Score Watch question

[Jazzzy]

My husband and I both received alerts today. Both of our EQ FICOs dropped slightly. This was not unexpected because we recently applied for and got a new cc. Therefore, a ding for the inquiry and a ding for a new account.

My alert said that there was a new account and that a balance has increased. My husband's said only that a balance had increased. We're not aware of a balance increase...but I'm still getting the hang of reporting dates, etc.

My question: Are the reasons given in Score Watch for the FICO change normally right on? Are they usually accurate?

[llecs]

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LynetteM wrote:

My question: Are the reasons given in Score Watch for the FICO change normally right on? Are they usually accurate?

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No. It'll give you a general idea of what to look for but it never tells the full story of why your score increased or decreased. Other things could have happened on your CR that could have caused the change (though it isn't uncommon to lose due to the inquiry or new TL). For example, I have received alerts in the past for score increases due to added inquiries and for balance increases, none of which helped my score. Instead, something either fell off or changed resulting in an increase.