Established Contributor
Posts: 641
Registered: ‎01-31-2013
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
Re: Which FICO do you get from EQ Score Power? What about SW?

Beacon 5.0


Regular Contributor
Posts: 172
Registered: ‎10-11-2007
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
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
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: 641
Registered: ‎01-31-2013
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.