topic Re: Sync PPMC to use Vantage 4.0 for CLI's in Credit Cards

Sync PPMC to use Vantage 4.0 for CLI's

Anonymous — Sun, 22 Sep 2019 02:56:46 GMT

Well, this kinda sucks if this rep is right. I encourage others to call to investigate.

Re: Sync PPMC to use Vantage 4.0 for CLI's

Adkins — Sun, 22 Sep 2019 04:10:15 GMT

Yeah, that's going to suck. 👎👎

Re: Sync PPMC to use Vantage 4.0 for CLI's

I_Love_Cards — Sun, 22 Sep 2019 04:32:55 GMT

I can confirm. Sync used Vantage 4 for CLI on 9/10 for Amazon, Ebates/Rakuten, PayPal MC, and Lowe’s. The score on my letters all matched the Vantage.

I’m unimpressed since my Vantage is 50-70 points lower than my Fico.

Re: Sync PPMC to use Vantage 4.0 for CLI's

CreditJourney007 — Sun, 22 Sep 2019 04:45:36 GMT

I requested a CLI last week and I got some bs answer of "not enough time to establish current credit score". What?

Re: Sync PPMC to use Vantage 4.0 for CLI's

SEAlifer — Sun, 22 Sep 2019 04:46:48 GMT

Well this makes me want to get the PayPal MC even more as my vantage scores are like 50 points higher than my FICOs. Everyone on here just says their customer service is not good so I hope I'd never have to use it

Re: Sync PPMC to use Vantage 4.0 for CLI's

jaxstraw — Sun, 22 Sep 2019 11:01:25 GMT

@Anonymous wrote:
Well, this kinda sucks if this rep is right. I encourage others to call to investigate.

What is the free F*** that changed over to 4.0 ??

Re: Sync PPMC to use Vantage 4.0 for CLI's

imaximous — Sun, 22 Sep 2019 11:47:19 GMT

@jaxstraw wrote:
@Anonymous wrote:
Well, this kinda sucks if this rep is right. I encourage others to call to investigate.
What is the free F*** that changed over to 4.0 ??

They used to offer TU FICO 8 before the change.

Re: Sync PPMC to use Vantage 4.0 for CLI's

imaximous — Sun, 22 Sep 2019 11:51:16 GMT

Whether it sucks or not that’s another story, but if this is the case, at least they’re staying consistent with the scoring model used to approve requests.

Re: Sync PPMC to use Vantage 4.0 for CLI's

Anonymous — Sun, 22 Sep 2019 12:03:23 GMT

@imaximous wrote:
Whether it sucks or not that’s another story, but if this is the case, at least they’re staying consistent with the scoring model used to approve requests.

And also, for those worried/glad that their Vantage 4 score differs greatly from a FICO one, presumably the bank knows the range of their customers scores, so it's possible that they treat a V4 score X in the same way they would, in the past, have treated a FICO of X+40 (totally made up). Or not.

And for Sync at least, this means a FICO score is a FAKO!

Re: Sync PPMC to use Vantage 4.0 for CLI's

imaximous — Sun, 22 Sep 2019 12:24:04 GMT

@Anonymous wrote:
@imaximous wrote:
Whether it sucks or not that’s another story, but if this is the case, at least they’re staying consistent with the scoring model used to approve requests.
And also, for those worried/glad that their Vantage 4 score differs greatly from a FICO one, presumably the bank knows the range of their customers scores, so it's possible that they treat a V4 score X in the same way they would, in the past, have treated a FICO of X+40 (totally made up). Or not.

And for Sync at least, this means a FICO score is a FAKO!

I’d also be curious to know if their approval criteria changed with this new scoring model. SYNCB probably just decided that certain aspects of one’s credit profile are more or less important and switched to a model that lines up better with that criteria.

I didn’t opt in to get the new score when they switched from FICO thinking that they were trying to be “cheap” and offer an “educational” score only. The same thing other lenders like Cap One or Chase do by giving you Creditwise or Credit Journey, but don’t rely on either to make credit decisions. After seeing this thread, I got curious and noticed that my Vantage 4 is 799, which is WAY higher than my Vantage 3 at 718. My FICO 8 is 758 and FICO 9 is 777. 😂 Talk about being all over the place.

Re: Sync PPMC to use Vantage 4.0 for CLI's

Jnbmom — Sun, 22 Sep 2019 12:32:06 GMT

I don't know why this is such a surprise, they used TU FICO 8 which is the score they provided to us and based their CLIs on, now they switched to Vatage 4.0 which they provide to us , hence that is what they will be using..

