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Hi my EQ score has dropped very rapidly. Below is the info.
Score - Jan 22 2014 -> 701
In the month of Jan and Feb, Amex Delta Gold, Bank of America card (new accounts ) reported.
Still Chase united, Amex PRG yet to report.
Now my AoA is showing as 0 (Hope the they don't turn into negative when the above 2 cards report)
My util is same still around 8%.
My score today is 601. Getting scared if any lenders take AA because of huge decrease?
@newUser0 wrote:Hi my EQ score has dropped very rapidly. Below is the info.
Score - Jan 22 2014 -> 701
In the month of Jan and Feb, Amex Delta Gold, Bank of America card (new accounts ) reported.
Still Chase united, Amex PRG yet to report.
Now my AoA is showing as 0 (Hope the they don't turn into negative when the above 2 cards report)
My util is same still around 8%.
My score today is 601. Getting scared if any lenders take AA because of huge decrease?
If this is a FAKO dismiss it, it its a FICO there is something else going on, new accts & AAoA decrease does not equate to 100 pt drop
I have no idea if it's FAKO or FICO.
I see from www.equifax.com website (Some Primer Advantage plan )
@newUser0 wrote:I have no idea if it's FAKO or FICO.
I see from www.equifax.com website (Some Primer Advantage plan )
FAKO.
@gdale6 wrote:
@newUser0 wrote:Hi my EQ score has dropped very rapidly. Below is the info.
Score - Jan 22 2014 -> 701
In the month of Jan and Feb, Amex Delta Gold, Bank of America card (new accounts ) reported.
Still Chase united, Amex PRG yet to report.
Now my AoA is showing as 0 (Hope the they don't turn into negative when the above 2 cards report)
My util is same still around 8%.
My score today is 601. Getting scared if any lenders take AA because of huge decrease?
If this is a FAKO dismiss it, it its a FICO there is something else going on, new accts & AAoA decrease does not equate to 100 pt drop
With an AAOA of '0' it could be a huge drop. Between the two new accts, 4 inq's I would expect a significant drop.
Oh!!
I guess my only saver is Amex PRG reporting as Backdated to Feb 2013. It might boost my AoA by couple of Days atleast.
That will help. As others have mentioned FAKOs are for educational purposes. My guess would be closer to 20-35 points with AAOA less than 1
@newUser0 wrote:Hi my EQ score has dropped very rapidly. Below is the info.
Score - Jan 22 2014 -> 701
In the month of Jan and Feb, Amex Delta Gold, Bank of America card (new accounts ) reported.
Still Chase united, Amex PRG yet to report.
Now my AoA is showing as 0 (Hope the they don't turn into negative when the above 2 cards report)
My util is same still around 8%.
My score today is 601. Getting scared if any lenders take AA because of huge decrease?
Wasn't there a post here a few days ago which stated that in regards to FICO scoring, there is no such thing as an AAoA of less than one year? In other words, even if you have your first new card, your AAoA will still be 1 year? Please correct me if I misunderstood, or if the post was not correct. Thanks.
I have had, AAoA from 0 Months, 1, 2 so on... So I am pretty sure, you got some wrong info that AAoA can't be less than a year.
@newUser0 wrote:I have had, AAoA from 0 Months, 1, 2 so on... So I am pretty sure, you got some wrong info that AAoA can't be less than a year.
That's what I figured...but I was just informed by PM that the point was that FICO scoring will not go below the 1-year level. So for instance, if FICO gives you 10 points for AAoA of 1 year, they won't give you 5 for 1/2 a year, etc. I'm sure this is all conjecture, but I was just curious if anyone could verify the original post. Thanks for your input.