*groan* AMEX and Other Accounts on EQ

[ArisGreek]

I just got my alert 21 days since my November Statement and said my balance on Amex increased to $2,610...*grumble* That lowered my EQ score by 13 points ;( While it doesn't go into revolving, the balance does get calculated in your overall debt. I gotta make sure I find the date to when this has to get paid so it reports as 0. That is a sore hit

[Creditaddict]

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@ArisGreek wrote:

I just got my alert 21 days since my November Statement and said my balance on Amex increased to $2,610...*grumble* That lowered my EQ score by 13 points ;( While it doesn't go into revolving, the balance does get calculated in your overall debt. I gotta make sure I find the date to when this has to get paid so it reports as 0. That is a sore hit

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I don't believe this is correct.... only the old version of TU sometimes calculates this.

[ArisGreek]

It goes into "Other Accounts" and seems to be factored into your OVERALL balance:

AMERICAN EXPRESS	-3XXXXXXXXXX	09/2008	$2,610	12/2010		PAYS AS AGREED
AMERICAN EXPRESS PO Box 981537 El Paso, TX-799981537 (800) 874-2717 Account Number: -XXXXX  Current Status: PAYS AS AGREED  Account Owner: Individual Account.  High Credit: $2,610   Type of Account : Open Credit Limit:   Term Duration:   Terms Frequency:   Date Opened: 09/2008   Balance: $2,610   Date Reported: 12/2010  Amount Past Due:   Date of Last Payment:   Actual Payment Amount:   Scheduled Payment Amount:   Date of Last Activity: 12/2010  Date Major Delinquency First Reported:   Months Reviewed: 1  Creditor Classification:   Activity Description: N/A  Charge Off Amount:   Deferred Payment Start Date:   Balloon Payment Amount:   Balloon Payment Date:   Date Closed:   Type of Loan: Credit Card  Date of First Delinquency: N/A Comments:   81-Month Payment History Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2010 * * * * * * * * * *     2009 * * * * * * * * * * * * 2008                 * * * *

Open Accounts	Total Number	Balance	Available	Credit Limit	Debt to Credit Ratio	Monthly Payment Amount	Accounts with a Balance
Mortgage	1	$155,367	$2,743	$158,110	98%	$1,210	1
Installment	2	$34,154	$13,100	$47,254	72%	$554	2
Revolving	6	$2,830	$3,241	$3,550	9%	$70	2
Other	1	$2,610	N/A	N/A	N/A	$0	1
Total	10	$194,961	$19,084	$208,914	93%	$1,834

[haulingthescoreup]

Yes, Equifax scores you on total balances, not just straight util. (Reason code #1: "Amount owed on accounts is too high." In fact, all three does this, but EQ seems to hit harder.

Although I'll bet there was something else going on as well. (Score Watch alerts are notoriously imprecise.) Even having an extra account with a balance could have contributed.

[fused]

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@haulingthescoreup wrote:

Yes, Equifax scores you on total balances, not just straight util. (Reason code #1: "Amount owed on accounts is too high." In fact, all three does this, but EQ seems to hit harder.

Although I'll bet there was something else going on as well. (Score Watch alerts are notoriously imprecise.) Even having an extra account with a balance could have contributed.

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Good post, as usual.

[ArisGreek]

Thanks folks. Bummer...;(

[haulingthescoreup]

Cheer up, you'll be back where you were next month. (Although I know exactly how you feel!)