BigJT Posted January 16, 2012 Report Share Posted January 16, 2012 Part of your credit score is your credit utilization. If I have a $1,000 credit line and a $300 balance, my utilization is 30%. Do the CRAs count charged off accounts when calculating utilization, or just current accounts? Link to comment Share on other sites More sharing options...
BigJT Posted January 18, 2012 Author Report Share Posted January 18, 2012 Anyone know? Link to comment Share on other sites More sharing options...
1stStep Posted January 18, 2012 Report Share Posted January 18, 2012 I don't think it does...if anything, it lowers your available credit and causes your utilization to increase. Link to comment Share on other sites More sharing options...
GrumpyGus Posted January 19, 2012 Report Share Posted January 19, 2012 Charge-Offs are no longer available to be utilized. They are not part of your available credit model and do not factor into the 30% of your score that is Utilization.However, they impact the 35% of your score which is Payment History. The more recent the chargeoff, the more it is hurting you.http://www.creditinfocenter.com/forums/credit-bureaus-reports-scores/210720-credit-scoring-101-a.html Link to comment Share on other sites More sharing options...
willingtocope Posted January 19, 2012 Report Share Posted January 19, 2012 And one further note...CO's hurt your FICO sucker score, but they are deadly to the FICO mortgage score. Mortgage lenders want them taken care of. The FICO new car score is harder to predict... Link to comment Share on other sites More sharing options...
BigJT Posted January 19, 2012 Author Report Share Posted January 19, 2012 Thanks for the info! Link to comment Share on other sites More sharing options...
BigJT Posted March 13, 2012 Author Report Share Posted March 13, 2012 A related question: does utilization include authorized user accounts? Link to comment Share on other sites More sharing options...
Amerikaner83 Posted March 13, 2012 Report Share Posted March 13, 2012 A related question: does utilization include authorized user accounts?Not as much as if it was your own account, if at all. AU is not the same as liability for default. So if I was your brother and added you as an AU to my card with a 10K limit and 0 bal, it would not give you 10K of available credit...because you are not the primary liable party to the account.If it's a JOINT ACOUNT, however, then yes. same example, if I was your brother and you were JOINT holder on my card with 10K available, then yeah that'd affect you. Link to comment Share on other sites More sharing options...
one.last.time Posted March 13, 2012 Report Share Posted March 13, 2012 I had a question similiar to this. Can a person be added to an exsiting credit card account as a joint user? Link to comment Share on other sites More sharing options...
Amerikaner83 Posted March 13, 2012 Report Share Posted March 13, 2012 I had a question similiar to this. Can a person be added to an exsiting credit card account as a joint user?Sure, if the other person agrees to that. Then both parties are equally liable for the debt if anything goes bad. Likely though, the CC company will run the credit of any potential joint account holder. Link to comment Share on other sites More sharing options...
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