I checked my EQ FICO today and it went down from 659 to 651 and since yesterday. When I compared today's report against yesterday's, I found the only difference was one of my Cap1 CC reported a balance $150 higher than yesterday. This amounts to only 3% of my entire utilization. No changes to anything else. No inquiries, etc. FICO sucks
I like Fico.. LOL I had a 747 score. with 2 inquiries. i lost 1 inquiry. score went to 754. Yeah. so i applied for the gm card. now i have 2 inquiries again score still 754.... hmmmmmm.... credit utilization is at 1% Kev
My fako TU score went from 728 to 753 just because I paid off the balance of 131 dollars on a Kohl's account. But my EQ score drops 25 points for 2 inquires and I had the same inq. post to TU but no score drop. Stupid system.
So it looks like kustomkat picked up 7 of cma's 8 missing FICO points. At least we are keeping them in the family!
So that's it Lisa! There are only so many points out there and we just have to grab 'em from someone else! Hmmm... I wonder if there is some way to 'borrow' some points from someone else who has, say, an 800 score... ;-) Well, I agree, I'd rather have my points go to someone on this board than someone else. So where does the line start to get 'em back?
I know that I am safe. No chance in anyone taking in points from me because I don't have them to give!
Mike, I'm curious about something. When that $150 was added to your Cap1 balance, did it take you over 50% of the fake utilization on the account? In other words, what were the before and after utilization percentages of Cap1 only, not based on your real credit limit, but based on the figure they were reporting as your high credit. I think I remember correctly that it cost us 19 points when it happened, with a balance of $167 in our case. Points came right back the next month when the balance went to zero. (Where it will probably remain forever, just on general principles.) DemPooches
Dem, Yes it did take me over 50%! I have a $500 limit (w/ a $505 high balance listed) and went from $238 to $396 balance. I thought that the utilization was spread out over ALL revolving accounts-not on a per account basis! That really sucks because if you have a $500 CC and a $5000 CC and spend $20 that puts you over the limit on the lower one you've just screwed up your credit. I kinda thought this might be the case a couple of weeks ago, so I tried PFB to raise my limits on my Cap1 cards with Mr. Cooke but haven't heard back at all. (You wouldn't happen to have his phone number or email would you?) Thanks Dem for your help. Lesson learned: Stay below 50% on all cards!
Yep Mike, that is exactly what we've found. I'm not sure the rule holds true for all of the EQ scoring models, but it sure has for us. The other thing that mattered in our case was having 5 or fewer accounts with balances. When we had 6, the score took a hit. Went back to 5 and got the points back. ($9 balance involved.) Mr Cooke's phone number is 1-800-955-1455 ext 6418. His voice mail normally picks up. Be sure to leave a detailed message so he can research you a little and hopefully help you when he calls back. All the best with it! DemPooches
