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Opened new account to increase EQ

New Visitor

Opened new account to increase EQ

I signed up for TrueCredit, and was alerted today that my EQ score dropped 63 pts.  I thought opening a new account is suppose to increase your score not decrease.  TU increase 23pts and Ex 5pts.  Does anyone know why the decrease.  I have not pulled my true FICO score yet, so I wonder if it would have decreased as well.
2 REPLIES
Moderator Emeritus

Re: Opened new account to increase EQ

Welcome, please read the Scoring 101 thread. We need more info about your reports. What TLs do you have? Any baddies? What is your util?
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Senior Contributor

Re: Opened new account to increase EQ



2BDEBTFREE wrote:
I signed up for TrueCredit, and was alerted today that my EQ score dropped 63 pts. I thought opening a new account is suppose to increase your score not decrease. TU increase 23pts and Ex 5pts. Does anyone know why the decrease. I have not pulled my true FICO score yet, so I wonder if it would have decreased as well.



Why would you pull your new FICO score now?