topic Re: groan AMEX and Other Accounts on EQ in Credit Cards

groan AMEX and Other Accounts on EQ

Anonymous — Thu, 16 Dec 2010 16:44:29 GMT

I just got my alert 21 days since my November Statement and said my balance on Amex increased to $2,610...*grumble* That lowered my EQ score by 13 points ;( While it doesn't go into revolving, the balance does get calculated in your overall debt. I gotta make sure I find the date to when this has to get paid so it reports as 0. That is a sore hit

Re: groan AMEX and Other Accounts on EQ

Creditaddict — Thu, 16 Dec 2010 17:03:26 GMT

@Anonymous wrote:
I just got my alert 21 days since my November Statement and said my balance on Amex increased to $2,610...*grumble* That lowered my EQ score by 13 points ;( While it doesn't go into revolving, the balance does get calculated in your overall debt. I gotta make sure I find the date to when this has to get paid so it reports as 0. That is a sore hit

I don't believe this is correct.... only the old version of TU sometimes calculates this.

Re: groan AMEX and Other Accounts on EQ

Anonymous — Thu, 16 Dec 2010 17:08:39 GMT

It goes into "Other Accounts" and seems to be factored into your OVERALL balance:

AMERICAN EXPRESS

-3XXXXXXXXXX

09/2008

$2,610

12/2010

PAYS AS AGREED

AMERICAN EXPRESS

PO Box 981537
El Paso, TX-799981537
(800) 874-2717

Account Number:	-XXXXX	Current Status:	PAYS AS AGREED
Account Owner:	Individual Account.	High Credit:	$2,610
Type of Account :	Open	Credit Limit:
Term Duration:		Terms Frequency:
Date Opened:	09/2008	Balance:	$2,610
Date Reported:	12/2010	Amount Past Due:
Date of Last Payment:		Actual Payment Amount:
Scheduled Payment Amount:		Date of Last Activity:	12/2010
Date Major Delinquency First Reported:		Months Reviewed:	1
Creditor Classification:		Activity Description:	N/A
Charge Off Amount:		Deferred Payment Start Date:
Balloon Payment Amount:		Balloon Payment Date:
Date Closed:		Type of Loan:	Credit Card
Date of First Delinquency:	N/A
Comments:

81-Month Payment History

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2010

2009

2008

Open Accounts	Total Number	Balance	Available	Credit Limit	Debt to Credit Ratio	Monthly Payment Amount	Accounts with a Balance
Mortgage	1	$155,367	$2,743	$158,110	98%	$1,210	1
Installment	2	$34,154	$13,100	$47,254	72%	$554	2
Revolving	6	$2,830	$3,241	$3,550	9%	$70	2
Other	1	$2,610	N/A	N/A	N/A	$0	1
Total	10	$194,961	$19,084	$208,914	93%	$1,834

Re: groan AMEX and Other Accounts on EQ

haulingthescoreup — Thu, 16 Dec 2010 17:22:23 GMT

Yes, Equifax scores you on total balances, not just straight util. (Reason code #1: "Amount owed on accounts is too high." In fact, all three does this, but EQ seems to hit harder.

Although I'll bet there was something else going on as well. (Score Watch alerts are notoriously imprecise.) Even having an extra account with a balance could have contributed.

Re: groan AMEX and Other Accounts on EQ

fused — Thu, 16 Dec 2010 17:31:48 GMT

@haulingthescoreup wrote:

Yes, Equifax scores you on total balances, not just straight util. (Reason code #1: "Amount owed on accounts is too high." In fact, all three does this, but EQ seems to hit harder.

Although I'll bet there was something else going on as well. (Score Watch alerts are notoriously imprecise.) Even having an extra account with a balance could have contributed.

Good post, as usual.

Re: groan AMEX and Other Accounts on EQ

Anonymous — Thu, 16 Dec 2010 18:55:46 GMT

Thanks folks. Bummer...;(

Re: groan AMEX and Other Accounts on EQ

haulingthescoreup — Thu, 16 Dec 2010 19:13:19 GMT

Cheer up, you'll be back where you were next month. (Although I know exactly how you feel!)

topic Re: *groan* AMEX and Other Accounts on EQ in Credit Cards

*groan* AMEX and Other Accounts on EQ

Re: *groan* AMEX and Other Accounts on EQ

Re: *groan* AMEX and Other Accounts on EQ

Re: *groan* AMEX and Other Accounts on EQ

Re: *groan* AMEX and Other Accounts on EQ

Re: *groan* AMEX and Other Accounts on EQ

Re: *groan* AMEX and Other Accounts on EQ

topic Re: groan AMEX and Other Accounts on EQ in Credit Cards

groan AMEX and Other Accounts on EQ

Re: groan AMEX and Other Accounts on EQ

Re: groan AMEX and Other Accounts on EQ

Re: groan AMEX and Other Accounts on EQ

Re: groan AMEX and Other Accounts on EQ

Re: groan AMEX and Other Accounts on EQ

Re: groan AMEX and Other Accounts on EQ