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Can anyone please explain it to me, why is in my MyFico account the following difference:
If I go: Monitor Finances, the total balances owed is $202.000
My Total Account Balance is: $142.000
I used to be on my wife's CC accounts, that balance is about $60.000, but I am not an authorized user on those anymore. How long before that will be removed from my report? Do I have to initiate it to be removed?
Thank you for your help.
ulti wrote:
Thank you! Also My score is 714, and there is a percentage number: 46% what does that mean? Thank you in advance
Is this on page two or three of your report (things helping and hurting your score)? If so, then that it utilization. It is calculated by adding up all of your reported balances on all open CC accts (and closed if reporting a balance) and dividing it into the total CLs of all CCs (open, and again closed, if reporting a balance).
Edit to add....if you brought that figure to under 10%, I'd bet you'd see a 35-40 point jump in your score.