Question about EQ score

2GreenThumbs · ‎04-01-2018

Last month, I accidentally let my Chase close with a $728 balance on a $2000 CL. I got a MyFico alert that my EQ score took a 2-point hit, going from 735 to 733. I paid that balance off and made sure that the account closed at $0 this month.

Today, I got 2 alerts from MyFico. The first said that my balance decreased by 100% (understandably). The second said that the balance on one of my accounts decreased by $728, so I know it was chase.

Here's the kicker...my EQ score went up +77 points!! What?! I don't understand how this could be. I'm not complaining, but what could explain such a crazy jump? Thoughts?

DollyLama · ‎04-01-2018

@2GreenThumbswrote:
Last month, I accidentally let my Chase close with a $728 balance on a $2000 CL. I got a MyFico alert that my EQ score took a 2-point hit, going from 735 to 733. I paid that balance off and made sure that the account closed at $0 this month.

Today, I got 2 alerts from MyFico. The first said that my balance decreased by 100% (understandably). The second said that the balance on one of my accounts decreased by $728, so I know it was chase.

Here's the kicker...my EQ score went up +77 points!! What?! I don't understand how this could be. I'm not complaining, but what could explain such a crazy jump? Thoughts?

The scores for EQ were quite a bit off according to the signature from TU and EX

Current Scores: EQ 733 | TU 781 | EX 761

Was this one EQ file dirty vs the TU and EX with more lates or a charge off or collection that was due to age off?

Anonymous · ‎04-01-2018

There are very few things that can result in a 77 point gain and all of them should be pretty glaring. A dramatic pay down in utilization, say going from 75% overall to 5% could do it, or getting a major negative item removed taking you from a dirty to a clean file could be another reason.

Thomas_Thumb · ‎04-01-2018

It looks like the pay off triggered a pull for a score. This score shift behavior is indicitive of a negative dropping off your EQ report. The lack of shift on the other two suggests the derogatory is still on the other reports or had dropped off previously. You should check your reports - I use Credit Karma (EQ & TU) and Credit.com (EX) to look at account details.

More information on accounts would be helpful.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950

2GreenThumbs · ‎04-01-2018

@Thomas_Thumbwrote:
It looks like the pay off triggered a pull for a score. This score shift behavior is indicitive of a negative dropping off your EQ report but remains on your other CRA reports. You should check your reports - I use Credit Karma (EQ & TU) and Credit.com (EX) to look at account details.

More information on accounts would be helpful.

Thanks for the info. I'm not eligible for a new 3B from My Fico until June, so I went to Credit Karma to check my reports there. I had a discharged Ch. 13 for which I had EE from both TU and EX. The last hold out was EQ. It was due to drop off my reports the end of May 2018. After logging into my CK account, it looks like EQ EE'd about 2 months early. All my reports are all 100% clean! Yay!

Anonymous · ‎04-01-2018

Very cool! Nice job figuring out what the issue was