topic Re: Capital One Question? in Credit Cards

Capital One Question?

Anonymous — Fri, 06 May 2011 04:08:06 GMT

Hi All,

I am new here, and like a lot of people, I am rebuilding my credit after bankruptcy (discharged 7/09) and divorce.

I started with a credit score of around 588.

I applied and got my first card after bankruptcy in April of 2010. A Capital One card with a $500 CL that, after about 6 months, got a CLI to $750.

I have a couple of store accounts with low limits and I have a new car loan the past November.

I have been 100% on-time with everything for the past year and have been trying to get the bad accounts off my credit report. So far I think I am doing OK.

My TrueCredit FAKO' score are:

TU: 684

EX: 634

EQ: 654

I applied for a Capital One No Hassle Rewards card a couple of days ago and was approved online instantly.

Now, for my question. I have not yet received my card yet, but Capital One did sent me disclosure information on my new account. On the back page it says my Experian credit score is 608.

I am curious to know ... Is this really my Experian FICO or is it a Plus score or another FAKO?

Re: Capital One Question?

tsquad131 — Fri, 06 May 2011 05:11:56 GMT

I've heard most lenders use FICO scores to look at when making a lending decision so thats why people buy FICO scores so the consumer can see what the lenders see, I've heard for auto loans that lenders use Plus scores to make a loan decision. I would guess its a FICO

Re: Capital One Question?

MarineVietVet — Fri, 06 May 2011 05:22:43 GMT

Hello and welcome to myFICO.

Lenders have access to all three FICO scores so I'm pretty sure (I'm not certain of anything having to do with credit) that the score Cap 1 sent you is a real FICO score.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

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

Re: Capital One Question?

MarineVietVet — Fri, 06 May 2011 05:25:11 GMT

@tsquad131 wrote:
I've heard most lenders use FICO scores to look at when making a lending decision so thats why people buy FICO scores so the consumer can see what the lenders see, I've heard for auto loans that lenders use Plus scores to make a loan decision. I would guess its a FICO

At this time I don't believe any lenders are using Plus scores.

This is from the Experian website:

The PLUS Score®, developed by Experian, and the different risk levels presented by it, are for educational use only. The PLUS Score® is not currently sold to lenders, and is not an endorsement or guarantee of your credit worthiness as seen by lenders.

Re: Capital One Question?

Anonymous — Fri, 06 May 2011 16:37:24 GMT

@tsquad131 wrote:
I've heard most lenders use FICO scores to look at when making a lending decision so thats why people buy FICO scores so the consumer can see what the lenders see, I've heard for auto loans that lenders use Plus scores to make a loan decision. I would guess its a FICO

tsquad131, lenders will usually use a different flavor of the FICO score, known as the Auto Enhanced Score, when deciding auto loans. It is tailored specifically for that industry. A Plus score is a different animal altogether.

A fuller explanation of Auto Enhanced scoring and how it's used can be found here.

Hope this helps.

P.S. to the OP, jtaber79: Marinevietvet is right, I believe. It's probably your real EX FICO score shown on that disclosure from Cap1. And welcome to the myFICO community!

Re: Capital One Question?

Anonymous — Fri, 06 May 2011 17:30:59 GMT

Thanks everyone!

It would figure that they would use my Experian FICO (which I think reflects the most negative). When I applied for the No Hassle Rewards card, they pulled TransUnion and Experian but not Equifax (or at least I have not seen it show up yet as in INQ and it's been over a week).

I am still cleaning up my Experian and Equifax reports. I have managed to get all but one derogatory off my TU report and it won't be going away for some time (BK). Experian and Equifax seem to take longer for responses to disputes. According to where I live, there is a 3rd party (CSC Credit Services) that I have to go through for Equifax. Experian won't let me dispute anything online anymore

Re: Capital One Question?

annalog — Sat, 07 May 2011 05:51:28 GMT

From my experience, CapitalOne ususally pulls all three credit bureau reports. Wierd.

Re: Capital One Question?

trumpet-205 — Sat, 07 May 2011 06:14:19 GMT

Cap One also pull Innovis, a small CRA in US.