05-02-2013 07:27 AM
So my EQ Fico dropped by 16 points Score Watch update says that the score charged and one CC balance deceased.
Will CC balance decreases cause that much of a drop? I'm lost I thought I had a clue , but obviously I don't.
05-02-2013 07:33 AM
Are you certain it said there was a CC decrease? SW doesn't alert you to balance decreases, but will display your new balance if a status or comment changed (e.g. dispute comment, added late, etc.). Any drop wouldn't necessarily be due to the decrease, but due to the change in the TL.
05-02-2013 07:40 AM
llecs this is the e-mail I received from EQ
This e-mail is to notify you that the following changes have occurred on your credit file:
To view the details of this notification, please click on the link below to log in.
To update your alert preferences, please click on Edit Alert Preferences on the Alerts tab in the Member Center.
As always, thank you for your business.
Your Equifax Customer Care Team.
05-02-2013 08:40 AM
Yes... I think this may have happened because my UTL went for 39% to 26% and I opened a VS Angel card (via SP) last moth, although it doesn't look like it is reporting yet and I can't get the details from SW I think their system is down.
So for now i'll just have to do some more investigating and wait it out.
05-02-2013 11:13 AM
If you clicked it now the reasons behind the alert will be plain. If it cited a balance decrease with a score drop, and if the drop was directly linked to that change, then I'd suspect an account changed w/ an added baddie within that TL or status change, an added dispute comment, or it's possible for score drop when a closed account reports $0. But definitely look because the alert wasn't for the balance drop alone; something within that TL changed.
SW alerts also don't provide a clear picture on why the score changed. It provides a net score change. There could be other factors or other changes that resulted in the lost points. Don't assume that X change caused Y points when using SW.
Finally, SW will alert you to the new TL, though that alert you recieved has nothing to do with that (because of the mentioned balance decrease).