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@Junejer wrote:
If we changed every post where there is an error, that would be all that we did around here.
I agree that the TL is being reported correctly. Account is closed and the CL has been reduced to what they wanted it to be reduced to. OP is at 14000% util, and that's being reported correctly.
Then perhaps you should post a sticky somewhere here explaining that all previous posts on how closed accounts credit limits don't figure into utilization should be ignored as they are incorrect.
People tend to believe what they read here especially when it is a moderator doing the posting.
I'll end this with your own signature line below as I find it appropriate here.
"Do what is true in spite of the consequences--your future is only as true as you are."
VEEnVEGAS wrote:
and delete Fused's sticky on closed cards and their effect on our credit.
One thing to remember is Fused's sticky is about the consumer closing a CC, not the CCC. Most consumers don't choose to close cards with balances. Fused's sticky mentions several times, "with a $0 balance". His sticky is not about CCC closing cards with balances remaining. I admit that I gave incorrect information several times before, because I believed the CL on a closed account with balance didn't count, but the balance did. I corrected myself on this thread if you read back towards the beginning.
In fact one part of Fused's sticky states:
One more tidbit! Closed CC accounts (in good standing) with balances do factor in utilizations percentage calculations whereas closed CC accounts with $0 balances do not.
@Junejer wrote:
The way I see it is if I dig up a post from 2007 and it says one thing and the 2009 post says another, I go with the 2009 information.
As mods, we make changes where we can, yet we can't possibly change every post or 1% of every errant post for that matter. This thread serves as a good example. I don't see a need to take it any further.
Is quoting my siggy supposed to be some sort of arm twisting?
You don't have to go back to 2007 to see this talked about incorrectly...only a week ago.
Arm twisting? No, just pointing out that many people take as gospel what they hear from a moderator here, believing, incorrectly it seems. that you guys have more knowledge generally than the rest of us. A forum such as this is only as good as the information exchanged here.
Do you think that I decided all on my own that credit limits would not count in utilization on a closed account? No, I believed it to be true only because I've read it over and over here, spoken as definite truth. So, suddenly when I say it, it's no longer true??? I would think you would understand my confusion and concern. This only makes me wonder if what I've read here about anything is true.
I know that no one here, moderators included, are privy to inside information on just how FICO really works. We're all going by what we have seen, experienced, or heard others say. So, if this were something I'd only read here a couple of times I wouldn't be bothered by it at all. Do a search here on the subject...this may be the most misquoted "truth" I've ever seen on any board.
I don't mean to sound harsh, and I do appreciate the work you moderators do here. I am simply dismayed to find out that what I've read here for 2 years is wrong information.
Myself, I'm very happy to have been engaged in this particular thread. I'll be sure to point it out to anyone I see questioning on this subject from now on.
Thanks!
Myself, I'm happy to have this cleared up and happy to let you have the final word on the subject (until it pops up in another thread!).
Ya'll have a good day...I'm going out to enjoy the beautiful weather we're having here in Vegas.
Vee