topic Re: Which FICO do you get from EQ Score Power? What about SW? in Understanding FICO® Scoring

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

Anonymous — Thu, 28 Feb 2013 17:42:12 GMT

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.

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

basballguy — Thu, 28 Feb 2013 18:04:28 GMT

Beacon 5.0

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

Anonymous — Fri, 01 Mar 2013 17:26:24 GMT

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.

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

Anonymous — Fri, 01 Mar 2013 19:56:13 GMT

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

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

Simply827 — Fri, 01 Mar 2013 21:00:42 GMT

@Anonymous 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.

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

Anonymous — Sat, 02 Mar 2013 18:22:44 GMT

@Anonymous 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.