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Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: July's PSECU EX FICO Score

Members:

 

I am NOT going to press about the FICO score. I will wait to receive it next month.  I DO NOT want this post to get out of hand and upset people like my "Joining PSECU" post and it become locked.  Thanks!

Valued Contributor
mauve
Posts: 2,487
Registered: ‎02-18-2010
0

Re: July's PSECU EX FICO Score

 

I've found that recently, applying for credit seems to come with your FICO score - when I got my mortgage, one of the documents they made me sign that I'd received was my three scores.  When I then applied for the Visa Platinum with my CU, they automatically sent me my TU score.  I haven't checked the mail to see if AMEX and Discover (my other 2 new cards) have done the same - I'm wondering if some places have made it automatic to share your score with you in the wake of the legislation that says they have to share your score with you if it's a basis of denial of credit (i.e., policies changed so they share it whether or not they deny you). 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
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Re: July's PSECU EX FICO Score

 


mauve wrote:

 

I've found that recently, applying for credit seems to come with your FICO score - when I got my mortgage, one of the documents they made me sign that I'd received was my three scores.  When I then applied for the Visa Platinum with my CU, they automatically sent me my TU score.  I haven't checked the mail to see if AMEX and Discover (my other 2 new cards) have done the same - I'm wondering if some places have made it automatic to share your score with you in the wake of the legislation that says they have to share your score with you if it's a basis of denial of credit (i.e., policies changed so they share it whether or not they deny you). 


That's interesting, Mauve. Because my local CU only gave me a $500 CL on a visa and stated low credit score as one of the reasons, along w/limited credit. When I asked for my score, they refused and told me that I needed to get that from TU. I didn't want to get into the fact that TU doesn't sell or give FICO scores, but the LO didn't even know that.

 

Is this legislation federal or state. We really should be entitled to know our score if that is the reason for denial, etc.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Regular Contributor
networkguy
Posts: 217
Registered: ‎04-17-2007
0

Re: July's PSECU EX FICO Score


bichonmom wrote:

 


mauve wrote:

 

I've found that recently, applying for credit seems to come with your FICO score - when I got my mortgage, one of the documents they made me sign that I'd received was my three scores.  When I then applied for the Visa Platinum with my CU, they automatically sent me my TU score.  I haven't checked the mail to see if AMEX and Discover (my other 2 new cards) have done the same - I'm wondering if some places have made it automatic to share your score with you in the wake of the legislation that says they have to share your score with you if it's a basis of denial of credit (i.e., policies changed so they share it whether or not they deny you). 


That's interesting, Mauve. Because my local CU only gave me a $500 CL on a visa and stated low credit score as one of the reasons, along w/limited credit. When I asked for my score, they refused and told me that I needed to get that from TU. I didn't want to get into the fact that TU doesn't sell or give FICO scores, but the LO didn't even know that.

 

Is this legislation federal or state. We really should be entitled to know our score if that is the reason for denial, etc.

 



Did you mean EX?

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: July's PSECU EX FICO Score

 


networkguy wrote:

bichonmom wrote:

 


mauve wrote:

 

I've found that recently, applying for credit seems to come with your FICO score - when I got my mortgage, one of the documents they made me sign that I'd received was my three scores.  When I then applied for the Visa Platinum with my CU, they automatically sent me my TU score.  I haven't checked the mail to see if AMEX and Discover (my other 2 new cards) have done the same - I'm wondering if some places have made it automatic to share your score with you in the wake of the legislation that says they have to share your score with you if it's a basis of denial of credit (i.e., policies changed so they share it whether or not they deny you). 


That's interesting, Mauve. Because my local CU only gave me a $500 CL on a visa and stated low credit score as one of the reasons, along w/limited credit. When I asked for my score, they refused and told me that I needed to get that from TU. I didn't want to get into the fact that TU doesn't sell or give FICO scores, but the LO didn't even know that.

 

Is this legislation federal or state. We really should be entitled to know our score if that is the reason for denial, etc.

