topic Re: Anyone know what FICO version Synchrony pulls specifically Care Credit in Credit Card Applications

Anyone know what FICO version Synchrony pulls specifically Care Credit

Iusedtolurk — Fri, 03 Jan 2020 10:36:07 GMT

I was wondering through experience if anyone knows what FICO version Synchrony pulls (specifically Care Credit).

Also does Synchrony pull the same for all of their hundreds of accounts or does it vary with the particular brand.

I know they generally pull from Transunion for Care Credit just don't know what version.

Also add any other idiosycrasies they may have such as inquiry sensitive, minimum score, new accounts, utilization, etc.

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Anonymous — Fri, 03 Jan 2020 11:18:23 GMT

Here's a good thread to reference.

https://ficoforums.myfico.com/t5/Credit-Cards/Care-Credit-approval/m-p/5148827

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Anonymous — Fri, 03 Jan 2020 12:19:18 GMT

Lately Synchrony has been using VantageScore 4.0 for many of their products. I don't know specifically if CareCredit is one of them, but I know for sure that my Lowe's card and some others are using VS4.0 exclusively for all lending decisions.

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Iusedtolurk — Fri, 03 Jan 2020 13:30:04 GMT

@Anonymous wrote:
Lately Synchrony has been using VantageScore 4.0 for many of their products. I don't know specifically if CareCredit is one of them, but I know for sure that my Lowe's card and some others are using VS4.0 exclusively for all lending decisions.

Thanks all for the responses I had previously seen above referenced thread (provided by ClassicMan )but re-read it as I noted approved scores which was more informational the second time around.

Very interesting that Sync is leading towards utilizing VS4.0 presently. I can see that there could be major differences between Fico score and VS4.0 score due to weighted differences.

For example those who carry a balance and pay on time vs those who don't carry a balance and pay on time( due to the trended data variable) the credit score would be lower for the former.

Sync by doing this is kinda negating the blanket statement "Stop paying attention to Fako scores" that inundates the forum as they back a large amount of credit cards.

I always check Fico and Vantage scores(3.0) but now have to wait and see who will be providing this new VS4.0 to stay on top of my info in case I apply for a Sync card in the future.

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

gdale6 — Fri, 03 Jan 2020 14:36:56 GMT

@Iusedtolurk wrote:
@Anonymous wrote:
Lately Synchrony has been using VantageScore 4.0 for many of their products. I don't know specifically if CareCredit is one of them, but I know for sure that my Lowe's card and some others are using VS4.0 exclusively for all lending decisions.
Thanks all for the responses I had previously seen above referenced thread (provided by ClassicMan )but re-read it as I noted approved scores which was more informational the second time around.

Very interesting that Sync is leading towards utilizing VS4.0 presently. I can see that there could be major differences between Fico score and VS4.0 score due to weighted differences.

I just signed up for my VS4.0 free on my Lowes account, the score is 802, within 3 points of my Fico8 basic and the reasons given for not an 850 are the same that Fico gives me... I wonder.....

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Remedios — Fri, 03 Jan 2020 15:19:19 GMT

It's probably because VS4.0 uses trended data, utilization and balances are viewed differently
The only problem with that is that all lenders don't provide it, so it's incomplete picture

If you look at free annual credit report, you can see which lenders provide monthly payment amounts and which ones dont.

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Meanmchine — Sat, 04 Jan 2020 00:38:52 GMT

As a spoiler, Synchrony also pulls EX from time to time

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Anonymous — Sat, 04 Jan 2020 02:44:07 GMT

@Meanmchine wrote:
As a spoiler, Synchrony also pulls EX from time to time

Indeed. That was my CareCredit app.

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

Anonymous — Sat, 04 Jan 2020 05:16:50 GMT

@Anonymous wrote:
@Meanmchine wrote:
As a spoiler, Synchrony also pulls EX from time to time
Indeed. That was my CareCredit app.

They also pulled EX when I applied in 2017. That was a shock.

Re: Anyone know what FICO version Synchrony pulls specifically Care Credit

mikesonthemend — Sat, 04 Jan 2020 05:26:12 GMT

@Anonymous wrote:

I stopped watching SNL, but made an effort to watch Eddie Murphy. I thought you were awesome! Just awesome.