Re: Sync PPMC to use Vantage 4.0 for CLI's

AverageJoesCredit — Sun, 22 Sep 2019 13:21:17 GMT

Honestly, i dont think it really matters. Going off your reports one should have a general idea if they would be able to get a cli or not. They might say yes we are going to use Vantage to make decisions but could in reality still use our Ficos. Im not going to lose any sleep over it

Re: Sync PPMC to use Vantage 4.0 for CLI's

I_Love_Cards — Sun, 22 Sep 2019 16:41:37 GMT

That’s all true too. Sync never gave me a CLI on anything with a TU Fico at 700 +/-. As soon as they swapped to Vantage (where I’m 630-645), I started to get CLI. They have been touted as a score-focused lender where 700+ means you’re “in”. So the idea of them changing to a model where my score is so much lower is ... unappealing.

But now with my brand new lower score-they have finally decided I’m worthy of CLI so it’s perhaps not the kiss of death.

Maybe someday, I’ll even get my Lowe’s card up over $500? A girl can dream.

Re: Sync PPMC to use Vantage 4.0 for CLI's

DaveInAZ — Sun, 22 Sep 2019 23:34:47 GMT

Holy Moly! Sync can use my Vantage 4 score for anything they want!

I just set my PPMC to provide me Vantage 4 score - 768!!!

I've always hated Vantage scores, thanks to Credit Karma Vantage 3 scores - my TU Fico8 is 734, TU VS3 score - 695. So I like Vantage 4 mucho more.

But, I'm maxed out on Synchrony CLs - $10k on PPMC, $15k Lowes, & $10k Walmart store card. Yeah, I know I could call Credit Solutions to ask for more on PayPal and maybe Walmart before it goes to Cap1, but good enough for me. And yeah you can go more on Lowes, but while I've done large spends in the past on deferred interest the past couple of years I've only bought a garden hose & potted plants to keep it active, so why push it.

Re: Sync PPMC to use Vantage 4.0 for CLI's

Jnbmom — Sun, 22 Sep 2019 23:19:03 GMT

And you can still use the " un enroll" trick to always get a fresh score😆

Re: Sync PPMC to use Vantage 4.0 for CLI's

DaveInAZ — Sun, 22 Sep 2019 23:31:37 GMT

@Jnbmom wrote:
And you can still use the " un enroll" trick to always get a fresh score😆

Ah, good tip! But I also have Lowes so I think I'll set that to Vantage 4 the begining of the month and get a Sync Vantage 4 score twice a month. Also I keep TU locked and will have to unlock it to re-enroll, monthly updates aren't a problem once enrolled.

Re: Sync PPMC to use Vantage 4.0 for CLI's

Jnbmom — Sun, 22 Sep 2019 23:41:27 GMT

And I must say these 4.0 scores fluctuate more often the gasoline 😂😂😂

Within 2 weeks, I have had multiple changes atleast 6 scoring changes 😕

Re: Sync PPMC to use Vantage 4.0 for CLI's

Jnbmom — Sun, 22 Sep 2019 23:46:51 GMT

@DaveInAZ wrote:
@Jnbmom wrote:
And you can still use the " un enroll" trick to always get a fresh score😆
Ah, good tip! But I also have Lowes so I think I'll set that to Vantage 4 the begining of the month and get a Sync Vantage 4 score twice a month. Also I keep TU locked and will have to unlock it to re-enroll, monthly updates aren't a problem once enrolled.

Oh yes I agree, between my multiple synch accounts I can get weekly if needed/wanted

Re: Sync PPMC to use Vantage 4.0 for CLI's

DaveInAZ — Sun, 22 Sep 2019 23:52:16 GMT

@Jnbmom wrote:
And I must say these 4.0 scores fluctuate more often the gasoline 😂😂😂

Within 2 weeks, I have had multiple changes atleast 6 scoring changes 😕

Ah, another good tip! Makes sense, my Fico scores are pretty stable while CK VS3 scores bounce like a basketball. A new account reported in early August, CK dipped a dozen points, TU Fico 2 points.

Re: Sync PPMC to use Vantage 4.0 for CLI's

K-in-Boston — Sun, 22 Sep 2019 23:53:49 GMT

@Jnbmom wrote:
I don't know why this is such a surprise, they used TU FICO 8 which is the score they provided to us and based their CLIs on, now they switched to Vatage 4.0 which they provide to us , hence that is what they will be using..

It's a surprise (if the chat agent was not mistaken) because other lenders that provide Vantage scores do not actually use them for lending decisions. This would likely be a big boost for those with marginal FICO scores and hurt those with above average scores from the data points we have seen, at least with VS3.

For TU, my current FICO 08 score is 802, while my VS3 score is 754 (about the closest it has ever been; it's sometimes 100+ points lower) and my VS4 score is only 742.

Because of the way the VS algorithms work, there are probably a lot of people here with FICO scores in the mid-600s that might have an easier time getting approvals and CLIs due to inflated VS scores than some people with 770-800 or higher FICO scores.