faster than expected due to new construction, I have until August and have to structure loan no later than mid July, one charge off May or may not update that fast, I need every last point I can get)

Re: Capital One duplicate account helping or hurting?

nwa479 — Tue, 18 May 2021 03:02:15 GMT

I had a similar situation on Experian a couple months ago when I had a credit line increase that resulted in the account reporting twice, once at the old limit and the other at the new limit. Only one of the two updated the next month, leaving an extra card with a balance when I was trying to hit AZEO.

I disputed it and got it corrected in about 4 weeks. Normally I'd suggest just correct it to what it actually should be but if you have a dispute in process while trying to get a mortgage loan in place there could be issues. Other members more knowledgeable about this issue may add comments.

I would consider holding off on filing the dispute until your mortgage loan is in place. I know it drops your AAOA but only by a few months and not sure this would cross any thresholds on AAOA.

Re: Capital One duplicate account helping or hurting?

House2021 — Tue, 18 May 2021 15:01:54 GMT

I did notice once they reported it gave me a couple point Fico 8 score boost but didn't do anything for my Equifax mortgage score, my credit utilization went from 51 percent to 39 percent utilization just due to the duplicate account.

Re: Capital One duplicate account helping or hurting?

Anonymous — Sat, 22 May 2021 00:47:15 GMT

@House2021 wrote:
So, as another poster here found out, I had to get a replacement Capitol One card number because someone got my account number and used it fraudulently. Today I look at my credit report from Transunion and I have five open account and an extra $3000 credit limit - all because the Capitol One is reporting as a duplicate, so my question is, what should I do? The extra $3000 is helping my debt utilization ratios due to charge offs making my utilization seem high, but meanwhile it dropped it from AAoA from 4 years 8 or 9 months to 4 years 4 month - should I dispute it so it gets fixed (might fix if I simply activate new card number?) or do I just let it be due to the benefit to credit utilization? I'm only worried about mortgage scores, which is better, good utilization ratios or a slightly longer account age 4 years 8 months versus 4 years 4 months?
(note, I have paid off the charge offs but it might not update that fast and I ended up in escrow faster than expected due to new construction, I have until August and have to structure loan no later than mid July, one charge off May or may not update that fast, I need every last point I can get)

@House2021 the old account show a balance or zero balance?