Who uses FICO08

[Subexistence]

I came to the conclusion that despite having high FICO08 scores, if a lender's internal system doesn't score you highly, you can get rejected. It happened to me despite 751 credit score which was ahcieved through FICO tricks like SSL. Therefore it's important to know which lenders uses FICO08 if one plans on relying on FICO score tricks to boost scores. If a lender doesn't use FICO08, it is best to try to guess what your scores would be without FICO tricks then decide whether or not to apply.

[HeavenOhio]

AMEX uses FICO8 EX and Barclays uses FICO8 TU.

But that doesn't stop lenders from considering factors beyond the applicant's score and income. We've seen here that new accounts, number of inquiries, and length of history factor in.

The score — whatever the score is — is just part of a bigger picture.

[Anonymous]

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@Subexistence wrote:

I came to the conclusion that despite having high FICO08 scores, if a lender's internal system doesn't score you highly, you can get rejected. It happened to me despite 751 credit score which was ahcieved through FICO tricks like SSL. Therefore it's important to know which lenders uses FICO08 if one plans on relying on FICO score tricks to boost scores. If a lender doesn't use FICO08, it is best to try to guess what your scores would be without FICO tricks then decide whether or not to apply.

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Score is never greater than profile.  Different lenders look at different things.  If you have something surrounding your profile that goes against one of their "rules" it doesn't matter if your score is 830-850, you'll get denied.  Case in point, the Chase 5/24 rule.

[Anonymous]

Barclays and Synchrony denied me with a 717 TU Fico08 score. Too many new accounts and inquiries 😢 And I have a good income too!! ( someday, one day, I will be able to upgrade from Credit One) 😃

[Subexistence]

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@Anonymous wrote:
Barclays and Synchrony denied me with a 717 TU Fico08 score. Too many new accounts and inquiries 😢 And I have a good income too!! ( someday, one day, I will be able to upgrade from Credit One) 😃

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I believe you can try recon if you haven't done so already.

[Subexistence]

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@HeavenOhio wrote:

AMEX uses FICO8 EX and Barclays uses FICO8 TU.

But that doesn't stop lenders from considering factors beyond the applicant's score and income. We've seen here that new accounts, number of inquiries, and length of history factor in.

The score — whatever the score is — is just part of a bigger picture.

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makes sense. I got approved for both Barclays and Amex.

[Anonymous]

Recon was a no-go!! Told me try in a few months when the new accounts show age.

[AverageJoesCredit]

A thin file 751 isnt the same as a thick profile 751. You could have a 800 fico score but if you only have like 6 or 7 months, they will see that as good as your score is, you dont have enough established history to proove you can handle credit. So many factors involved in this crazy credit world