topic No idea why - 32 pt JUMP, 661 EQ in Rebuilding Your Credit

No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Mon, 03 Sep 2012 15:49:45 GMT

No idea why but just got SW alert. My EQ jumped 32 pts to 661!!! I don't care about the specific reasons. It was probably my excellent credit habits over the last 3 months.

I get TU quarterly report on 6/12 so hoping for jump there. Perfect timing as I need to get LOC to repair storm damage.

Re: No idea why - 32 pt JUMP, 661 EQ

llecs — Mon, 03 Sep 2012 15:53:16 GMT

Sounds like something dropped.

Re: No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Mon, 03 Sep 2012 18:29:35 GMT

I'll have to check my USAA report and see if I have any changes.

Re: No idea why - 32 pt JUMP, 661 EQ

DaveSignal — Mon, 03 Sep 2012 18:39:29 GMT

Its the beginning of a new month, so your AAoA could have hit a new level as well.

Re: No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Mon, 03 Sep 2012 19:05:17 GMT

I looked at USAA and nothing was removed. So it was probably aging of badies and AAoA. My new credit cards aren't 6 months yet so probably not that. Maybe a little from paying on time.

No telling. Just happy. EQ is my worst score. This almost gets me to 680. I was feeling my scores had stalled. This was an extremely nice surprise after being withou power for over 100 hours and having storm damage my home.

Does EQ give you a named storm adjustment??

Re: No idea why - 32 pt JUMP, 661 EQ

Shogun — Tue, 04 Sep 2012 05:46:38 GMT

Anyway.... Congrats!

Re: No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Wed, 05 Sep 2012 05:12:11 GMT

Thanks. Still havent figured out why my score increased. I will pull EQ report on 9/12 (this is when I get my TU quarterly report and want both from same day). Here is graph of my EQ progress. TU is better but for some reason they dont have same graph for TU service (wish they did).

Re: No idea why - 32 pt JUMP, 661 EQ

vee2four — Wed, 05 Sep 2012 05:37:00 GMT

congratulations.....how did your score jump 100 points in less than 3 months? what was the key issue that led to that score increase? was it paying down credit cards to zero, getting collections off of your report, or a combo of both?

Re: No idea why - 32 pt JUMP, 661 EQ

westo12 — Wed, 05 Sep 2012 05:48:07 GMT

^ I'd like to know this also!

Re: No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Wed, 05 Sep 2012 12:57:41 GMT

I didn't have any open credit cards, I had sworn them off. I opened two secured cards and kept only one reporting a balance around 2% UTIL. I paid old charge off. This took utilization from 115% to around 1%.

Removed all collection accounts. I PFD one and paid/GW the other two v

I disputed two old accounts that were not reporting correctly. One was past 7 years and the other had inaccuracies in report. Both were deleted.

Basically went from 10 or 11 bad accounts down to 4. I'm still working on those now (SM student loan x2, Verizon CO and cap1 auto). It's been a lot of work. But gained 110 in EQ in under 3 months v

Re: No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Sat, 08 Sep 2012 03:18:17 GMT

Figured out reason, I think. My last late occurred in March so this month makes it 6 months since last late. Could that alone caused this jump in scores?

Re: No idea why - 32 pt JUMP, 661 EQ

LIGHTNIN — Sat, 08 Sep 2012 15:20:24 GMT

@Duncanrr wrote:
Figured out reason, I think. My last late occurred in March so this month makes it 6 months since last late. Could that alone caused this jump in scores?

I believe 32 pts, is a too big of a jump for a 6mo reported late.

How about your utilization. Any changes, in reported balances?

Re: No idea why - 32 pt JUMP, 661 EQ

Duncanrr — Sat, 08 Sep 2012 20:18:06 GMT

No change in utilization. I had $6 on WF and let that report zero balance and had zero on cap1 and let that report $50. AAoA didn't change and nothing fell off. July 2011 was last 90 day late (only have two showing and one 5 years old). Maybe that being over a year old contributed to it?

Re: No idea why - 32 pt JUMP, 661 EQ

chasmith — Sun, 09 Sep 2012 12:47:24 GMT

Putting the last delinquency beyond one year should help, but not 32 points IMHO.

It could be that you were "rebucketed" because you've cleaned up so many negatives, and none are within one year.

Re: No idea why - 32 pt JUMP, 661 EQ

Anonymous — Sun, 09 Sep 2012 14:28:29 GMT

Congrats