@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.
@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!
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.
@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.
@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.