topic Re: What model does Cap One use?? in Credit Cards

What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 18:15:14 GMT

Does anybody know what Fico Model Capital One uses for Venture approval?

Would they use Fico 5, commonly used in mortgage lending? I received a denial letter with my score that is over 100 points lower than my "regular" fico score. I can't figure out for the life of me what score they are using. I pulled my CR and none of the scores are what Capital One lists the EQ score at -- but my Fico 5 (old score commonly used for mortgage lending) is the closest to what Capital One listed.

If that's not what they use then there is something wrong, because they have the wrong score for me. I'm not sure what to do.

Re: What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 18:16:25 GMT

@Anonymous wrote:
Does anybody know what Fico Model Capital One uses for Venture approval?

Would they use Fico 5, commonly used in mortgage lending? I received a denial letter with my score that is over 100 points lower than my "regular" fico score. I can't figure out for the life of me what score they are using. I pulled my CR and none of the scores are what Capital One lists the EQ score at -- but my Fico 5 (old score commonly used for mortgage lending) is the closest to what Capital One listed.

If that's not what they use then there is something wrong, because they have the wrong score for me. I'm not sure what to do.

Yes they are known to use the 04 model aka Fico 5 for scoring

Re: What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 18:40:55 GMT

Supermodel. FICO 4 from what I've seen.

Re: What model does Cap One use??

ddemari — Fri, 14 Aug 2015 19:13:00 GMT

Yup, we have seen capitalone using FICO 04 model, which I love them for it! 04 scores always higher than my 08 ones.

Re: What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 19:34:56 GMT

It's apparenty my lowest of all models, to the tune of 110 points lower than my fico 8 (not sure why it's soooo extreme). So I think Cap One will be out of my approval picture for awhile.

I should have checked in to that before applying, I would have never applied if I knew that's the model they used, especially with it being over 100 pts lower. Shame on me!

This is definitely something for others to consider before applying -- make sure you check ALL of your score models

Re: What model does Cap One use??

Cotton_Britches — Fri, 14 Aug 2015 19:41:06 GMT

I don't understand: why does it matter which scoring model they use?

Re: What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 19:47:10 GMT

@Cotton_Britches wrote:
I don't understand: why does it matter which scoring model they use?

Approvals.

Re: What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 20:41:37 GMT

Friggin awesome. My 4 is higher than my 8.

Scores in sig are all Fico 8's. I should list my 4's but alas, I'd have to purchase the 3b report here.

Re: What model does Cap One use??

Anonymous — Fri, 14 Aug 2015 20:59:46 GMT

Jennifer Garner

Re: What model does Cap One use??

jawbrkr — Fri, 14 Aug 2015 21:09:04 GMT

My FICO 4 score is higher but not by all that much..only 4pts. You can purchase the 3B and get the additional scores but I dont think myFICO updates those scores, if I am not mistaken. Once you purchase you would get the most current score but from that point on I dont think the additional model scores get updated. Only the FICO 8 score gets updated. Perhaps someone else can confirm that?!

Re: What model does Cap One use??

delaney1 — Fri, 14 Aug 2015 21:07:29 GMT

I think the 3 score report is now updated quarterly.

Re: What model does Cap One use??

Anonymous — Sat, 15 Aug 2015 17:01:42 GMT

@ddemari wrote:
Yup, we have seen capitalone using FICO 04 model, which I love them for it! 04 scores always higher than my 08 ones.

Wow that's good to know. My FICO 04 score are quite a bit higher across all three. 701 EQ (probably a bit higher now), 702 EX, and 664 TU (newer med CO in error will be coming off). If only I had some time on my revolvers. They are all less than six months. Maybe one of these days I'll see a Venture pre qualify.