Closed Accounts Showing as Open on MyFico Report

[westcoastpeach1965]

So, I had cancelled my membership here and then rejoined after like a week.  I received a new report and my utilization rate was a lot higher than I thought it should be.  I viewed the report provided to me here and noticed that 4 Synchorny Bank accounts that I had closed were showing as open by all three bureaus.  The total debt on them is only about $2,300 combined.  I went to dispute the status and found that they were showing closed on each of the 3 bureaus' websites, so myFico has it wrong, which means the scores they're showing me are incorrect and everything is off because of this.  Is there a way to fix that so that they are reporting things correctly; and why/how would they have it wrong if they are pulling directly from the bureaus?

[RobertEG]

Closed does not remove the balance on a revolving account from continued inclusion in your % util scoring.

[westcoastpeach1965]

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@RobertEG wrote:

Closed does not remove the balance on a revolving account from continued inclusion in your % util scoring.

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I read that it did.  Regardless of that, why are they showing as open with all 3 bureaus when the bureaus themselves are showing them as closed?  Makes zero sense if myFico is actually pulling directly from them.

[Revelate]

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@westcoastpeach1965 wrote:

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@RobertEG wrote:

Closed does not remove the balance on a revolving account from continued inclusion in your % util scoring.

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I read that it did.  Regardless of that, why are they showing as open with all 3 bureaus when the bureaus themselves are showing them as closed?  Makes zero sense if myFico is actually pulling directly from them.

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Sounds like a bug in the presentation; w/balance might be considered open regardless of tradeline status field.

I wouldn't worry about it TBH, it's just awkward.  They do still count for purposes of revolving util though, I'd prioritize paying them off personally.

[RonM21]

If it were me, I would try to start paying them if they still count towards utilization.

[westcoastpeach1965]

Now that I know that they do in fact count, they're going to be paid off pronto. Thanks so much!

[takeshi74]

It is possible for closed revolving accounts with balances to report at 100%.  You generally want to avoid closing revolving accounts with balances.

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@westcoastpeach1965 wrote:

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@RobertEG wrote:

Closed does not remove the balance on a revolving account from continued inclusion in your % util scoring.

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I read that it did.

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Always consider your sources, corroborte, validate, etc.  There's a lot of incorrect information, misunderstanding, assumption, speculation, incorrectly determined causality, etc out there.  I read all sorts of stuff that isn't correct.

I couldn't find a reference from myFICO itself but here's one from Experian:

http://www.experian.com/blogs/ask-experian/2012/08/29/declined-because-revolving-balances-too-high/

If you close some credit cards, you lose those open credit limits and your overall balance-to-limit ratio, also called your utilization rate, will go up even more.

...and some prior threads (do not overlook these as resources) here on myFICO.  The first few hits seem to cover the usual information on the subject.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=revolving+utilization+c...

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@westcoastpeach1965 wrote:

Regardless of that, why are they showing as open with all 3 bureaus when the bureaus themselves are showing them as closed? Makes zero sense if myFico is actually pulling directly from them.

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Data issues with services are certainly possible. The CRA's hold the official record. If you want to sort it out then contact myFICO Support to see what's going on.

[westcoastpeach1965]

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@takeshi74 wrote:

It is possible for closed revolving accounts with balances to report at 100% revolving utilization since there is no available credit.  You generally want to avoid closing revolving accounts with balances.

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I know that now, but was given the wrong information when I closed them.  Since they are small, I am not worried.  I just paid them down a bit more.  They'll all be paid off by next month.  My utilization is still less than 10% even with those (not including my newest 3 cards, which are about $20K in credit with 0% utilization, so I'm in good shape) but I do want to get them off my reports completely.