Reply
Established Contributor
Posts: 634
Registered: ‎01-31-2013
0

Which FICO do you get from EQ Score Power? What about SW?

My question is as stated in the title.  A month ago my Score Power FICO was 690.  I've since had a collection removed, a collection with a balance updated to $0, and two new credit cards are reporting.  Score Watch says my current score is 678.

   
  
Frequent Contributor
Posts: 360
Registered: ‎02-20-2008
0

Re: Which FICO do you get from EQ Score Power? What about SW?

Beacon 5.0


Regular Contributor
Posts: 169
Registered: ‎10-11-2007
0

Re: Which FICO do you get from EQ Score Power? What about SW?

Two new credit cards reporting can hurt your score a lot.  When US Bank acquired Kroger credit cards from RBS, my score went way down, because US Bank reported my Kroger account as a new account, even though I had it for years.  And a lot more recently, when I got a new Capital One card, with bonus cash back and no fee, that too caused my score to go down significantly.  So, if one new account can do that to my score, it's easy to believe that two new accounts can make you look like an absolute deadbeat.

 

Established Contributor
Posts: 828
Registered: ‎12-09-2012
0

Re: Which FICO do you get from EQ Score Power? What about SW?

yeah, the new credit cards are pulling your score down. 

Established Contributor
Posts: 747
Registered: ‎10-15-2012
0

Re: Which FICO do you get from EQ Score Power? What about SW?


axxy wrote:

Two new credit cards reporting can hurt your score a lot.  When US Bank acquired Kroger credit cards from RBS, my score went way down, because US Bank reported my Kroger account as a new account, even though I had it for years.  And a lot more recently, when I got a new Capital One card, with bonus cash back and no fee, that too caused my score to go down significantly.  So, if one new account can do that to my score, it's easy to believe that two new accounts can make you look like an absolute deadbeat.

 


Contact your CCC or the CRA to have the proper date reflected. Cap 1 took over two of my cards and they showed the original opening date on my CR.


Starting Score: 515
Current Score: EQ04 689 EX04 693 TU08 723
Goal Score: 700+

Amex BCP $12300 | PSECU $10000 | Discover IT $9250 | Barclay Ring $6500 | DCU $5000 | Citi DC $4600 | Chase Freedom $4000 | PayPal Extras MC $3000 | US Airways $2000 | Cap 1 QS One $2000 | Cap 1 Platinum $1700 | Union Plus $1000 | Target $200
Established Contributor
Posts: 634
Registered: ‎01-31-2013
0

Re: Which FICO do you get from EQ Score Power? What about SW?


axxy wrote:

Two new credit cards reporting can hurt your score a lot.  When US Bank acquired Kroger credit cards from RBS, my score went way down, because US Bank reported my Kroger account as a new account, even though I had it for years.  And a lot more recently, when I got a new Capital One card, with bonus cash back and no fee, that too caused my score to go down significantly.  So, if one new account can do that to my score, it's easy to believe that two new accounts can make you look like an absolute deadbeat.

 


Well, no pain, no gain I suppose.  Thanks for the explanation.

   
  

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.