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Utilization Help on Closed Accounts 60pt Score Difference

Established Member

Utilization Help on Closed Accounts 60pt Score Difference

Hi All,


After working on raising my scores across the board, I’ve narrowed down the one difference between my Vantage FAKO vs. FICO (on all three reports) and it appears to come down to how util. is factored on closed accounts with balances, so was hoping to find some suggestions on whether taking out a new card (pre-approved for Discover IT 0% BT for 18 months) or perhaps doing a debt consolidation loan on the two closed cards with balances would help out more.


Current Open Cards:

Chase Freedom Unlimited: $425 Balance / $5600 Limit

Capital One Quicksilver One: $65 Balance / $1500 Limit

Sears Mastercard: $0 Balance / $1800 Limit


Closed Cards with Balances: (not charged off, current on all payments)

Chase Sapphire Preferred: $1900 Balance / $5000 Limit

Bank Of America Amex: $2060 Balance / $500 Limit (was reduced prior to closure back in 2015)


Both Credit Karma and FICO both show total credit limit of $8900. However Credit Karma shows only 6% Utilization (3 open cards), and FICO shows 50% Utilization (all 5 cards). My score with CK is 735 across the board, and FICO is around 680. I would imagine if I could get these closed balances paid, my FICO score will increase significantly if I can get out of the 50% util that is reporting there. (Two screenshots below on FICO vs. CK)


Are my best options to 1) Pay closed balances as soon as I can 2) go for the discover pre-approval and transfer those two balances over to a new card or 3) do a debt consolidation loan for those two balances and pay them off that way?


Thanks again for the suggestions!




Community Leader
Super Contributor

Re: Utilization Help on Closed Accounts 60pt Score Difference

Closed accounts with a balance are factored in overall, but the credit limit are taken out of the equation. So I would work on getting the balances paid off asap on the closed accounts first!
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