topic Re: Should I pay a creedit line that has been cancelled? in Understanding FICO® Scoring

Should I pay a creedit line that has been cancelled?

Anonymous — Fri, 24 Apr 2009 23:12:19 GMT

I have one personal credit line that has basically been cancelled. As I have been paying it the utilization does not change. I have paid a couple thousand dollars and it still shows no credit available. should I be paying another credit card that would show my utilization going down instead?

Re: Should I pay a creedit line that has been cancelled?

llecs — Fri, 24 Apr 2009 23:18:47 GMT

If this is a CC it could very well be factored into utilization up until you PIF. You could always do the math and compare it to the util listed on your EQ and/or TU FICO reports. It could still either read the org. CL or the "high balance". If closed, it would never say that you have available credit.

Even if it doesn't factor into util, some CCCs and lenders will charge-off an unpaid balance and eventually report it to a CA. You'd want to PIF ASAP.

Re: Should I pay a creedit line that has been cancelled?

Anonymous — Sat, 25 Apr 2009 01:55:57 GMT

Situations like is what Minimum payments were made for. Make them religiously, take the long drawed out payment history to your death, or until all your other cards are paid off.