I have an account with Discover that I closed in Oct of 2003. The account has no lates, but it does still have a balance of $378. My credit line was $1000 on this card. Since the account is closed, does this count against my utilization percentage? Does fico care wheather the account is open or close, in this specific instance? I also have a bloomingdales card that is about $500 over the limit, but still active. Does FICO merge these two accounts to come up with the utilization percentage?
I think that FICO throws out closed account credit limits, but sees the balances, which affects your utilization negatively. Who can be sure with FICO? LOL
BALANCE OWED is added to the other balances on the open accounts...BUT THE CREDIT LIMITS OF THE CLOSED ACCOUNTS ARE NOT CONSIDERED...
