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Frequent Contributor
credit4me
Posts: 348
Registered: ‎06-27-2007
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WAMU

I recently received a WAMU card with a CL of 2500. So, when I set everything up on line with them they showed me a score of TU614. But the next month it showed TU561.. What's up with that??


Starting Score: 576
Current Score: 724
Goal Score: 850

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Established Member
fico777
Posts: 17
Registered: ‎07-11-2007
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Re: WAMU

Hi,  I have the same option on my WAMU.......when you got your first score,(the top of your credit summary has a (CREDIT PROFILE TAB) when you click the tab it will take you to your TU score and profile.Under your Fico score there is a place to click on,PRIMARY REASONS.If you click on that ,you can hopefully compair your two statement periods and see why they HACKED your score so bad.
 
 
Hope this helps!  
Frequent Contributor
credit4me
Posts: 348
Registered: ‎06-27-2007
0

Re: WAMU

Thanks!! It looks like the opening of new CC's made it drop... Stating to many new accounts.


Starting Score: 576
Current Score: 724
Goal Score: 850

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Established Member
Gawtti
Posts: 20
Registered: ‎07-26-2007
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Re: WAMU

so, does anyone have any advise on when to get another CC without hurting my FICO? i already have a BOA secured card, 6 months now, with a CL of $500.
Frequent Contributor
credit4me
Posts: 348
Registered: ‎06-27-2007
0

Re: WAMU

I think it will hurt you in the short-term anyway you do it...  One new CC at a time might not do that much damage but then that's another inquiry.. Either way I think the system stinks:smileymad:


Starting Score: 576
Current Score: 724
Goal Score: 850

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Established Member
adrevolution
Posts: 24
Registered: ‎07-13-2007
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Re: WAMU

With a Wamu CC, do you always get to look at your TU score?  Also, is it the real score or a FAKO?
 
Thanks!
Frequent Contributor
credit4me
Posts: 348
Registered: ‎06-27-2007
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Re: WAMU

The WAMU score is a Bankcard enhanced FICO score a.k.a FAKO :smileyhappy:
 


Starting Score: 576
Current Score: 724
Goal Score: 850

Take the FICO Fitness Challenge
Established Member
missdesire
Posts: 20
Registered: ‎07-26-2007
0

Re: WAMU

I think whenever you apply for CC or anything your score goes down.
Established Contributor
Revike
Posts: 720
Registered: ‎05-04-2007
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Re: WAMU


credit4me wrote:
The WAMU score is a Bankcard enhanced FICO score a.k.a FAKO :smileyhappy:




A FAKO is a non-FICO score such as Vantage, Plus, TransRisk, etc. The score that WaMu customers can view online is the Bankcard Industry Option FICO score - it is not a FAKO.

There are actually a large number of scoring models that FICO has developed. There are 3 different current classic FICO scores - one for each CRA - these are the scores you can purchase from MyFico and are more closely aligned with mortgage qualification and general credit risk. There are also customized FICO scores for personal finance loans, bank installment loans, auto loans, and bankcard accounts. The bankcard-enhanced score is actually MORE useful than the classic score when trying to judge whether you will be approved when you apply for a credit card.
Established Member
adrevolution
Posts: 24
Registered: ‎07-13-2007
0

Re: WAMU

[ Edited ]

Revike wrote:

credit4me wrote:
The WAMU score is a Bankcard enhanced FICO score a.k.a FAKO :smileyhappy:

A FAKO is a non-FICO score such as Vantage, Plus, TransRisk, etc. The score that WaMu customers can view online is the Bankcard Industry Option FICO score - it is not a FAKO. There are actually a large number of scoring models that FICO has developed. There are 3 different current classic FICO scores - one for each CRA - these are the scores you can purchase from MyFico and are more closely aligned with mortgage qualification and general credit risk. There are also customized FICO scores for personal finance loans, bank installment loans, auto loans, and bankcard accounts. The bankcard-enhanced score is actually MORE useful than the classic score when trying to judge whether you will be approved when you apply for a credit card.

Thank you.  That's very helpful.



Message Edited by adrevolution on 08-03-2007 09:05 AM

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