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Valued Member
Posts: 31
Registered: ‎05-30-2007
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Facts and Fallacies?

It says that lenders consider more your FICO score.

What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!

I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....
Established Contributor
Posts: 560
Registered: ‎05-03-2007
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Re: Facts and Fallacies?

i have seen a lot of people on here ask for manual reviews of their credit apps after denial....it seems that a lot of those people also get approved after the manual review.  i would have to disagree with you.
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: Facts and Fallacies?



Namtac wrote:
It says that lenders consider more your FICO score.

What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!

I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....

What are you trying to say?
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Member
Posts: 31
Registered: ‎05-30-2007
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Re: Facts and Fallacies?


fused111 wrote:


Namtac wrote:
It says that lenders consider more your FICO score.

What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!

I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....

What are you trying to say?



What am I trying to say?

That FICO speaks in a lot of broad generalities. I suppose it's to protect their proprietary scoring methodology. The number is basically the only thing that counts any more.

If my score rises or falls, how about a specific reason?
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: Facts and Fallacies?



Namtac wrote:

fused111 wrote:


Namtac wrote:
It says that lenders consider more your FICO score.

What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!

I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....

What are you trying to say?



What am I trying to say?

That FICO speaks in a lot of broad generalities. I suppose it's to protect their proprietary scoring methodology. The number is basically the only thing that counts any more.

If my score rises or falls, how about a specific reason?

Yes FICO does but not the contributors who post here. Do you have specific questions? I would be happy to answer them if can. Otherwise there are many others here who can. 
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Facts and Fallacies?



Namtac wrote:
It says that lenders consider more your FICO score.
...
I love this site, but that statement seems disingenuous at best.


Lenders do consider more than your FICO score, and that's a fact.
 
Income, DTI, length of employment, years in your field, to name a few. If it's a bank, some will give you more consideration because you bank there and have a good history with them. I have two VISAs that I doubt I woulda gotten were it not for that I bank with one and have insurance with the other. Some lenders, AMEX and Cap 1 notably, blacklist and won't issue to you even IF you qualify.
 
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