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Can someone help me understand high credit scores & NOT getting approval?

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Anonymous
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Can someone help me understand high credit scores & NOT getting approval?

I came here, like many, to look for advice on how to improve my credit score. I know what to do and I'm slowly, but surely working on it. :-) However, I was just fooling around on whogavemecredit.com and typed in some higher credit scores to see what score you have to have to basically not get a rejection. It doesn't look like it exists? Even scores in the upper 800's have declinations for credit. Can someone tell me why that is? Would it be like high use of credit, lates or...? I guess the reason I wonder is because it doesn't seem like their credit score could be that high to begin with if they had baddies on them.

 

Thanks for any input! :-) Still trying to soak it all in. :-)

 

 

 

Message 1 of 3
2 REPLIES 2
veracious
Established Contributor

Re: Can someone help me understand high credit scores & NOT getting approval?

Hi, ASHER78.

 

Not entirely sure, but I don't think you can have credit declining negative marks  when carrying an 800+ score.

 

 

I believe you enter  your scores and comments on that site.

 

Practical jokers, maybe?

_________________________________________________
"You may never know what results come of your actions,
but if you do nothing, there will be no result" ~ Mahatma Gandhi
Message 2 of 3
llecs
Moderator Emeritus

Re: Can someone help me understand high credit scores & NOT getting approval?


@Anonymous wrote:

I came here, like many, to look for advice on how to improve my credit score. I know what to do and I'm slowly, but surely working on it. :-) However, I was just fooling around on whogavemecredit.com and typed in some higher credit scores to see what score you have to have to basically not get a rejection. It doesn't look like it exists? Even scores in the upper 800's have declinations for credit. Can someone tell me why that is? Would it be like high use of credit, lates or...? I guess the reason I wonder is because it doesn't seem like their credit score could be that high to begin with if they had baddies on them.

 

Thanks for any input! :-) Still trying to soak it all in. :-)


TO add, some on WGMC are probably fudging what they think their FICO score might be. For example, you can't have an "upper 800" because FICO only goes to 850. However, I've seen some scores posted that were higher than that as you mentioned. Some might be looking at a FAKO like a Vantage which scales to 990, where an 800 is only an OK score.

 

Assuming for a second a FICO score is in the 800s, maybe there's something more that we don't know about. Maybe their income is too low. Maybe their DTI, which isn't a part of FICO scoring, is too high. Maybe their income couldn't be verified by the lender to be or maybe they had a negative history with that lender long ago in the past. Some CCCs hold grudges. Or maybe the three CRAs weren't used. Maybe they were denied for a CC after having bad info on Chexsystems which was used to join a given bank or CU. Taking it back a notch, if your scores are at 700, for example, there are scenarios where you can have a score like that but have a recent collection or baddie added. Maybe you were at 800 and lost 100 pts due to a baddie. Some would consider a 700 to be good, but not with a recent baddie.

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