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Questions about EQ report

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Anonymous
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Questions about EQ report

After being declined by care credit I requested my EQ report from EQ and compared it to the report I pulled here, as usual the EQ is more detailed. Here's a summary of why I was declined...

 

-age of oldest account                                    8 years 8 months, not great but not bad either

-too few  accounts currently paid as agreed     not a late reported ever and all accts say Pays as Agreed

-lack of finance company account information  really not sure about this everything appeared to be correct the day I app'd 

-lack of recent retail account information         maybe they didn't like I haven't used Jcp? But use all other cards?

 

I received my EQ report by snail mail today and I'm not seeing any of these reflecting on this report. All of my accounts say Pays as Agreed. In the current status section on my GEMB/Lowes, GEMB/Jcp & Wells Fargo it says Pays as Agreed, Type Revolving, Charge Acct-Individual Acct Additional Information- Charge Amount in High Credit Column is Credit Limit. Am I understanding this correctly because I'm reading it as whatever my highest charge amount was is my credit limit? However it plainly states for example on Lowes  High Credit- $3120.00,  Credit -  Limit $10K - Bal $1625

 

Is this the CCC's way of cld'ing without actually reducing your cl? Anyone else see this on recent reports from EQ not myfico or have any comments?

 

Message 1 of 3
2 REPLIES 2
Anonymous
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Re: Questions about EQ report

 I'm guessing that no one has seen this type of comment on their EQ reports or maybe haven't received a report directly from EQ recently?
Message 2 of 3
Anonymous
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Re: Questions about EQ report

For reasons completely unknown to me, sometimes instead of the credit limit, the High Balance will be reported. I have three Citi cards and one reports the high balance. For Util purposes, the High Balance is used, so it may appear to Fico that your card is maxed out if your usage is very consistent (ie, your account always closes with a $100 balance, so current balance is equal to the high balance).

You may want to consider buying something very expensive on the card a few days before it reports, then return it after the balance reports. It will ding you score for this month, but should help you out after the new lower balance reports.
Message 3 of 3
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