@805orbust wrote:OK this proves my point perfectly. All scores are FAKO. Unless you KNOW exactly what someone is pulling and when, it's all a crapshoot. You're scores are excellent dude. Only responsible debt management can get you there. And why use the Auto2 model for a credit card? Because it more accurately predicts your behavior? Nope, because they can charge more interest. To a dude with excellent credit. This stuff really ticks me off.
Well, they likely use one model for all credit applications because in that way, they are able to analyze how an applicant fits in the bell curve of profiles with that one FICO score. Jumping from Auto to Credit Card to Mortgage and using different scores for each costs money and can lead to mistakes in underwriting.
If this is an older FICO model, there are probably banks who want to Keep It Simple and just keep rolling with the same model, rather than try to update their procedures for a new bell curve set of profiles.
And, while i understand OP's disappointment at not getting the new card, honestly, there's quite a lot of cards in the wallet already 
I suspect maybe the scoring model that was used was not the only factor leading to a denial.
In some of these cases, it's good to talk with a person at the CU. Opening a checking account and showing some activity can let the CU see your habits better, and then the CC becomes easier to get later. That's what I did with PenFed, through a secured card, and was doing with GoldenOne, although I have not decided to move beyond the checking to app for a GoldenOne card.
@SouthJamaica wrote:
@805orbust wrote:OK this proves my point perfectly. All scores are FAKO. Unless you KNOW exactly what someone is pulling and when, it's all a crapshoot. You're scores are excellent dude. Only responsible debt management can get you there. And why use the Auto2 model for a credit card? Because it more accurately predicts your behavior? Nope, because they can charge more interest. To a dude with excellent credit. This stuff really ticks me off.
Well I don't know if this is meaningful or not, but they didn't give the score as the reason for the denial. The reason they gave was excessive inquiries. And on that count I'm 'guilty as charged'
The older Fico models punish more heavily for new account inquiries and # cards reporting balances. Your Auto Ex score 2 is still above average but may have prompted a "deeper manual review" which led to denial due to inquiries.
As an FYI shown below is a percentile score breakdown for the EX Fico models. Were your Classic EX score 3 and EX score 2 scores depressed as well?
| Fico Model Name | Model type | 5% | 10% | 20% | 30% | 40% | 50% | 60% | 70% | 80% | 90% | 95% |
| Auto EX score 8 | Fico 08 | 498 | 534 | 595 | 642 | 682 | 714 | 742 | 772 | 801 | 831 | 851 |
| Auto EX score 2 | Fico 98 | 510 | 542 | 591 | 638 | 679 | 713 | 748 | 777 | 799 | 818 | 833 |
| Classic EX score 8 | Fico 08 | 498 | 532 | 589 | 640 | 683 | 716 | 744 | 773 | 797 | 818 | 830 |
| Classic EX score 3 | Fico 04 | 521 | 554 | 606 | 651 | 687 | 718 | 751 | 780 | 799 | 816 | 822 |
| Classic EX score 2 | Fico 98 | 521 | 551 | 599 | 645 | 684 | 721 | 756 | 783 | 802 | 819 | 828 |
@805orbust wrote:OK this proves my point perfectly. All scores are FAKO. Unless you KNOW exactly what someone is pulling and when, it's all a crapshoot. You're scores are excellent dude. Only responsible debt management can get you there. And why use the Auto2 model for a credit card? Because it more accurately predicts your behavior? Nope, because they can charge more interest. To a dude with excellent credit. This stuff really ticks me off.
I've long since stated that the only score that matters is the one that the lender pulls so I agree with that part, but the pink highlight assumes credit decisionining in a vacuum.
It is a competitive free market, and scores as a result don't determine rate uniquely. If their rates are artificially high as a result of some awkward score they're using because they don't understand it then their potential customers will be using other lenders' products; frankly, I doubt any CU no matter how bad is that dumb.
Every lender has internal data on how well their portfolio performance tracks, really whatever score they use is irrelevant as long as you meet the minimum UW requirements for the product you're applying for... after that it's everything else which matters.
@Thomas_Thumb wrote:
@SouthJamaica wrote:
@805orbust wrote:OK this proves my point perfectly. All scores are FAKO. Unless you KNOW exactly what someone is pulling and when, it's all a crapshoot. You're scores are excellent dude. Only responsible debt management can get you there. And why use the Auto2 model for a credit card? Because it more accurately predicts your behavior? Nope, because they can charge more interest. To a dude with excellent credit. This stuff really ticks me off.
Well I don't know if this is meaningful or not, but they didn't give the score as the reason for the denial. The reason they gave was excessive inquiries. And on that count I'm 'guilty as charged'
The older Fico models punish more heavily for new account inquiries and # cards reporting balances. Your Auto Ex score 2 is still above average but may have prompted a "deeper manual review" which led to denial due to inquiries.
As an FYI shown below is a percentile score breakdown for the EX Fico models. Were your Classic EX score 3 and EX score 2 scores depressed as well?
Fico Model Name Model type 5% 10% 20% 30% 40% 50% 60% 70% 80% 90% 95% Auto EX score 8 Fico 08 498 534 595 642 682 714 742 772 801 831 851 Auto EX score 2 Fico 98 510 542 591 638 679 713 748 777 799 818 833 Classic EX score 8 Fico 08 498 532 589 640 683 716 744 773 797 818 830 Classic EX score 3 Fico 04 521 554 606 651 687 718 751 780 799 816 822 Classic EX score 2 Fico 98 521 551 599 645 684 721 756 783 802 819 828
Clearly that's the case. The denial wasn't based on score, it was based on the inquiries.
The only reason I mentioned the score was it seemed likely that it was my FICO Auto 2 score, and I was suprised they would be pulling that for non-auto loan applications.
Question, how does an algorithm punish one for excessive inquiries other than a lower score?
Ok nevermind, I get it. # of INQ's is separate piece of data from score when a report is pulled so they *may* have flagged it no matter the bureau... Ok this makes sense. My apologies, sometimes you've gotta give me a few minutes, and frankly, I'm a *bit* more paranoid and non-trusting of these entities than most. 
...because we're obviously in the Matrix and they're all out to get us naturally
@Anonymous wrote:
@Anonymous wrote:Baxter CU told me they use FICO auto 2 for all their credit decisions. I asked one of the underwriters why, and he didn't know-it's just what they do.
In the interest of providing accurate data on here, I happened upon my notes from Baxter last night, and it's FICO auto 8 that I was told they used.
I'm impressed. You actually take notes 