I have two questions regarding FICO Scores and I would greatly appreciate any thoughts anyone has on this. Question 1. If you have a closed credit card account that still has a balance, does FICO calculate this along with your other credit card accounts in regards to credit limit to balance ratio or is it ignored. Question 2. If this account is in dispute when you pull your FICO is the whole account including credit limit/balance ratio ignored? Thanks for your input.... Skynet83
There are two ways FICO does their computing. 1=They pull the numbers from a hat: 2=They draw straws. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
There is a lot of truth in what the previous poster said. I have been studying this on a daily basis and still have not seen any type of consistency. Having said that, I track my Credit expert score (not a true FICO score but very close) on a daily basis. When figuring my ratio of credit used to amount of credit available, they do not use my closed accounts. But, they do include all credit cards, including the store accounts like Sears, Penneys, Compusa, etc. So someone like me , who has maxxed out all his Visa and Mastercard accounts, still shows only 64% of credit being used. I do not know the answer to your other question
Thanks for the reply. I tend to agree with you about closed accounts. I have heard more than one person say that closed accounts do not count in the equation.
