topic Re: Sears Solution Mastercard Fico score. in Credit Cards

Sears Solution Mastercard Fico score.

Anonymous — Thu, 02 Dec 2010 15:40:51 GMT

This card offers a monthly Tu Fico score but is it a true Fico? Last month it reported my Tu Fico at 688. I pulled Tu from here last month and it was only 644. Just logged on today and it says my Tu is 692. I also subscribe to CCT and my fako scores have not moved.

Re: Sears Solution Mastercard Fico score.

llecs — Thu, 02 Dec 2010 15:49:42 GMT

Nope. It's a FAKO called a TransRisk score. It is offered via CreditKarma which also uses TU.

http://www.searsscore.com/

Re: Sears Solution Mastercard Fico score.

Anonymous — Thu, 02 Dec 2010 15:56:42 GMT

Thanks I will disregard the scores from now on.

Re: Sears Solution Mastercard Fico score.

llecs — Thu, 02 Dec 2010 16:42:28 GMT

Don't be so quick to discount it, OP. A fellow mod pointed out that it says "FICO" on their homepage of the Sears credit page. Off to research.

Re: Sears Solution Mastercard Fico score.

Anonymous — Sun, 05 Dec 2010 00:33:40 GMT

RE: Sears card TU FICO ... it also has the copywrite logo after FICO so it should be the true FICO, right?

Re: Sears Solution Mastercard Fico score.

My2cents — Sun, 05 Dec 2010 00:43:58 GMT

It is a Fico score, but it is fico creditcard score. Fico generate a car loan score, a credit card score and a all purpose score. The Sears Solution score is the credit card score. Wamu called this score the pfico score. It is a variation of the fico score for credit cards.

Ole My2cents.

Re: Sears Solution Mastercard Fico score.

Anonymous — Sun, 05 Dec 2010 00:51:16 GMT

So in the generall scheme of things how good is it to get credit?

Re: Sears Solution Mastercard Fico score.

My2cents — Sun, 05 Dec 2010 16:19:01 GMT

3 Key Points

1. For the mere fact that Fico created a credit card score, I think that large banks actually use this variation of the score more,

because it is better in predicting risk for the banks when issuing credit cards.

2. However the card is an HSBC card and HSBC can be low limit cards if your file is full of low limit cards.

3. This card is also a secondary card if the first provider, which is Citi, deny you, then HSBC will counter with the Sears Solution mastercard.

So in essence, everyone with the Sears Solution Mastercard has been turned down for the Sears(Citi backed card).

Ole My2cents

Re: Sears Solution Mastercard Fico score.

Anonymous — Sun, 05 Dec 2010 16:31:34 GMT

Thanks for the reply. True, my Sears card is low limit (600) but my purchases have never hit the limit and it's paid off every month. I also have a BofA card with a 500 limit and the same with that. USBank however just gave me a card with a 5,500 limit - overall my debt ratio is less than 1% per month with everything being paid off end of month. That FICO score from Sears/TU sits at 811 and I have no idea how that correlates to the overall credit score scenaro .....

Re: Sears Solution Mastercard Fico score.

MarineVietVet — Mon, 06 Dec 2010 21:42:29 GMT

VEEVEE wrote:

I finally found an answer for you. This is a legit score being offered by HSBC, for some of their Sears and KMart portfolios. This is part of the same program as by PSECU and formerly by WaMu (now Chase).

I also believe this is the TU04 version.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Sears Solution Mastercard Fico score.

Anonymous — Mon, 06 Dec 2010 22:35:22 GMT

Thanks so much for the research I truly appreciate it.