SW reports 22 pt drop due to recent CC use! And botches the reporting?

[Anonymous]

I used a store finance card that had been dormant at $0 for about 6 months or so. My charge put the util at 33% and it posted to CR's before I could get it under 30% (oops!). Well, my EQ dropped from 772 to 750. Eee-ouch! So much for being in the 760+ club! 22 pts seems like a really big hit.

I'm confused at how SW reported it. It says the drop is due to 1 account showing activity after dormancy (expected), but also due to 2 accounts showing balance increases. Those 2 accts are both the same card! The SW alert even shows them ending in the same acct numbers.

Am I to assume that's just a glitch with SW reporting? Haven't pulled my EQ lately but there only one account involved. 

[BungalowMo]

Have you gotten your free reports in the last 12 mos?  Law requires a free report for you from all 3 bureaus.  The link is in my sig block.  It would be good to know what is on all 3, not just what reports to EQ.

[Cotton_Britches]

It's not a glitch. Read the alert carefully. One alert is due to a balance increase based upon the dollar amount. The other is based upon a percentage increase of that balance. They're two different indicators.

If you don't want to receive both alerts, just adjust your settings in Score Watch.

[Anonymous]

That must be it. The recent activity alert states it's for "1 of your previously dormant accounts..." and the balance alert states "2 of your accounts reported balance increases". One of those balance alerts says it's because "...exceeded your alert limit of $" but the other doesn't specify what drove it. It just says "...balance that was previously $0 increased to $...". I'm assuming that one is for a % increase since both would be triggered. It just doesn't specify like the other does.

And why the heck would the alert header say "2 of your accounts" when it's just 2 different alerts for the SAME account?! That's what got me. 

[Anonymous]

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@BungalowMo wrote:
Have you gotten your free reports in the last 12 mos?  Law requires a free report for you from all 3 bureaus.  The link is in my sig block.  It would be good to know what is on all 3, not just what reports to EQ.

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Pulled them all back in Sept 2009, 1 TL for this account on each. Looking closer at SQ, I believe it would have alerted me if this account had gotten duplicated. Too bad SW only covers EQ, nice if we could get all 3 CR's covered. Like the other responder said, I had two conditions in SW that got tripped ($ and %) and the alert just called them out as 2 accounts. 

Just sucks that the drop had to be 22 pts. My TU and EXP are still at 675 or so and a drop on those is the last thing I needed. I need to app for a real CC (1st CC after 10+ yrs of cash only) and this doesn't help my chances, especially since my bank rejected me based on EXP (lingering student loan entry, scheduled to drop in a month or two + two small CA's from 4-5 yrs ago) even though my TU only has the CA's and EQ was sparkling clean. 

[nathan]

Eq hits pretty hard if you decide to use a dormant cc especially if you are in the 700 club. I usually lose an average of 20 points when that happens. When I was in the 600 club, I will lose only an average of 5 points. The good thing is you will get your points back once the cc reports a zero bal.