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HiLine
Posts: 2,836
Registered: ‎10-19-2012

What exactly is enhanced in a credit card - enhanced FICO score?

The Equifax scores credit card lenders give me have been consistently higher than my Equifax ScoreWatch (Beacon 5.0) scores. I'd love to be able to predict my credit card - enhanced score for future applications. Any input would be appreciated. 

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guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: What exactly is enhanced in a credit card - enhanced FICO score?

When it is an enhanced score, auto or bankcard, those types of accounts are weighted more heavily than they normally would be with a regular score.  How they do that I don't think anyone can tell you.  And as usual, your entire credit profile is dependent on the outcome.

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HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: What exactly is enhanced in a credit card - enhanced FICO score?

[ Edited ]

So if you don't have an auto loan but do have credit cards and mortgages, how would your auto-enhanced score differ from the base score? 

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guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: What exactly is enhanced in a credit card - enhanced FICO score?

They would probably score you lower for never having had an auto loan.  Same with a CC enhanced score.

 

A rejection reason could be insufficient auto trade experience.  Of course, again, YMMV.

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thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: What exactly is enhanced in a credit card - enhanced FICO score?


guiness56 wrote:

When it is an enhanced score, auto or bankcard, those types of accounts are weighted more heavily than they normally would be with a regular score.  How they do that I don't think anyone can tell you.  And as usual, your entire credit profile is dependent on the outcome.


OR.....rather than "enhanced", it could simply be the difference between the Beacon 5.0 here and the Beacon 9.0 that lender may have pulled.

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
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guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: What exactly is enhanced in a credit card - enhanced FICO score?


thom02099 wrote:

guiness56 wrote:

When it is an enhanced score, auto or bankcard, those types of accounts are weighted more heavily than they normally would be with a regular score.  How they do that I don't think anyone can tell you.  And as usual, your entire credit profile is dependent on the outcome.


OR.....rather than "enhanced", it could simply be the difference between the Beacon 5.0 here and the Beacon 9.0 that lender may have pulled.


True.  But the question was specifically about enhanced scores, not the differences between Beacon 5 and 9.


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