topic Re: Does Cap One use a different scoring model? in Credit Cards

Does Cap One use a different scoring model?

hardworkrebuilding — Sun, 31 Jul 2016 14:51:29 GMT

I ask this because my wife recently responded to a Cap One Quicksilver offer. She was approved for 15,000 CL with a 18.24% APR (a little higher compared to her other accounts. The letter explaining her score when her credit was pulled showed a FICO score of 701 from Experian (range of 325 - 850).

I thought this was odd because her Experian FICO 8 score from both Chase and Amex showed a 753 a little over a week before. We have had no notice of anything that would negatively affect her score. (And there is no lates, derogatory, or other items expected; everything is paid on time every time.)

Anyhow, a Experian FICO score 50 points lower just days later doesn't maker sense. It must be a modified scoring model.

Any thoughts, experience, etc. are welcome.

Re: Does Cap One use a different scoring model?

Anonymous — Sun, 31 Jul 2016 17:51:44 GMT

I believe they use - Fico 5 mortgage enhanced score, Fico 4, and Fico 3 for their top tier cards.

Re: Does Cap One use a different scoring model?

Pway — Sun, 31 Jul 2016 17:56:01 GMT

Yes Capital One has internal scoring that they use as well.

Re: Does Cap One use a different scoring model?

iv — Tue, 02 Aug 2016 03:06:42 GMT

@hardworkrebuilding wrote:
I ask this because my wife recently responded to a Cap One Quicksilver offer. She was approved for 15,000 CL with a 18.24% APR (a little higher compared to her other accounts. The letter explaining her score when her credit was pulled showed a FICO score of 701 from Experian (range of 325 - 850).

I thought this was odd because her Experian FICO 8 score from both Chase and Amex showed a 753 a little over a week before. We have had no notice of anything that would negatively affect her score. (And there is no lates, derogatory, or other items expected; everything is paid on time every time.)

Anyhow, a Experian FICO score 50 points lower just days later doesn't maker sense. It must be a modified scoring model.

Any thoughts, experience, etc. are welcome.

The 325-850 range IDs that score as Experian FICO Classic V3.

While that is one of the "less commonly used scores" available here in the 3B report, I don't think it's generally available to end-users anywhere else (except in new account approval/denial letters, anyway).

Re: Does Cap One use a different scoring model?

hardworkrebuilding — Tue, 02 Aug 2016 13:33:43 GMT

Thanks for the replies. I am surprised by the drasticly different score presented from FICO V3, but at least I understand better.

Re: Does Cap One use a different scoring model?

Anonymous — Thu, 04 Aug 2016 02:18:52 GMT

Also worth noting that the free scores offered by issuers is a generic score and the actual model that they use internally will almost always generate a different score than what they're showing you.