pay down closed accounts?

[Anonymous]

How should I handle paying down closed  credit accounts with high balances? I am on a payment plan with the bank, will it help my score to pay more than the agreed payment?

[Anonymous]

If it closed...nothing will help your score...paying on time...or paying as agreed..unless they agreed to delete after payment...or if they agree to update the account as just a closed(paid) account with good standings...as long as they don't report to a CA...

[Anonymous]

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jimee wrote:

How should I handle paying down closed  credit accounts with high balances? I am on a payment plan with the bank, will it help my score to pay more than the agreed payment?

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It really depends. IF these are being counted into your utilization, yes paying them down will help your score.

You have a $0 CL on a closed account. So let's say you have 1 closed account with a balance of $500. One good account with a CL of $500 and balance is only $10.

If the closed account is being figured into util then your util will be:

Total CL - $500

Total Balance - $510

Total Util - 102%

Did you get your reports from here on myFICO? If so, look through them and it should tell you what is helping and what is hurting your score........is utilization listed there. Also, it should show your utilization, what is it?

[Anonymous]

My fico score is from here. These accounts now show closed with high balances, but 0 past due and pays as agreed. Not sure I understand "utilization", and where do I find this? Thanks