topic Re: Does 9% UTI counts the same for closed CC accounts? Will report go up? in General Credit Topics

Does 9% UTI counts the same for closed CC accounts? Will report go up?

Anonymous — Thu, 05 Feb 2009 16:23:11 GMT

I just paid my CC account to 9% UTI. But the account was closed by the creditor a few months ago. So I don't actaully have an available balance. Will my Credit Score still bump up? I need my EXP to up its at 589.

Re: Does 9% UTI counts the same for closed CC accounts? Will report go up?

llecs — Thu, 05 Feb 2009 17:48:43 GMT

nikkij6577 wrote:
I just paid my CC account to 9% UTI. But the account was closed by the creditor a few months ago. So I don't actaully have an available balance. Will my Credit Score still bump up? I need my EXP to up its at 589.

Even if closed (w/ no available credit) that TL will continue to factor into utilization (balance / reported CL). So, based on that alone, you'll still get an increase. However, once you pay it off, then it will no longer factor into utilization.

Re: Does 9% UTI counts the same for closed CC accounts? Will report go up?

Anonymous — Thu, 05 Feb 2009 17:51:23 GMT

I guess you wouldn't happen to know how much I could creep up, would you !

Re: Does 9% UTI counts the same for closed CC accounts? Will report go up?

Zahnrosen — Thu, 05 Feb 2009 18:57:53 GMT

That would depend on a lot of factors. 9% is pretty good so I doubt you'll see a large increase. Perhaps a few points, 600 would be nice if it happened.

Re: Does 9% UTI counts the same for closed CC accounts? Will report go up?

llecs — Thu, 05 Feb 2009 22:00:18 GMT

nikkij6577 wrote:
I guess you wouldn't happen to know how much I could creep up, would you !

As mentioned, it would depend on a number of factors, like what the balance was before in relation to the balance now on that CC, w/ the assoc. CL. Also depends on your other CCs and the balances they have in relation to the limits. Moreover, CC COs would probably have to be factored in if impacting util.