topic Re: Wife applied for a Chase CC, shows score on denial letter in Credit Card Applications

Wife applied for a Chase CC, shows score on denial letter

lctachell — Sat, 10 Jan 2015 06:14:20 GMT

Wife applied for a Chase CC with out me knowing and was denied. Wish should would of told me before applying to CHASE ( hardest Card/company to get without a prestine CR)

The letter shows her score from EQ at 679 and her brand new Myfica account as of 20 minutes ago show 692. Are EQ number true or myficas? CC pull was done on 12/28/14, can the score jump up 13 points in 12 days?

Larry

Re: Wife applied for a Chase CC, shows score on denial letter

Kenny — Sat, 10 Jan 2015 06:40:02 GMT

Yes, scores can change that much within 1 day. It's not usual, but it happens. The number on the Chase denial is most likely a true myFICO score from Equifax. (If it says the max is 850 then yes it's definitely a FICO score. I'm pretty sure that Chase uses a FICO score for denials.)

Also, your wife can still recon the denial with Chase. We have the backdoor number in a sticky at the top of the application forum. So don't give up! Good luck!

Re: Wife applied for a Chase CC, shows score on denial letter

lctachell — Sat, 10 Jan 2015 08:16:09 GMT

It stats right below her score

" Scores calculated using this source can range from a low of 250 to a high of 900(higher scores are better)

Re: Wife applied for a Chase CC, shows score on denial letter

elim — Sat, 10 Jan 2015 08:40:54 GMT

Lenders can have their own risk models based on FICO scoring.

What were the reasons for Denial and what card was the app for?

Recon Recon Recon

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sat, 10 Jan 2015 13:50:49 GMT

@lctachell wrote:
Wife applied for a Chase CC with out me knowing and was denied. Wish should would of told me before applying to CHASE ( hardest Card/company to get without a prestine CR)
The letter shows her score from EQ at 679 and her brand new Myfica account as of 20 minutes ago show 692. Are EQ number true or myficas? CC pull was done on 12/28/14, can the score jump up 13 points in 12 days?

Larry

Sounds like a CARS score. Have you pulled her reports to see who they pulled?

When they pulled my EX for the Freedom, My EX FICO was ~680, but they came back with a CARS score of 649.

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sat, 10 Jan 2015 17:09:26 GMT

@lctachell wrote:
Wife applied for a Chase CC with out me knowing and was denied. Wish should would of told me before applying to CHASE ( hardest Card/company to get without a prestine CR)
The letter shows her score from EQ at 679 and her brand new Myfica account as of 20 minutes ago show 692. Are EQ number true or myficas? CC pull was done on 12/28/14, can the score jump up 13 points in 12 days?

Larry

Try the back door numbers, if you guys can explain/give valid reasons regarding your credit score and report (mainly they will ask about your report and history) the underwritting dpt can over write and approve it. Hope this help and good luck.

Re: Wife applied for a Chase CC, shows score on denial letter

lctachell — Sat, 10 Jan 2015 17:12:06 GMT

Amazon Visa Platinum

5 reasons, all of them true

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sat, 10 Jan 2015 17:13:23 GMT

When I was declined by Chase they did, indeed, pull Equifax. But they did not provide an Equifax Fico score. Instead they used their own internal scoring system called Card Acquisition Risk Score, and came up with a number of 666. Lower than any of my Fico scores.

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sat, 10 Jan 2015 17:57:11 GMT

@Anonymous wrote:
When I was declined by Chase they did, indeed, pull Equifax. But they did not provide an Equifax Fico score. Instead they used their own internal scoring system called Card Acquisition Risk Score, and came up with a number of 666. Lower than any of my Fico scores.

Interesting your CARS score being higher, came back with a denial while mine being lower was an instant approval.

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sat, 10 Jan 2015 18:12:45 GMT

@Anonymous wrote:
@Anonymous wrote:
When I was declined by Chase they did, indeed, pull Equifax. But they did not provide an Equifax Fico score. Instead they used their own internal scoring system called Card Acquisition Risk Score, and came up with a number of 666. Lower than any of my Fico scores.
Interesting your CARS score being higher, came back with a denial while mine being lower was an instant approval.

I have a big, fat tax lien in my file. Plus, my file was thinner at the time and I have a low AAoA.

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sat, 10 Jan 2015 18:51:38 GMT

When I app for two Chase cards before it's always pending because there's a 7-year extended fraud alert on my credit report because someone tried to steal my identity during my UG sophomore year.

They used Transunion and Experian FICO scores for me.

Good luck

Re: Wife applied for a Chase CC, shows score on denial letter

lctachell — Sun, 11 Jan 2015 07:53:57 GMT

Main reason,

CR reflects a bankruptcy (true)

Then Primary factors:

Derogatory public records (true)

too many accounts recently opened (true)

Proportions of loan balances to loam amounts is too high ( False)

too few accounts currently paid as agreed ( False)

Too many inquiries in the last 12 months ( true)

Re: Wife applied for a Chase CC, shows score on denial letter

Anonymous — Sun, 11 Jan 2015 20:18:59 GMT

@lctachell wrote:
Main reason,
CR reflects a bankruptcy (true)

Then Primary factors:
Derogatory public records (true)
too many accounts recently opened (true)
Proportions of loan balances to loam amounts is too high ( False)
too few accounts currently paid as agreed ( False)
Too many inquiries in the last 12 months ( true)

The too few accounts currently paid as agreed simply means too few accounts. It doesn't mean that accounts aren't being paid.