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Please help me understand...Of course it's EQ, who else?

[ Edited ]
I received an alert today that my score decreased by 29 points because I have too many accounts with balances.  Only 3 accounts out of 6 have a balance and my total utilization is 8%.  And it's only that high because of my recent computer purchase.  That is the only reason cited for the decrease.   I don't understand.




Message Edited by HouseHunter on 08-27-2007 08:23 PM
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Re: Please help me understand...Of course it's EQ, who else?

The question becomes - what were your scores?
 
I got a big hit from the high 700s due to a temporary high util (20%) but it all came back over the next two month
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Re: Please help me understand...Of course it's EQ, who else?

[ Edited ]

HouseHunter wrote:
I received an alert today that my score decreased by 29 points because I have too many accounts with balances. Only 3 accounts out of 6 have a balance and my total utilization is 8%. And it's only that high because of my recent computer purchase. That is the only reason cited for the decrease. I don't understand.




Message Edited by HouseHunter on 08-27-2007 08:23 PM


I would assume you charged the computer on a credit card, but just asking if anyway if you opted for a payment plan on the computer?

Message Edited by ilovepizza on 08-27-2007 05:42 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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Re: Please help me understand...Of course it's EQ, who else?

[ Edited ]
Duplicate / deleted.

Message Edited by ilovepizza on 08-27-2007 05:42 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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Re: Please help me understand...Of course it's EQ, who else?



MidnightVoice wrote:
The question becomes - what were your scores?
 
I got a big hit from the high 700s due to a temporary high util (20%) but it all came back over the next two month


It was 691 then dropped to 680 a couple of weeks ago due to two inquiries - making a total of 4 - and some nonsense about a drop due to a finance company account showing on my report.  That account had been there since the first of the year but it took until August to get noticed??? Come on!!!
 
Now it currently sits at 651...I'm so frustrated I could scream.  Have I stated lately how much I despise Equifax?  My other two scores are 696 and 723.  EQ is a royal pain in the you know what.  My total CL is $7900 (all accounts).  I'm using $710 of that available credit.  That would put me at 8.98% utilization.  I'm under the 9% so what gives?
 
Now when I do the score simulator, even if I pay everything off in full, it only estimates that my score will reach 671 - max!  I wouldn't be so upset except that it took me forever to get to even 671 with EQ.  The other two were a complete breeze. 
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Re: Please help me understand...Of course it's EQ, who else?



ilovepizza wrote:

I would assume you charged the computer on a credit card, but just asking if anyway if you opted for a payment plan on the computer?

Message Edited by ilovepizza on 08-27-2007 05:42 PM


No, no payment plan.  It wasn't financed...I applied for and received the Circuit City card at the time of purchase.
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Re: Please help me understand...Of course it's EQ, who else?

Your EQ is like my EX  :smileysad:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Frequent Contributor
Posts: 351
Registered: ‎04-02-2007
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Re: Please help me understand...Of course it's EQ, who else?

Then I know your pain all too well.  To add the icing to the cake, I don't get to deal with Equifax directly...I get to deal with the lovely slow pokes at CSC. 
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Re: Please help me understand...Of course it's EQ, who else?

[ Edited ]

HouseHunter wrote:
No, no payment plan. It wasn't financed...I applied for and received the Circuit City card at the time of purchase.

That would explain much. New account point loss + balance. :smileyhappy: It will rebound after PIF and "60 days for the new fresh account status to dry up". I think you already counted the loss from the inquiry. Temp score drop sounds about right. No worries. :smileyhappy:

"too many accounts with balances" that is an odd message now isn't it. No idea how that popped in there.

Message Edited by ilovepizza on 08-27-2007 10:12 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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Re: Please help me understand...Of course it's EQ, who else?

[ Edited ]
Accounts with balances is a funny thing-

it seems I get hit with the when either:
more the 50% of my accounts have a balance
10/22

Or they can't find anything wrong with my utilization currently at 9%.

I messed up and has my wamu report with a $5 balance last month kicking me to "too many accounts with balances"

FICO is very frustrating. This was supposed to be my month to get my HELOC and now looks like it is going to wait til Jan.

Message Edited by Timothy on 08-28-2007 07:11 PM
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