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Got a new Amex Green card and started reporting on TU today. I last pulled TU FICO on 8/15 and pulled it again today once Amex reported on TU.
Drum roll on the point change ....................
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51 Points Lost from 716 to 665 ! ! ! !
Oh well. FYI, there were a couple of changes. Obviously the score dropped and there was a new TL added ($180 balance). There was a new neg. factor added as #4: I had a short revolving history at 7 yrs and 8 months. And there was a new account added w/ a balance. There was also a flag added, I think, to accts opened w/in the past year.
All other items remained the same like balances and util.
ETA...here's the power of a FAKO score. My TransRisk score via NCIDP stayed the same at 680. Maybe if I believe in a FAKO I'll feel better.
fused wrote:
I'm not surprised to hear this. I bet the util is what killed your score, TU 98 includes Amex charge cards in util. I'm guessing if your highest balance and your current balance are the same, this is what did you in.
Nope. Can't be utilization. A $180 balance added to a total CL of over $17k on all other CCs is a tiny drop in the bucket. Util remained the same between both CRs.
I think it boils down to the added account (first in over 9 months) and the added TL w/ balance (from 7 to 8, I think...or maybe 6 to 7?) No matter. The added account w/ balance resulted in a new flag.
@llecs wrote:
@fused wrote:
I'm not surprised to hear this. I bet the util is what killed your score, TU 98 includes Amex charge cards in util. I'm guessing if your highest balance and your current balance are the same, this is what did you in.
Nope. Can't be utilization. A $180 balance added to a total CL of over $17k on all other CCs is a tiny drop in the bucket. Util remained the same between both CRs.
I think it boils down to the added account (first in over 9 months) and the added TL w/ balance (from 7 to 8, I think...or maybe 6 to 7?) No matter. The added account w/ balance resulted in a new flag.
The utilization on the card could have been reported as %100. How does it look on your report? If it says current balance $180 and high balance $180, TU could be looking at that as a maxed out card. Have it report a zero balance next time and see if your score goes up. I think that was part of it along with the new card hit.
llecs wrote:
fused wrote:
I'm not surprised to hear this. I bet the util is what killed your score, TU 98 includes Amex charge cards in util. I'm guessing if your highest balance and your current balance are the same, this is what did you in.
Nope. Can't be utilization. A $180 balance added to a total CL of over $17k on all other CCs is a tiny drop in the bucket. Util remained the same between both CRs.
I think it boils down to the added account (first in over 9 months) and the added TL w/ balance (from 7 to 8, I think...or maybe 6 to 7?) No matter. The added account w/ balance resulted in a new flag.
I'm a little confused, so I'm sorry. LOL! This new Amex card is a charge card, right? If so, what is TU reporting as the highest balance?
OK....I've really fallen off the deep end with this CC. What a curse! With my luck they will close it because of the score drop.
I just pulled EQ and that dropped exactly 50 points!
Arggghhhhhh!
I had pulled EQ on 8/15 and again today. Nothing else is different other than the added Amex, a new flag w/ accts opened in the past year, and a new neg. factor in regards to a new account reporting. Everything else is exactly the same including balances, util, number of TLs (besides Amex), etc.
I need an education................
OK, it was my understanding that Amex does not factor into util except for TU98. TU98 likes to factor it in using the balance in relation to the prev. high balance, right?
EQ and EX don't factor the balance or the high balance at all, right?
I can see it for TU is suddenly one of my CCs shows 100%. That'll kill a score in a hurry, but what about EQ?
BTW, it should be noted that within the past 2 or 3 months, my scores shot up by 50 points. There was no reason to it but I figured it was due to moving into a new bucket with regards to history. The change came exactly on the 1st (June or July).