Which one is right?

Anonymous · ‎03-08-2016

So I applied for a amex card and a capital one card 5 mins apart not enough time for them to put a hard inquiry on me and got denied by both. They both had Experian run my credit but when i got the rejection letters Amex said i had a 654 and Capital one said I had a 607. How does that work? Thanks

Revelate · ‎03-08-2016

@Anonymous wrote:
So I applied for a amex card and a capital one card 5 mins apart not enough time for them to put a hard inquiry on me and got denied by both. They both had Experian run my credit but when i got the rejection letters Amex said i had a 654 and Capital one said I had a 607. How does that work? Thanks

Different versions of the FICO algorithm. Amex has been on FICO 8 for a while though they may have switched in the past call it 6 months, Capital One I think is using an older version, FICO 04 or even 98.

Best way to tell, with the score disclosure it sometimes includes the range for the FICO algorithm used, that can often be used to identify the particular score since not all of them are measured on the traditional 300-850 scale. Also double-check that it says FICO on both, Cap 1 I think may be using Vantage for some pulls or perhaps an internal score.

Sadly, both are "right" for that particular lender... the number of different scoring models out there is decidedly consumer unfriendly.

takeshi74 · ‎03-09-2016

@Anonymous wrote:
Which one is right?

Both.

You can't assume that one score is "right". There isn't just one scoring model used by all creditors. FICO models are not the only models used but they are the most commonly used. Even with FICO there are a number of different models used by creditors/products. See also the Understanding FICO Scoring subforum and its stickies.

Different models evalaute report data differently and can even have different score ranges, leading to different numbers being generated. You cannot assume that all models should produce the same numbers. You cannot use a score generated by one model to determine a score generated by another model.

This is a very common topic so don't overlook prior discussions and the stickies (they also cover this) as a resource. Always consider the specific scoring model when referring to credit scores. Also consider the relevance of a model & CRA combo to a given creditor/product. As you can see, AmEx and CO didn't use the same score in their decisions. Using your case as an example, if you want to know what AmEx will pull for you then you need to pull that specific score. If you want to know what CO will pull for you then you need to pull that specific score.

@Anonymous wrote:
So I applied for a amex card and a capital one card 5 mins apart not enough time for them to put a hard inquiry on me

Creditors don't put a hard inquiry on your report. Creditors pull your report when you apply. Pulling the report is the inquiry and it is noted by the CRA when the inquiry takes place. Do not assume that there is a lag.