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Accounts closed by me!


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But does the utilization factor count for each individual account....or the overall cards, limits and balances.

For instance, lets say a person has 3 credit accounts with $1000 limits on each.

Now let's say one card has a balance of $600 and the others have zero balances.

Does this scenario still have an adverse effect on the FICO score?:|

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Your FICO score is a summarization. In the example you gave you would have $600/$3000. Though you would be $600/$1000, $0/$1000, $0/$1000 and a lender who pulls your credit report could see that...however most of the time it is a simple computer program which denies or approves your application based upon that summary value when compared to their business model.

To shorten...even though your utilization of one card is over 50% the FICO score judges your overall utilization which is 20%.

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