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Accounts With Balances

Discussion in 'Credit Talk' started by WALLST, Apr 25, 2003.

  1. Apr 25, 2003 #1
    WALLST

    WALLST Well-Known Member

    Just an FYI,

    On EQ I had 10 accounts with balances 8 Revolving and 2 Auto loans(installment) and my score was 644. I use my Chase WalMart card which previously had 0 balance. It reported today with the new balance and my score fell 6 pts. to 636. The difference between 10 and 11 accounts wit balance cost me 8 points. I will pay off the WalMart card in the next billing cycle to see if I get those 8 points back.


    WALLST
     
  3. Apr 26, 2003 #2
    lbrown59

    lbrown59 Well-Known Member

     
  4. Apr 26, 2003 #3
    Butch

    Butch Well-Known Member



    Most likely it was the increase in Debt/Credit Line Ratio that cost the points.

    :)
     
  5. Apr 26, 2003 #4
    WALLST

    WALLST Well-Known Member

    Butch,

    It was definately the extra account reporting the balance because I also got the too many cards with balances reason code, where with 10 accounts and the higher score, I did not have that reason code.

    WALLST
     

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