10-04-2011 06:45 PM
So I thought I would still be on my lucky train with my Amex approval this week, why not try for a Discover card. Well I got an instant denial and a letter too.Awesome!! But why my fico TU score here says 703 and discover is saying 688..?? Working on that last collection then onto the judgements!!!!!
FEDERAL EQUAL CREDIT OPPORTUNITY ACT NOTICE: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency which administers compliance with this law concerning Discover Bank, the issuer of the Discover Card, is the Federal Deposit Insurance Corporation, FDIC Consumer Response Center, 2345 Grand Boulevard, Suite 100, Kansas City, MO 64108.
PO BOX 84130
SALT LAKE CITY, UT 84130-4130
October 4, 2011
Thank you for your recent credit application. We sincerely appreciate your interest in Discover Card. After carefully considering your application we are unable to approve your request at this time for the reason(s) listed below. Please disregard any additional correspondence you may have received from Discover Card regarding this application,
If you have any questions regarding this letter, please write to the address listed at the top of this letter.
New Accounts Department
Application Number: 1127721xxxxxxxxx
Letter Code: xxxxxx
Your Discover Card application was processed by a credit scoring system that assigns a numerical value to the various pieces of information we consider in evaluating an application. These numerical values are based upon the results of analysis conducted on repayment histories of a large number of customers. The information you provided in your application did not score a sufficient number of points for approval of the application. Our credit decision was based in whole or in part on information obtained from the reporting agency listed below.
You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency listed below. This agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the consumer reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the consumer reporting agency.
For a free copy of your credit bureau report, contact:
TRANS UNION-CONSUMER RELATIONS
PO BOX 1000
2 BALDWIN PLACE
CHESTER, PA 19022-1000
We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes.
Type of credit score FICO
Your credit score 688
Scores range from a low of 300 to a high of 850
Key factors that affected your credit score were as follows:
1) DEROGATORY PUBLIC RECORD OR COLLECTION FILED
2) % OF BALANCE TO CREDIT LIMIT TOO HIGH ON REVOLVING ACCOUNTS
3) PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH
4) LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
This information was provided to us by FICO , a consumer reporting agency.
If you have any questions regarding this letter, you should contact Discover Bank, issuer of the Discover Card, at P.O. Box 15410, Wilmington, DE 19850-5410.
10-04-2011 07:07 PM
So I thought I would still be on my lucky train with my Amex approval this week, why not try for a Discover card. Well I got an instant denial and a letter too.Awesome!! But why my fico TU score here says 703 and discover is saying 688..??
I would suspect (but could be wrong) that Discover used the newer TU04 version while myFICO sells the older TU98 version.
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".
10-04-2011 07:09 PM
And you say that you recently were approved for AmEx? I hope you don't mind me asking, but which card did you app for, what report did they pull and what was your score? I was under the impression that AmEx primarily pulled Experian, therefore if most of your baddies were on TU then that might explain the denial from Discover. Or did you have the same amount of baddies on both? Were you a prior AmEx customer and if so did they back date you?
10-04-2011 07:10 PM
10-04-2011 07:36 PM - edited 10-04-2011 07:37 PM
I think thats what it is !!!.... MarineVietVet
10-04-2011 07:40 PM
Jasimae...I got approved for the Amex Zync..I suspect they pulled the experian same baddies are on both TU and Ex. I am and AU on a Green card.. Amex says to wait until my zync arrives to have it back dated to 1990!!! I cant wait!!
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.