@NoHardLimits wrote:What does myFICO say is the "number of revolving accounts with balances"? I suspect that some of the listed accounts are not considered to be standard revolving credit cards. Look at the detailed description for each account in your credit report. As suggested earlier, some might be considered to be installment loans. Some could also be viewed as consumer finance accounts.
Does myFICO say that your number of "Accounts with Balances" equals 7? If it's less than 7, then one (or more) of your listed accounts isn't included in the utilization calculation. Note: Amex Platinum counts as an account with a balance even though it's not included in utilization.
@mistereman wrote:It says 12 accounts.
12 accounts with balances? Well, there must be other accounts being included besides the ones listed in your original post. You're going to have to go through your account details line by line and try to figure out where the number 12 is coming from and how many of those 12 are deemed to be revolvers. Might not be worth the effort.
@Thomas_Thumb wrote:
@mistereman wrote:It says 12 accounts.
Note: The generic Accounts with balances" includes accounts that are not part of UT calculations. I believe that number includes open ended accounts, PLOCs and installment loans with balances. Not sure how that count helps pinpoint disconnects with reported vs calculated utilization.
@Thomas_Thumb is correct. The generic number of "accounts with balances" seems to include other types of accounts besides credit cards. My personal myFICO report only includes credit cards because I don't have any other type of debt balances at this time. In your case, you will need to comb through your reports account by account to see the description of the account type/term. If the description says "revolving", then it is probably included in utilization calculations. For your Amex Platinum account, it will says something different like "open".