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Regular Contributor
Posts: 118
Registered: ‎07-22-2012
0

Walmart Scoring Model

I've brought my score into the low 600s. I apped for the Walmart card and got the 7-10 day notice. Today I get an email saying it was declined and that my TU score was 414!

What gives??? I thought the TU FICO score here was the real deal?
February 2012: 480 across the board (before I found this site and started working on my scores)
-------------------------------------------------------------------------------
Starting Scores: TU FAKO: 543 (06/16/2012) EX FAKO: 547 (06/16/2012) EQ FAKO: 528 (06/16/2012)
Current Scores:TU FICO: 639 (11/20/2012) EQ FICO: 617 (11/20/2012)
TU FAKO: 606 (8/30/2012) EX FAKO: 574 (09/04/2012) EQ FAKO: 564 (09/30/2012)
Frequent Contributor
Posts: 260
Registered: ‎08-29-2011
0

Re: Walmart Scoring Model

[ Edited ]

myfico uses an older version of TU Fico that almost no one uses anymore (TU04), everyone uses TU08 now.


Starting Score Myfico EQ: 676 08/11/2011
Current Score: Amazon EQ Pull: 781 Walmart TU08: 782 AMEX EX Pull: 745 08/03/2014 Goal Score: 780+
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NPSL$1,000$18,000$9,500$5,000$5,000$5,500$8,000$5,300$9,000$5,500$4,200$1,900$4,000$1,600
Regular Contributor
Posts: 118
Registered: ‎07-22-2012
0

Re: Walmart Scoring Model

With that knowledge - the myfico score is basically useless and I will cancel.

 

What a bunch of bullsh*t.

February 2012: 480 across the board (before I found this site and started working on my scores)
-------------------------------------------------------------------------------
Starting Scores: TU FAKO: 543 (06/16/2012) EX FAKO: 547 (06/16/2012) EQ FAKO: 528 (06/16/2012)
Current Scores:TU FICO: 639 (11/20/2012) EQ FICO: 617 (11/20/2012)
TU FAKO: 606 (8/30/2012) EX FAKO: 574 (09/04/2012) EQ FAKO: 564 (09/30/2012)
Super Contributor
Posts: 7,530
Registered: ‎12-11-2011
0

Re: Walmart Scoring Model

Also, the score they give you in your letter is not a fico score. GECRB uses their own scoring model.


Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Walmart Scoring Model


xiownthisplacex wrote:

myfico uses an older version of TU Fico that almost no one uses anymore (TU04), everyone uses TU08 now.


myfico sells TU98, not TU04.  FICO 04 is the most widely used Fico scoring model.  Some use FICO 8.  Few still use FICO 04.  Also, EQ Fico score sold by myfico is FICO04.  So basically right on your basic facts but just wrong on the various numbers Smiley Happy

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Established Contributor
Posts: 945
Registered: ‎06-12-2012
0

Re: Walmart Scoring Model

inb4 sh*tstorm

AMEX SPG $20K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $10k | | NASA Platinum-Advantage $10k | CapOne Quicksilver $10k | Amazon Card $10k | NASA PLOC $30k @ 8.25% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Walmart Scoring Model


xthatgamerguyx wrote:
I've brought my score into the low 600s. I apped for the Walmart card and got the 7-10 day notice. Today I get an email saying it was declined and that my TU score was 414!

What gives??? I thought the TU FICO score here was the real deal?

I highly doubt this is a FICO score.  Can you give us the exact language off of denial letter?  What would be even more helpful would be the range of scores from that letter.

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Super Contributor
Posts: 7,530
Registered: ‎12-11-2011
0

Re: Walmart Scoring Model

GE scores range from like 300-620 i think. They pull your reports and use their own proprietary scoring model.


Regular Contributor
Posts: 118
Registered: ‎07-22-2012
0

Re: Walmart Scoring Model


Our decision was based in part on a credit scoring system that was used to evaluate your application. The reason's where you did not score well compared with the other applicants have been determined and are listed below:
  
 TOO MANY INQUIRIES LAST 12 MONTHS 
NUMBER OF MONTHS SINCE CREDIT ACCOUNT IN COLLECTIONS IS TOO LOW 
TOO FEW ACCOUNTS CURRENTLY PAID AS AGREED 
ACCOUNTS IN COLLECTION OR 60 DAYS PAST DUE OR ADVERSE PUBLIC RECORDS
  
 If more than one agency is disclosed below and if box above is completed,the reason(s) shown in that box are based on the report provided by the first listed agency.

 

 
  
Some information used to make this decision was obtained from the consumer reporting agency (agencies) listed below. This consumer reporting agency (agencies) did not make this credit decision and is unable to provide you with the specific reason(s) for our action. If you want a copy of your credit report, or if you think that there is an error in your credit report, please contact the consumer reporting agency.
 T.U. CONSUMER RELATIONS
2 BALDWIN PLACE, PO BOX 1000
CHESTER, PA 19022
800-888-4213
February 2012: 480 across the board (before I found this site and started working on my scores)
-------------------------------------------------------------------------------
Starting Scores: TU FAKO: 543 (06/16/2012) EX FAKO: 547 (06/16/2012) EQ FAKO: 528 (06/16/2012)
Current Scores:TU FICO: 639 (11/20/2012) EQ FICO: 617 (11/20/2012)
TU FAKO: 606 (8/30/2012) EX FAKO: 574 (09/04/2012) EQ FAKO: 564 (09/30/2012)
Regular Contributor
Posts: 118
Registered: ‎07-22-2012
0

Re: Walmart Scoring Model

[ Edited ]

I have one unpaid collection for student loans, the rest have been PFD. 6 months perfect history on an auto loan, 2 secured cards.

 

I have no public records. Never had a credit account in collections.

 

I only have 4 positive trade lines - auto loan, WF secured card, Cap1 secured card, Sears Citi. Other than that I have no recent credit.

 

And it appears to be the GE scoring model.

 

Apparently I can't win.

February 2012: 480 across the board (before I found this site and started working on my scores)
-------------------------------------------------------------------------------
Starting Scores: TU FAKO: 543 (06/16/2012) EX FAKO: 547 (06/16/2012) EQ FAKO: 528 (06/16/2012)
Current Scores:TU FICO: 639 (11/20/2012) EQ FICO: 617 (11/20/2012)
TU FAKO: 606 (8/30/2012) EX FAKO: 574 (09/04/2012) EQ FAKO: 564 (09/30/2012)

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