Understanding FICO® Scoring

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2BDEBTFREE
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2BDEBTFREE
Posts: 1
Registered: ‎06-29-2007

Opened new account to increase EQ

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‎06-29-2007 11:20 AM

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.
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Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Opened new account to increase EQ

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‎06-29-2007 11:34 AM

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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smallfry
Posts: 4,824
Registered: ‎04-20-2007

Re: Opened new account to increase EQ

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‎06-29-2007 12:47 PM


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?
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