myFICO® Product Feedback

[CribDuchess]

I was approved for a third AmEx card last month - the BCE.  I just pulled my reports using Amex's CreditSecure monitoring service and saw that the new BCE is reporting across all three bureaus.  I'm wondering why I didn't receive a ScoreWatch alert for the new Amex account?  The BCE is dating back to 1989, so is that possibly why I didn't receive an alert - because ScoreWatch thinks the account is 23 years old?  I guess that is a good thing, but then I wonder why my score wouldn't increase since I've added an account that appears to be 23 years old?

[llecs]

What day did it first start reporting?

Out of curiosity, did Amex's CS alert you?

[CribDuchess]

On the credit reports, it's showing a date opened of May 1989.  No, AmEx CS did not alert me at all.  Only alert I ever received was for the inquiry on EX.  The first statement closed on 6/12/12.  CreditKarma detected this new account on 6/20/12, but still shows an open date of May 1989.

[669]

CribDuchess

The same happened to me, I was approved for BCP in April and did not get an alert for the "New" AMX account (mine was back dated to 1989 also).

But on 5/31 I got an alert stating that my score had dropped 22 points because of the following:

This score decrease may be caused by these 2 new reasons:

• You have too many credit cards carrying balances.
• You have a consumer finance account on your credit report.

The alert also stated:

Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if:

• There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.
• You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.

And the "new" AMX BCP was on the EQ report that I pulled the same day from here.

[Booner72]

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669 wrote:

CribDuchess

The same happened to me, I was approved for BCP in April and did not get an alert for the "New" AMX account (mine was back dated to 1989 also).

But on 5/31 I got an alert stating that my score had dropped 22 points because of the following:

This score decrease may be caused by these 2 new reasons:

• You have too many credit cards carrying balances.
• You have a consumer finance account on your credit report.

The alert also stated:

Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if:

• There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.
• You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.

And the "new" AMX BCP was on the EQ report that I pulled the same day from here.

---

What is a consumer finance account?

How many of your cc's reported balances?

*Just out of curiosity, thanks in advance.

[669]

Booner72

What is a consumer finance account?place like citifinancial

How many of your cc's reported balances?6

[drkaje]

The Amex is backdated and wouldn't be considered a new account. There was no reason for an alert.

SW has issues but this isn't one of them.