Over CL reports?

[Anonymous]

Friend about 6 years ago went over CL when BofA lost his check for one month. Ever since they report over CL. How doeas this effect FICO?  Any suggestions?

[fused]

An CC reporting over-the-limit is worse than maxed-out. The affect on scores would be as bad as a new CO, collection or public record. This situation can get worse if the account is closed, and assume it is. Your friend will have to do whatever they can to get this CC reporting a $0 balance. What's this about BoA? Details.

[Anonymous]

Oh dear, now this really worries me.

I just reviewed all 3 cr's I received from annualcreditreport.com, and those CR's display both the high balance(or high credit) and the credit limit. I counted 4 of my cards that have reported a high credit greater than my cl. Is this effecting my scores adversely?? All are in good standing right now. And all are open, save for one I closed last week(with a $0.00 balance).

I also notice that the "high credit/high balance" line item is not on myFiCO reports. Just an observation.

[haulingthescoreup]

Hi, Sylvia--I got an answer to that the other day. It does show on some of my open FICO reports, but it doesn't affect FICO scoring. (They say!) But I can see that when a lender looks at a full report, they might see it and not be happy.

Can you get CLI's on these open accounts enough to be higher than the oops figures? That might be a bit of insurance. But otherwise, supposedly it isn't factored in for FICO. I have a little asterisk by it in my mind, though!

[Anonymous]

Phew. ty hauling. Makes me feel a little better, and know how you feel.

Yes, my major goal in life right now(other than Christmas, Thanksgiving, the kids, turkey day dinner, the dogs, the weather, the phase of the moon, etc, etc, etc ad nauseum) is getting higher cl's. And those high limit balances all occured 1 year or more ago.

I'm in pretty good shape right now, but we ALWAYS need that extra cushion.

Thank goodness it doesn't effect fico scores. I'll be in the market for an auto loan sometime in the next several years, but not now. In fact, the LACK of any installment loans on my cr's I believe is hurting me scorewise. Oh well, live and learn.

[haulingthescoreup]

I know what you mean. I keep rocketing back and forth between thinking what I need for short-term FICO scoring --which doesn't matter right now-- vs long-term. I finally had to start a notepad note on the desktop to draw up a master plan and refer to it when it all gets to be too much!

Hooray for Turkey Day! DD in New Orleans is coming home, and I am hoping to have a nice restful week by having the entire main floor of the house redone in two days with hardwood and new carpet, while DH is out of town. Nothing like having a little vacation, I always say.

Although I'm at the mercy of the contractors on the scheduling--it might all fall through...

[Anonymous]

Oh let's hope there's no delay! I'll keep my fingers crossed for ya!

Ohhhhh, how I'd love Thanksgiving in N.O. Did it when I was in college with my folks. We love N.O. Went there for 4 summers in a row for vacation. Toured every plantation house from there to Baton Rouge, and beyond.

[fused]

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Sylviatob wrote:
Oh dear, now this really worries me.

I just reviewed all 3 cr's I received from annualcreditreport.com, and those CR's display both the high balance(or high credit) and the credit limit. I counted 4 of my cards that have reported a high credit greater than my cl. Is this effecting my scores adversely?? All are in good standing right now. And all are open, save for one I closed last week(with a $0.00 balance).

I also notice that the "high credit/high balance" line item is not on myFiCO reports. Just an observation.

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As long as they are reporting $0 balances, you have nothing to worry about.

[Anonymous]

Thank you fused.