CRA's adding CO's to UTIL rate

[Anonymous]

Is it normal for CRA's to report CC CO's in FICO 8?

I currently have CO's balance's of 11K and they are showing in my util rate. Is there a way to get them to not show those closed CO accounts in util rate? I have been paying on time for last 4 years.

[RobertEG]

If it is the balance on a revolving account, the fact that the account is delinquent and/or closed does not remove it from still having a % util of the credit limit.

The consumer just cannot charge additional debt on the account.

Taking and reporting a charge-off does not relieve the consumer of the debt, or reduce the debt balance.

It is standard scoring.

[Anonymous]

This is happening to me too.  Eperian does not add my charged off accounts to the utilization but the other 2 agencies do.  For EQ, which shows 3 CO accounts that are not on my other reports, this practice is killing that score.  

[Anonymous]

Yes this happens and once I paid the CO my score jumped. The utilization was killing my score. 

[RobertEG]

The creditor is requried to promptly update the balance if the consumer makes payments, so you can complaint/dispute if you are paying it down and the creditor is not promptly reporting the updated balance to the CRA.

It will only become $0 if the debt is paid, cancelled, discharged under BK, or the creditor sells the debt to a debt collector.

There is no reason why the debt should not be included in % util of revolving.  The CO does not negate the debt.