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I recently applied for a auto loan through Ford credit and was denied because they said my score of 684 put me in tier 4 and that made my payment too high? Does anybody know what Ford's tiers are? 684 seems kind of high for tier 4 to me. After I was denied through them I applied through capital one and was approved instantly with a 36k limit, so I'm going to use them. I was just curious about Ford's tiers, seems like they have pretty high standards.
Just curious, did they pull Experian? Because if they did, you may not know your true score, you may have seen a FAKO. Just curious.
@pritchardhallhokie wrote:Just curious, did they pull Experian? Because if they did, you may not know your true score, you may have seen a FAKO. Just curious.
The OP said that Ford Credit pulled the score so you know it's an accurate EX FICO. It could be a FICO Auto Enhanced Score. I don't know if Ford pullls those or not.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Tiers change daily/weekly/monthly- or really at the drop of the hat.
The other thing is: Credit score alone does not determine your Tier: Excessive risk in the deal can drop you into lower tiers.
As in rolling large amounts of nagative equity- that can take you straight to Tier 4 regardless of your score. Bad loan history, or previous loan history with lender.
Where do you see they pulled EX?
@pritchardhallhokie wrote:Where do you see they pulled EX?
You're right that I didn't make myself as clear as I could have.
What I was trying to say is that no matter which score was pulled it would be accurate because the lender pulled.it.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".