@Anonymous wrote:
@Anonymous wrote:
1) I'll start by saying I 'get it' yeah, yeah, yada, yada
Now let's get to the REALITY of the situation.
A) Cap 360 is barely the same freaking 'bank' ... just the truth, we can kick rocks and pout all day but with the mixed systems and agendas even the former ING accounts that aren't all within one integrated system... let's not be surprised that, that crap wouldn't be as smooth as an actually integrated institution like BoA or NFCU ....
2) And IMO most importantly I think you guys ask too much of these systems, especially new accounts under even a month old. These are CC accounts not video games, we've gotten spoiled in putting so much pressure on these, no offense, little $300-$500 starter accounts as if it's somehow some playground
Sure the companies want to get paid but we are BEGGING for problems when these systems are overstressed they just weren't designed for how, folks are now slamming them.
Honestly how much and often would a system be set up to accept, process rinse and repeat a $300 40day old CC account?
I know ppl treat CCs like Debit Cards attached to bank accounts but they aren't and no matter how much one runs through a $300 card in a month their profile isn't gonna support a $5000 CL in 60days, so we might want to slow it down and expect that the 1st 90days of a new account is the honeymoon , they don't know you like that
Gemini101 - First I appreciate all your contributions on the boards, I really do. But, I have to completely disagree with you. My opposing view is not opinion, but fact based.
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Holy-CLI-from-Cap1-since-I-started-rebuilding/td-p/4642041
Friend, it can ONLY be opinion very little in terms of what will happen with regards to CLI can described as FACT BASED (that's very dangerous term and position to take)
I as an in-house UW that signed off on a gazillion CCs, loans etc would NEVER use the word FACT, when referencing what IS going to happen in response to X stimuli.
The BEST....one could EVER, again IMHO, do is claim 'generally', 'more likely', 'most often' anything else would no offense be a LIE b/c no one can PROMISE as a FACT...that as one pushes X amount of spend thru a card that it is FACT that their profile would be GUARANTEED a huge or even a little CLI....just by simple sanity that can't be a fact.....credit and internal guidelines just do not work that way.
Too many ppl 'think' it's like a GPA where if the average an A with a C it's a B....that's a FACT....meaning ANYBODY use achieves two A grades and two C grades will by exact formula w/o deviation achieve a 3.0 GPA....which is a FACT.....
CLI's are by nature NOT factual and could NEVER be....we all scratch our heads from time to time as to WHY I or someone else was approved for X or Y or Z
Not trying to be a wise guy here but of course we can share our experience but to assume FACT is DANGEROUS and the type of ish that gets ppl in trouble b/c their neighbor, brother, sister's cousin TOLD them THIS is the way it works.....when even when I worked as a loan officer I from time to time had to tell a 'sure thing' UWing said NO....but cousin Bubba has it down to a FACT c'mon now? we can't be sloppy with words b/c too many will take ish as gospel, to their peril.
My original point was one can't EXPECT to change their overall credit profile just by sending spend through an account and I 100% stand by that...
If a lender has internal guidelines that they standby that's whatthey do, period ....can a vendor change a person's initial internal bucketing, of course....is it a guaranteed FACT that the card holder is in 100% control based upon his/her spend = Fool's Gold......
Organizations have internal mechanisms, guidelines and even differment human beings that make vastly different decisions based on ALL types of nonsense...
there was LIVE Q/A thing-a-ma-thing last night on this forum where a former PenFed employee was discussing how the 'new' CEO felt and ran things differently than the last guy....that being the case, which I believe is it just goes to show that this crap is fluid not factual.....that's why we share DATA POINTS not hard and fast FACTS!
There are generally ALWAYS things and considerations taken into account that cousin Scooter doesn't see or pay attention to.....constantly even on this forum ppl will SAY 'hey my score changed and THE ONLY thing different this month is.....'
experienced ppl know by FACT, the above statement, while commonly held...IS NOT ACCURATE, something else is ALWAYS different but the card holder only focuses on what they see/know/care about.......
Spend example
a) One rebounding profile...a person making it 'back' who was given a modest limit of $300-$500 but has great income and a thick file from the past...will MOST LIKELY be given extra 'love' once he/she starts putting in spend....again one could feel it's highly likely but not a fact
b) Same $300-$500 CL given to a 19 y.o. new to credit marginally employed kid can send the same spend through in his/her 1st 60 days and IN GENERAL the profile will NOT get he 'extra' love afforded the above PROFILE....although factually the same spend came thru the CCC coffers with regard to exchange fees
The overall RISK assumption and/or comfortability STILL may adversely effect one profile vs the other and with 'decent' non discriminatory reasoning....
The same way a guy with 2 repos in his past actually might be considred a better RISK to 'perform' on a 50k car loan vs a new to car credit person with a BETTER overall score but no experience with a car note of that size......sounds odd but if a guy paid 3.5 years before repo once on the BMW and 4 years on the Benz....somebody might see him as a person bouncing BACK to where he PROVED he can hang ....whereas a person with a better score but no HISTORY of success at that level might be looked at has a total flyer
Point being it's always educated 'guessing' and experienced based opinions by definition we can't say FACT
Even FICO itself is a GUESS at the RISK of default not a FACTUAL guarantee of anything
but i enjoyed the question, keep it coming...love this forum
I agree, we all bring good ish to the table and strong opinions that may differ based upon where and how they were formed,
but I respecfully have to object to the promotion of FACTS that can hurt ppl into 'thinking' certain things are in stone, when it just doesn't exist....
not in the way ppl are going to HEAR the term FACT!
