topic Re: Chase Credit Scoring System in Credit Card Applications

Chase Credit Scoring System

AJ67 — Sat, 03 Feb 2024 18:01:09 GMT

I applied for CFU and was approved. I know they pulled EXP. My question is about what Chase uses as a credit score. My EXP FICO score was 770 at the time of the application. Chase sent me some docs with my new card. In the docs they listed that my score was 757 based on Chase Credit Scoring system. So they don't directly use the score reflected on EXP...do they apply their own formula? Has anyone received a notification like that?

Re: Chase Credit Scoring System

youngandcreditwrthy — Sat, 03 Feb 2024 18:18:31 GMT

@AJ67 sometimes they will use the score including the points that were knocked off from their own hard inquiry.

have you checked your score since their inquiry?

Re: Chase Credit Scoring System

AJ67 — Sat, 03 Feb 2024 19:17:14 GMT

They pulled my credit score from EXP few minutes after I checked my score on EXP. It was 770...then few minutes later I submitted my one and only application ...they pulled EXP! They called it "Chase Credit Scoring". They didn't even mention that they pulled EXP, I know they did.

Re: Chase Credit Scoring System

Brian_Earl_Spilner — Sat, 03 Feb 2024 19:32:16 GMT

Weird that they called it that since it's called CARS v2, Credit Acquisition Risk Score version 2. Maybe they changed the name. Anyhoo, yes they have their own formula which I named above. If you call to recon, they'll pull your credit again.

ETA: CARS filters out things like authorized user accounts. In case you were wondering why they don't just use fico.

Re: Chase Credit Scoring System

citymunky — Sat, 03 Feb 2024 19:41:53 GMT

Could be your FICO Bankcard score.

Re: Chase Credit Scoring System

AJ67 — Sat, 03 Feb 2024 21:43:58 GMT

@Brian_Earl_Spilner wrote:
Weird that they called it that since it's called CARS v2, Credit Acquisition Risk Score version 2. Maybe they changed the name. Anyhoo, yes they have their own formula which I named above. If you call to recon, they'll pull your credit again.

ETA: CARS filters out things like authorized user accounts. In case you were wondering why they don't just use fico.

When I applied I got an instant denial...I immediately called for reconsideration. I told the agent that the hard inquiry was pulled few minutes ago..I just wanted a reconsideration without another hard pull. He approved my application and they didn't do another hard inquiry.

Re: Chase Credit Scoring System

AJ67 — Sat, 03 Feb 2024 21:49:03 GMT

@citymunky wrote:
Could be your FICO Bankcard score.

My FICO Bankcard score was even higher...it was 774

In addition, they referred to it as Chase Credit Scoring system.

Re: Chase Credit Scoring System

elboullee — Sun, 04 Feb 2024 00:16:20 GMT

@AJ67 wrote:
...based on Chase Credit Scoring system. So they don't directly use the score reflected on EXP...do they apply their own formula? Has anyone received a notification like that?

I always understood Chase's "in-house" scoring to be just that - their own propriatary forumla.

FWIW, my Chase approvals [no DPs for denials, haven't had one] have always correlated not to FICO 8/9 but to the Exp Vantage 3.0 score that they show in "My Credit Journey".

Re: Chase Credit Scoring System

Brian_Earl_Spilner — Sun, 04 Feb 2024 05:51:24 GMT

@AJ67 wrote:
@Brian_Earl_Spilner wrote:
Weird that they called it that since it's called CARS v2, Credit Acquisition Risk Score version 2. Maybe they changed the name. Anyhoo, yes they have their own formula which I named above. If you call to recon, they'll pull your credit again.

ETA: CARS filters out things like authorized user accounts. In case you were wondering why they don't just use fico.
When I applied I got an instant denial...I immediately called for reconsideration. I told the agent that the hard inquiry was pulled few minutes ago..I just wanted a reconsideration without another hard pull. He approved my application and they didn't do another hard inquiry.

Congrats, that's not very common. Chase is a big believer in making sure everyone knows you're requesting credit.

Re: Chase Credit Scoring System

Brian_Earl_Spilner — Sun, 04 Feb 2024 05:52:53 GMT

@elboullee wrote:
@AJ67 wrote:
...based on Chase Credit Scoring system. So they don't directly use the score reflected on EXP...do they apply their own formula? Has anyone received a notification like that?
I always understood Chase's "in-house" scoring to be just that - their own propriatary forumla.

FWIW, my Chase approvals [no DPs for denials, haven't had one] have always correlated not to FICO 8/9 but to the Exp Vantage 3.0 score that they show in "My Credit Journey".

Chase pulls vantage also. I was denied for a southwest card using vantage. People don't believe it though.

Re: Chase Credit Scoring System

AJ67 — Sun, 04 Feb 2024 19:30:10 GMT

@Brian_Earl_Spilner wrote:
Congrats, that's not very common. Chase is a big believer in making sure everyone knows you're requesting credit.

I think that agent was particularly very nice.

Re: Chase Credit Scoring System

youngandcreditwrthy — Thu, 08 Feb 2024 17:37:11 GMT

ymmv. when I reconned with chase, i didnt get another HP either for my freedom card.