Denial Letter has way off fico

[Davis9508]

Hey guys. Hope everybody is well. Has anybody had a denial letter that has a score way lower than you thought? I subscribe to my fico, do discover scorecard, and get my score on a couple of my credit cards. I just got a denial that said my equifax score is 605? MyFico has my equifax at 633 and it's been in that range since I signed up a month ago. Am I missing something?

[mrldp40]

probally using fico 04 or 05 .was it a credit union?

[fltireguy]

Hi!

 Welcome!

  Who was the lender? Some lenders use different models of FICO, and there can be a huge variation in scores as a result...

If you subscribe to MyFico, as you do, take a look at some of the other score models for Eq. Is there one that pretty much matches the score you were given?

[Davis9508]

Thanks! It was Chase. Unfortunately, equifax is my lowest and the one they used. Go figure. The 605 on the letter just shocked me

[Anonymous]

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@Davis9508 wrote:
Thanks! It was Chase. Unfortunately, equifax is my lowest and the one they used. Go figure. The 605 on the letter just shocked me

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Chase used my EX FICO Bankcard Score 8 when I apped for Amazon Visa in February. That could be it. My EX Bankcard 8, fortunately, was higher (687) than my EX FICO 8 (679), but I would guess that isn't always necessarily the case, especially if they are pulling a different bureau. Hope this helps. 

[heyryan]

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@Davis9508 wrote:
Hey guys. Hope everybody is well. Has anybody had a denial letter that has a score way lower than you thought? I subscribe to my fico, do discover scorecard, and get my score on a couple of my credit cards. I just got a denial that said my equifax score is 605? MyFico has my equifax at 633 and it's been in that range since I signed up a month ago. Am I missing something?

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Hmm interesting. Did it actually say FICO? I thought Chase used an internal scoring system called CARS (Card Aquisition Risk Score).

As others pointed out above, FICO models can vary wildly, especially if you have anything that FICO considers negative. Here's my example:

My EX FICO 8 score is around 776, but Wells Fargo gives you EX Bankcard 2 scores every month. It's at around 716 I think, but a couple months ago it had dipped to 687 because of a new account. Some models are FAR more sensitive to certain things (INQs, new accounts, etc.) than others it seems like.