topic Re: How accurate is Score Watch ?? 726 v. 657 bleep. in General Credit Topics

How accurate is Score Watch ?? 726 v. 657 bleep.

badgerviper — Tue, 25 Sep 2012 19:58:34 GMT

According to Score Watch, my credit score was 726 as of 9/9/12. I applied for a Nordstrom card that day and got denied! The letter they sent says they pulled my Equifax on 9/9/12 which reported a 657 !!!!!! How is that even possible?! That's a 69 point difference. As of 9/12/12 (only 3 days later) Score Watch sent me an alert that my credit was at 791 !!

Why am I paying for this service if it is THAT inaccurate ?! Or did Nordstrom mess up and pull the wrong report or something ?!!! Not sure what happened here or what I should do to appeal to Nordys. I have the inquiry on my credit report so I'd at least like to get a card from them. I had zero inquiries for 2 years before this :( major bummer.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

dude11 — Tue, 25 Sep 2012 20:22:25 GMT

Best guess is that Nordstrom may have given you a FAKO score or in other words not a FICO score. Did the later state FICO anywhere? How about a score range?

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

aussiesareforever — Wed, 26 Sep 2012 20:07:35 GMT

I agree. Many lenders use their own scores (non FICO) so looking to see if the number says FICO or if they provided a score range will be helpful.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

LionLaw — Sun, 30 Sep 2012 02:58:46 GMT

Yeah but with a FICO of 726, there's no way the OP should have been denied for a Nordstrom's card. You might have a split file, or the lender otherwise just pulled the wrong report.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

LionLaw — Sun, 30 Sep 2012 03:00:38 GMT

Here's an easy way to tell if they pulled the right report: did you get an alert from Scorewatch that you had a new inquiry?

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

GregB — Sun, 30 Sep 2012 14:08:58 GMT

First, I would double check and make sure that Nordstroms pulled Equifax.

Second, did you ever default on an account that might be associated with Nordstroms or the issuer of the account?

I would not agree that a FICO of 726 would be good enough that you can assume automatic approval. That is just slightly above the median score and there are other factors involved. They may have an issue with utilization, length of history, or other factors on your report. These may be included in their scoring model differently.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

badgerviper — Thu, 25 Oct 2012 19:34:51 GMT

I ended up getting the card.....and yes I received alerts BOTH times they pulled my credit on EQ ! I still have no idea how the heck they got a 657. I haven't had a score that low in almost a year. When I got denied, I wrote a recon letter and enclosed a copy of the EQ report I pulled just a week later directly from Equifax that showed a score of 714. They pulled my credit again to verify I guess and my EQ score came up as 719 so I got the card. $5k flexible limit but kinda bummed they pulled my score a second time even though I never requested/authorized it. I would think that it would be a soft pull at least but nope......2 hards now UGH. I think Nords inquiries drop after 6 months though so that's better than 2 years at least....but still. I had 0 EQ inq for 3 years !

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

HiLine — Thu, 25 Oct 2012 20:17:00 GMT

Your Score Watch FICO score is based on the model used by mortgage lenders. Credit card lenders use a different FICO scoring model, which can give a tremendously different score from what Score Watch gives you.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

badgerviper — Thu, 25 Oct 2012 20:22:34 GMT

<< DUMMY. Yeah, I didn't realize....I only pull directly from each CRA now. Next card I apply for I'm going to order directly from each CRA so I can get a more accurate picture of what's going on. I didn't think the scores could be THAT off. 50-75+ is excessive IMO.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

HiLine — Thu, 25 Oct 2012 21:19:08 GMT

badgerviper wrote:
<< DUMMY. Yeah, I didn't realize....I only pull directly from each CRA now. Next card I apply for I'm going to order directly from each CRA so I can get a more accurate picture of what's going on. I didn't think the scores could be THAT off. 50-75+ is excessive IMO.

My highest difference so far has been 45 or so. Not too far off that range.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

GregB — Thu, 25 Oct 2012 23:47:59 GMT

badgerviper wrote:
<< DUMMY. Yeah, I didn't realize....I only pull directly from each CRA now. Next card I apply for I'm going to order directly from each CRA so I can get a more accurate picture of what's going on. I didn't think the scores could be THAT off. 50-75+ is excessive IMO.

WHAT ?????, do some more research. Your solution to a score that may be only perfectly accurate on a mortgage application is to order scores NOT USED BY ANY LENDER OF ANY KIND?

ALL of the scores provided from the CRAs are FAKOs and are normally WAY off. Only exception is you can dig on EQ's site and get the same EQ FICO sold here.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

badgerviper — Fri, 26 Oct 2012 00:02:07 GMT

I said credit card not mortgage. I'd use FICO for mortgages specifically. The last 2 credit cards I got had scores within 5 points when I ordered directly from the CRA and not one of those "get all 3 scores!" deals....I don't expect the scores to be EXACTLY the same. I do know there is a disclaimer on the websites saying they are using a proprietary model to simulate a score -- I just didn't think it would be 50+ points off.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Shogun — Fri, 26 Oct 2012 07:18:06 GMT

Try over 80... Yes.. have had that on my Experian, bought from Experian then had my credit pulled. So yes, it can be more than 50. I had even contacted EX on it and they said that their score was for education of my credit and not used by lenders.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

HiLine — Fri, 26 Oct 2012 16:27:51 GMT

My highest credit score difference so far is approx. 70. I think we should use any type of credit score as a benchmark for our credit rating rather than as a guess on whether we'd be approved for a certain credit card. Your credit score (even a FICO score) is likely to be very different from what the credit card issuer will use.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Walt_K — Sun, 28 Oct 2012 22:33:21 GMT

badgerviper wrote:
I said credit card not mortgage. I'd use FICO for mortgages specifically. The last 2 credit cards I got had scores within 5 points when I ordered directly from the CRA and not one of those "get all 3 scores!" deals....I don't expect the scores to be EXACTLY the same. I do know there is a disclaimer on the websites saying they are using a proprietary model to simulate a score -- I just didn't think it would be 50+ points off.

You can't assume that the next time you pull your FAKO, it will be within 5 points of whatever specific FICO version a lender is using. And neither FICO nor FAKO is going to track with an internal scoring algorithm. It just happened to be close based on the information that is on your report currently.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

badgerviper — Sun, 28 Oct 2012 23:05:45 GMT

That kinda sucks. Why bother purchasing a score or signing up for anything that provides one since it can be way off. Seems pointless.

topic Re: How accurate is Score Watch ?? 726 v. 657 **bleep**. in General Credit Topics

How accurate is Score Watch ?? 726 v. 657 **bleep**.

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Re: How accurate is Score Watch ?? 726 v. 657 **bleep**.

topic Re: How accurate is Score Watch ?? 726 v. 657 bleep. in General Credit Topics

How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.

Re: How accurate is Score Watch ?? 726 v. 657 bleep.