Reply
Regular Contributor
xthatgamerguyx
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
xiownthisplacex
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+
Hover over image to see limits

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
xthatgamerguyx
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)
Senior Contributor
jsucool76
Posts: 3,637
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
Crashem
Posts: 3,098
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 :smileyhappy:

               LIMITS IN CARD DESCRIPTIONS
Established Contributor
Jlu
Posts: 886
Registered: ‎06-12-2012
0

Re: Walmart Scoring Model

inb4 sh*tstorm

JP Morgan Select $10k | CSP $10k | Citi TY Premier $15k | BofA 3-2-1 $15k | Chase Freedom $10k | Discover IT $10k | Barclaycard $15k | AMEX SPG $5k | AMEX PRG NPSL | NASA Platinum-Advantage $10k | CapOne Quicksilver $3k | Walmart Card $5k | Amazon Card $10k | Chase Auto 1.49% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
Valued Contributor
Crashem
Posts: 3,098
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.

               LIMITS IN CARD DESCRIPTIONS
Senior Contributor
jsucool76
Posts: 3,637
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
xthatgamerguyx
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
xthatgamerguyx
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)

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}