@SouthJamaica wrote:
@Anonymous wrote:
@SouthJamaica wrote:And this is based on what? An anonymous 2008 post with no supporting evidence or references?
I prefer calling it a post by a Moderator Emeritus listed under the Helpful Threads in the ""credit card" subforum
Well I prefer calling it a navel orange.
But that doesn't change the facts, and doesn't make its incorrect statements correct.
I know this horse has been beaten to death in other threads recently, but in regards to how FICO scoring treats closed accounts, that post is correct. The confusion comes with how different front ends on various credit monitoring sites display balances and limits. Essentially all of them have a quirk with how summaries are presented (I used an example of my total revolving balances and aggregate utilization percentage reflecting my open HELOC on experian.com, while my revolving limits do not reflect its substantial 6-figure limit; no matter how Experian displays it, Fair Isaac does not use it to calculate my revolving utilization).
If a closed revolving credit card account is reporting the original limit and a balance greater than zero (which is most cases where no delinquency is involved), FICO scoring treats the account the same as if it were open until the balance reaches $0.
