Score went from 710 to 677

Discussion in 'Credit Talk' started by EdG, Jan 23, 2002.

  1. EdG

    EdG Well-Known Member

    WTF I think this credit score stuff is a load of crap. My Equifax score wnt from 710 in November to 677 now. The only thing that changed is that my Target card is now reporting. Ideas anyone????

    Back to the EQ 600 club........
  2. tmitchell

    tmitchell Well-Known Member

    Yep....Average age of accounts took a hit because of the new Target card.
  3. superadman

    superadman Banned

    Two things: number one, on Equifax, the score seems to lag roughly 7 days behind actual activity entries on your report. Number two, I'll bet there are other things that have changed in your situation in the last couple of weeks. Your score is impacted by many, many factors. These could include whether you recently paid any of the bills in any of your tradelines and how much or how little you paid. If you paid everything off to a $0 balance, that could certainly cause your score to drop like it did. Don't say the word "inquiry" near your Equifax report, a few hard inquiries would put quite the dent in your score as well. But there are many, many, other factors.
  4. EdG

    EdG Well-Known Member

    I just figured it out. I combined my two Capital One cards last year. Now one of them reports as closed my consumer 0 balance. Could this be the reason?

    Also I purchased a new car almost two weeks ago that is not yet reporting. My other car loan is reporting as open pays as agreed never late. I wonder what will happen to my score when the new loan starts reporting and the old one is closed out???

    Back to the 600 club...
  5. superadman

    superadman Banned

    Now you're starting to get it. But believe me, it's much too complex for any of us to completely figure out. We can just learn how to attempt to maximize our scores. Many people claim that the FICO is a fraud.

    Here are the score factor codes:
  6. lbrown59

    lbrown59 Well-Known Member

    not i not i not i
  7. FU-TU

    FU-TU Well-Known Member


    I see you mention that paying CC balances down to $0 in a lump sum lowers your score.

    What is the optimum balance to limit ratio for scores?
  8. superadman

    superadman Banned

    Optimum balance is probably $50. But the balance MUST be less than 35% of your limit and MUST be more than $1.00. This has been proven to be the optimum balance range for maximum rapid score growth.

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