topic Utilization questions in General Credit Topics

Utilization questions

alipz — Sat, 14 Mar 2020 04:10:28 GMT

Do closed credit cards in good standing with zero balance get factored into available credit?

Charged off credit card shows balance owed, but not the credit limit? Can they do that and is it affecting my utilization?

Are collection account credit limits or amounts owed included in my utilization?

Thanks!

Re: Utilization questions

mikesonthemend — Sat, 14 Mar 2020 04:24:54 GMT

@alipz wrote:
Do closed credit cards in good standing with zero balance get factored into available credit?

Charged off credit card shows balance owed, but not the credit limit? Can they do that and is it affecting my utilization?

Are collection account credit limits or amounts owed included in my utilization?

Thanks!

Closed accounts are not available.

Re: Utilization questions

M_Smart007 — Sat, 14 Mar 2020 15:28:09 GMT

@alipz wrote:
Do closed credit cards in good standing with zero balance get factored into available credit?

Charged off credit card shows balance owed, but not the credit limit? Can they do that and is it affecting my utilization?

Are collection account credit limits or amounts owed included in my utilization?

Thanks!

While contributing to your AAOA ..Closed accounts stay on your reports for up to 10 years,

but are not calculated into your overall credit line utilization.

Re: Utilization questions

Anonymous — Sat, 14 Mar 2020 15:50:32 GMT

@alipz wrote:
Charged off credit card shows balance owed, but not the credit limit? Can they do that and is it affecting my utilization?

Yes, Yes & Yes. Sorry.

Caveat: I am no expert but I am reasonably certain this is correct.

Re: Utilization questions

SouthJamaica — Sun, 15 Mar 2020 02:44:01 GMT

@alipz wrote:
Do closed credit cards in good standing with zero balance get factored into available credit?

No

Charged off credit card shows balance owed, but not the credit limit? Can they do that

Yes

and is it affecting my utilization?

Yes

Are collection account credit limits or amounts owed included in my utilization?

Please define what you mean by a "collection account".

Thanks!

Re: Utilization questions

alipz — Sun, 15 Mar 2020 21:12:14 GMT

Thanks!

A credit card was charged off and sent to a collection agency. Would that balance owed be included in my utilization?

Re: Utilization questions

FireMedic1 — Sun, 15 Mar 2020 22:31:06 GMT

If a charged off credit card shows a balance. They still own it. If it shows a $0 balance they dont own it and sold it to a collection agency. Now onto a collection for that credit card. If the balance on the credit card is $0 and a collections bought it out. The CA owns it. If there is a balance still being shown by the creditor and you still have a collections on it. They are collecting on behalf of the OC or original creditor and the CA doesnt own it.

Whoever owns the account is who you want to deal with to get it over with so it quits updating monthly and can age and fall off.

Re: Utilization questions

alipz — Mon, 16 Mar 2020 01:52:21 GMT

My report is such a disaster! I've paid off a few collections and a charged off card that was still reporting.

I'm also trying to get my utilization down, but unsure what all is included.

Appreciate your feed back.

Re: Utilization questions

SouthJamaica — Mon, 16 Mar 2020 02:29:45 GMT

@alipz wrote:
Thanks!

A credit card was charged off and sent to a collection agency. Would that balance owed be included in my utilization?

The balance would, I believe.

The limit would not.

Re: Utilization questions

SouthJamaica — Mon, 16 Mar 2020 02:31:23 GMT

@alipz wrote:
My report is such a disaster! I've paid off a few collections and a charged off card that was still reporting.

I'm also trying to get my utilization down, but unsure what all is included.

Appreciate your feed back.

When a person has chargeoffs and collections, that's a much bigger issue than utilization. If I were you I would just concentrate on trying to dispose of the negatives.