 



Did you mean EX?


Transunion.com/cs no longer sell FICO scores either. 

Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
0

Re: July's PSECU EX FICO Score

As others mentioned, each institution has its own policies but it's really silly that they would not give you your score; almost like they love the power that they have. We can look at your credit but we won't tell you. Ok I join your institution, would it be too much to ask to give me my score? With DCU, when I applied with them asn I asked the new member account manager, she just gave it to me no question asked.

 

I mean seriously what's the big secret? It's my darn score and I signed a paper to authorize you to pull it !

 

I can wait one month but the whole thought process behind why they won't give someone their own personal score is just silly and lame. As consumer, we don;t have much control or say in the credit world aaprt from paying bills on time and having the right revolving balances.




Valued Contributor
mauve
Posts: 2,487
Registered: ‎02-18-2010
0

Re: July's PSECU EX FICO Score

 

I'm having trouble finding references, but I remember that when the addition to the CARD act (or perhaps it was in a different piece of legislation) passed, it required any denial of credit that was based on a credit score to furnish you with the credit score and it was ambiguous if said score would be FICO or FAKO.   Someone else has to remember this!

 

Also, it was Federal, not State.


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Moderator
MarineVietVet
Posts: 14,967
Registered: ‎07-14-2009
0

Re: July's PSECU EX FICO Score


mauve wrote:

 

I'm having trouble finding references, but I remember that when the addition to the CARD act (or perhaps it was in a different piece of legislation) passed, it required any denial of credit that was based on a credit score to furnish you with the credit score and it was ambiguous if said score would be FICO or FAKO.   Someone else has to remember this!

 

Also, it was Federal, not State.


Hi mauve.

 

Could you be talking about this discussion on the MyFICO Blog about A new amendment to the FCRA?

 

 

 

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".

Regular Contributor
shadow2k
Posts: 108
Registered: ‎01-04-2008
0

Re: July's PSECU EX FICO Score

 


mauve wrote:

 

I'm having trouble finding references, but I remember that when the addition to the CARD act (or perhaps it was in a different piece of legislation) passed, it required any denial of credit that was based on a credit score to furnish you with the credit score and it was ambiguous if said score would be FICO or FAKO.   Someone else has to remember this!

 

Also, it was Federal, not State.


 

The Risk Based Pricing covered approvals with "less than favorable terms".  Not denials.  And sending you your FICO was one of the two options they had, not a requirement.

 

Denials have been covered for a long time by letting you get a free report and the letter that states reasons for denial.  I believe there is another amendment pending that would make Risk Based Pricing cover denials as well, but I'm too lazy to dig for it right now.  I'm almost positive the wording is the same, the score is not required, just one of the two options.  Some lenders went with scores for all apps because...well, it's likely the easiest solution.  No long, wordy letters, no figuring out who should get it and who shouldn't...just send everyone a score.  It confused many, there were incorrect stories about this amendment on BankRate and Yahoo...but the key is that scores are one option, and currently only for approvals.

 

Hope that helps.

Senior Contributor
score_building
Posts: 3,578
Registered: ‎01-10-2008
0

Re: July's PSECU EX FICO Score

[ Edited ]

MyCreditStinks wrote:

-Cain- wrote:
I may be in the minority here, but I'm gonna go ahead and say it. The free fico score is a perk associated with this CU, not Canon law. Too many people pressing about it may not be a good thing. If you're in, a month shouldn't be an eternity to wait.

Agreed. If the OP does not receive his/her score this month, he/she will get it next month. I know its hard to stay patience, but it will come eventually. I don't see any harm requesting through email, but if they don't willingly grant the request, there is no need to demand it. It will come next month.


+2 Somebody had to say something, just glad it wasn't me this time (am apparently easily mistaken for a rabble rouser :smileyindifferent:) thanks Cain for finding a way to step up w/o ur comment being easily misinterpreted.  There's only one team here AFAIK.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

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