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Valued Member
Namtac
Posts: 31
Registered: ‎05-30-2007

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
dog
Posts: 560
Registered: ‎05-03-2007

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
fused
Posts: 16,253
Registered: ‎03-12-2007

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 Cards:
Amex BCP 25K ~ Amex Clear 25K ~ Amex Platinum NPSL ~ Chase Freedom Visa 19.3K ~ CITI Dividend World Mastercard 20.3K ~ FIA Fidelity Investments Platinum Plus Visa 40K ~ First Hawaiian Bank Gold Visa 10K
Valued Member
Namtac
Posts: 31
Registered: ‎05-30-2007

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
fused
Posts: 16,253
Registered: ‎03-12-2007

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 Cards:
Amex BCP 25K ~ Amex Clear 25K ~ Amex Platinum NPSL ~ Chase Freedom Visa 19.3K ~ CITI Dividend World Mastercard 20.3K ~ FIA Fidelity Investments Platinum Plus Visa 40K ~ First Hawaiian Bank Gold Visa 10K
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

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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