03-17-2014 07:01 PM
I pulled today's score from myfico and it's still under 700 which seems a bit odd to me.
Experian 725 (myfico)
Transunion 746 (myfico)
Equifax 689 (myfico)
No baddies on any of the reports.
7K balance on 1 card and no balances on 9 other credit cards
Total credit line 36K total used is 7K
1 paid mortgage account
1 current mortgage account
2 auto loans
4 paid $0 dollar balance auto loans
Fico simulator says in 6 months I'll be at 709
Fico simulator says if I pay off 3K more on my card I'll be at 719 ?
Why is equifax ding'ing me so hard?
03-17-2014 07:08 PM
What is the CL on the $7K card? How close is it to being maxed out?
The scores available here vary widely in age -- TU 98, EQ 04, EX 08. They won't necessarily match each other.
03-18-2014 07:49 PM - edited 03-18-2014 07:49 PM
I don't know if EQ 04 is more harsh with maxed out cards than the others.
But you're definitely taking a hit with 93% utilization on that card.
+1, at a swag that's a difference of 15ish points in your case I suspect.
03-19-2014 07:28 AM
You have a maxed out card, and this is a negative for scoring purposes, and different scoring models will weight this differently.
I don't know the exact details of how EQ 04 works compared to the others, but I would expect variations of this sort.