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New Contributor
tbc
Posts: 65
Registered: ‎09-25-2011
0

GECRB

I received a letter in the mail today denying credit.  Ok, I am in the rebuilder process, TRUST ME I CAN HANDLE REJECTION!  

 

My question is this.  They say my experian score was 363 and I pulled my experian paid the I dont' remember what fee, and I got this?  Where did GE get their score from?

 

Thx, you guys are wonderful.  According to my fico from my start date last January I have increased my score from 350's  to 542 as of Dec 6.

 

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Score Date:12/08/2011

1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
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Regular Contributor
jason86423
Posts: 240
Registered: ‎01-10-2011
0

Re: GECRB

Was the denial score specifically a FICO score or did it just say credit score.

 

GE seems to have its own variation of a credit scoring system for their card approvals.

New Contributor
tbc
Posts: 65
Registered: ‎09-25-2011
0

Re: GECRB

Thanks for replying.  It just says 363.

 

I just called the Experian number on on my denail letter and it told me to go to experian/now for an immediate copy of my credit report.

 

I called back twice to make sure I heard it correctly.  

 

 

When I re read my letter it says some information from experian, and some from a credit scoring system was used to evaluate my application.

 

Lack of bank revolving information

Too few Revolving Accounts

Too many Inquiries in the last 6 months.

 

 

So, is there anything I can do?  

 

I have worked so hard on increasing my credit score, and doing the right things.  Granted it was just a store card, and in my wallet now I have NFCU, CAP ONE, FIRST PROGRESS, all secured.  BBRZ unsecured.

 

I am good with gardening, now that I have NFCU and grow with them, I guess it was hard to swallow the 363.

 

 

1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Established Contributor
AndyK
Posts: 913
Registered: ‎06-09-2011
0

Re: GECRB

I honestly don't know how you could have a FICO score that low, so it's more likely to be a FAKO. Did it give you any kind of range? Like some of them say that from X - 999, you scored a Y. Pretty good giveaway about it being a FAKO at that point.

Now, the ones that match the same score range as FICO, it can be harder to tell.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
New Contributor
tbc
Posts: 65
Registered: ‎09-25-2011
0

Re: GECRB

yes, it says 

 

Your credit score    363

Date 11/25/11

 

Scores range from a low of 300 to a high of 620

 

 

I read on and it reads:

 

Information about your Credit Score used in this evaluation for credit

 

In addition, we also used a credit score developed by us in making our credit decision, Your credit score is a umber that reflects the information in your credit report.  Your credit score can change, depending on how the information in your credit report changes.  The credit score below was developed using standard industry methods and was used to evaluate your application.  The credit score may differ from the score you obtain from a consumer reporting agency.

 

 

 

Key Factors

 

Too many inquiries in the last 6 months

too few revolving accounts 

Lack of bank revolving information

Accounts in collection or 60 days past due or adverse public record

 

 

 

 

Went back to my Experian:

 

Are you currently delinquent on any accounts?
Time Since Negative

It has been 2.3 Years since the last time negative information was listed on one of your accounts.

 
Is there negative information on your report?
Accounts Listed Negative

You have 6 Account(s) Listed Negative on your Credit Report. This means that at some point you were late or failed to pay on the account as agreed.

 
Accounts in Collections

You have 3 Account(s) in Collections on your Credit Report. These are included in your total of Accounts Listed Negative.

 

 

1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
New Contributor
tbc
Posts: 65
Registered: ‎09-25-2011
0

Re: GECRB

so, I wonder if its worth calling and speaking with them?

 

1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Regular Contributor
jason86423
Posts: 240
Registered: ‎01-10-2011
0

Re: GECRB

That is not a FICO score.  FICO Scores range 300 to 850

 

The range you are being given is a scoring model used by GE that is a FAKO.

Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011
0

Re: GECRB

Nope!

New Contributor
tbc
Posts: 65
Registered: ‎09-25-2011
0

Re: GECRB

thx bunches.

 

I am on a quest now.......lol

 

HOw do they utilize their scoring system.? 

 

MYFICO scores were in the mid 300's when I started this rebuilding quest.  I had been hit hard medically a few years ago, and well.  Here I am.

 

I just want to keep walking the ground as I have done this past year.  200 point increase is significant.  I had noooooo credit.......none.  Time will pass and I will pay for delete the other 6 items, and the 3 in collection will fall off next year, if I don't get to them before they fall off.

 

I will just add this to my failure file...........and go back to gardening.  

 

If anyone else has suggestions, and or ideas about what to do about this, or understands their scoring process center I would be most appreciative.

 

Thx everyone.

 

 

1-1-11 350's TU/EQ
MYFICO TU 656
EQUIFAX 593 TODAY
GOAL: HEAVEN
Regular Contributor
Gollum
Posts: 139
Registered: ‎10-09-2011
0

Re: GECRB

[ Edited ]

tbc wrote:

 

[snip]

They say my experian score was 363 and I pulled my experian paid the I dont' remember what fee, and I got this?  Where did GE get their score from?

[snip].

 

Your Credit Score
Score Center
Get notified when your score changes by
updating your Score Alert Settings. 566

Score Date:12/08/2011



tbc,

 

Consumers cannot get their FICO score directly from Experian anymore.

 

Clicking on the links you provided shows webpages with the domain name

[experiandirect.com]

 

whois shows that domain name is registered to

[Consumerinfo.com, Inc.]

 

Googling for

[consumerinfo.com]

makes me think you got a score called "Experian PLUS," which is not a FICO score.

I also noticed that there are quite a few complaints regarding [consumerinfo.com].

 

Perhaps you fell for the TV advertisements.  Try googling for

FTC free credit report


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