How can I raise my EQ

[Anonymous]

no bads. Credit from 2005.  My TU is 704..my EX is 726.. my EQ 668

I have two cards ..  Cap1 2750cl and BOA amex 1K. 

Do I need higher limits to get my EQ score up? I've tried both.....neither will give it to me.  Hmm maybe another card in the mix?? 

[Anonymous]

The actual dollar amount of your limits is not important.  Only the percentage of reported utilization affects your scores.

What are the differences between EQ and EX?  With such a large disparity there has to be something reporting differently.  I'd suggest you go over both of those reports line by line, compile a list of differences between those two reports, and then follow up here for more input.

[Anonymous]

What are your balances on those cards? What is the age of each account? Do you have any other loans?

Your credit history is short if your oldest account is from '05....meaning you might max out near 740-750 in potential points anyway.

If you don't have an installment loan you are missing a lot of points for credit mix (but I am not recommending a loan just to boost your FICO score - financial responsibilty is more important)

[nathan]

I face the same problem. My eq is stuck at 659 for almost two months now. Here is a summary of my accounts:

navyfed  15k, 61 bal, opened in feb08

navyfed 5k, 0 bal, opened in nov07

hooters 1500k, 65 bal, opened in jan08

orchard, 400, 0 bal, opened in may07

two auto loans, bal, 16k and 5800k

1 student loan

1 collection from 2003

6 inq over one year.

What am i doing wrong here. Is it the one collection that is killing me? i have read people with bankrupcy reach 700. Btw penfed is due to report a new cc with 15k. at first the reason was "you do not have enough revolving accounts, or your limit is low". Now i have more cc with decent tl, where is the love?

[Anonymous]

same problem. I have been stuck on 698 forever.  All my others are over 700. On my red and green scale I have 1 good 2 very good and one great. I just don't understand why they are so much lower.

[Anonymous]

Nathan,

Your negative factors are listed in the order they hurt you. I would guess that your short revolving credit history is really hurting your score as well as the collection. You seem to be managing your credit very well and as accounts age your score should go up significantly. How old are your installments and/or any closed accounts on your report?

[haulingthescoreup]

EQ is death on lates (and collections) of any kind, much more so than the other two.

As for OP, who has no baddies, that's definitely odd. I agree, go through line by line, looking at displayed credit limits, balances, dates, comments, you name it.

[FretlessMayhem]

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@haulingthescoreup wrote:
EQ is death on lates (and collections) of any kind, much more so than the other two.

As for OP, who has no baddies, that's definitely odd. I agree, go through line by line, looking at displayed credit limits, balances, dates, comments, you name it.

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So far we know that EQ hates lates and collections, and EX HATES new accounts. Anyone have any idea what TU hates?

[haulingthescoreup]

In my experience, multiple accounts with balances, and some say not having a mortgage, although that's nowhere near being established.

[Anonymous]

I agree with HTSU's observations about TU, and would add that they also seem to be pickier than the others about total number of overall accounts, as well, whether they have balances or not.