topic Re: Chase uses Vantage Scores? in Credit Cards

Chase uses their own scoring system?

Anonymous — Thu, 22 Dec 2011 20:49:46 GMT

I thought a big lender like Chase would use a FICO for everything..

But I just got my Freedom card and it gave me a 749 on a scale of 100 to 990.

According to them its an "Application Score"

Key factors that adversely affected your credit score:

Insufficient Amount of Credit Information is Reported on Credit Bureau Report..

Does that mean that I have too few accounts or something?

I'm in NY incase anyone is wondering..

Edit: Changed subject.. to something more appropriate.

Re: Chase uses Vantage Scores?

CS800 — Thu, 22 Dec 2011 19:40:04 GMT

@Anonymous wrote:
I thought a big lender like Chase would use a FICO for everything..

But I just got my Freedom card and it gave me a 749 on a scale of 100 to 990.

According to them its an "Application Score"

Key factors that adversely affected your credit score:
Insufficient Amount of Credit Information is Reported on Credit Bureau Report..

Does that mean that I have too few accounts or something?

I'm in NY incase anyone is wondering..

I got my Freedom yesterday and didnt get any scores?? And it didnt give me any factors adversely affecting my score. Thats strange.

I'm in MA

Re: Chase uses Vantage Scores?

CS800 — Thu, 22 Dec 2011 19:40:37 GMT

What CL did they give you?

Re: Chase uses Vantage Scores?

pizzadude — Thu, 22 Dec 2011 19:41:12 GMT

If you were applying for a Mortgage or Auto loan they would very likely use FICO scores. Lately though I have seen a lot of CCs where they use a non~FICO score to evaluate your application.

Re: Chase uses Vantage Scores?

Anonymous — Thu, 22 Dec 2011 19:48:37 GMT

@CS800 wrote:
What CL did they give you?

6,000, 19.99% apr (atrocious but I have never missed a payment/ carry a balance so it doesnt matter)

Edit: Also talked to the lady on the phone and was told that I could apply for a Sapphire Preferred in the future and the minimum CL they'd give me is 5,000 on that. (I have travel planned, so the plane tickets/dining out should be good. I can always cancel before the AF hits.)

Re: Chase uses Vantage Scores?

CS800 — Thu, 22 Dec 2011 23:17:24 GMT

@Anonymous wrote:
@CS800 wrote:
What CL did they give you?
6,000, 19.99% apr (atrocious but I have never missed a payment/ carry a balance so it doesnt matter)

Edit: Also talked to the lady on the phone and was told that I could apply for a Sapphire Preferred in the future and the minimum CL they'd give me is 5,000 on that. (I have travel planned, so the plane tickets/dining out should be good. I can always cancel before the AF hits.)

I wonder why I didnt get a score

My CL is $4500 with 0% for 6 months then 14.99% after

Re: Chase uses Vantage Scores?

Anonymous — Thu, 22 Dec 2011 19:51:03 GMT

Maybe you got the best APR they could give you?

I know I had to look around for mine, found it on the back of the letter that my card was taped to.

Re: Chase uses Vantage Scores?

MarineVietVet — Thu, 22 Dec 2011 19:53:23 GMT

Chase does use VantageScores for some decisions but not exclusively.

But the VS scale goes from 501-990 so I'm not sure what they pulled for you.

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: Chase uses Vantage Scores?

cashnocredit — Thu, 22 Dec 2011 20:00:38 GMT

@Anonymous wrote:
I thought a big lender like Chase would use a FICO for everything..

But I just got my Freedom card and it gave me a 749 on a scale of 100 to 990.

According to them its an "Application Score"

Key factors that adversely affected your credit score:
Insufficient Amount of Credit Information is Reported on Credit Bureau Report..

Does that mean that I have too few accounts or something?

I'm in NY incase anyone is wondering..

It's neither a Vantage score or FICO score. This is increasingly common. Application scores are scores that are usually derived from FICO or (less likely) Vantage Scores. They are combined with other info that is not included in risk scores. This would be income, and possibly job history, assets and historical banking info at Chase.

Scores are provided when you don't recieve the top tier (best interest rate) offer. If you do then scores may still be provided but they are not required.

Re: Chase uses Vantage Scores?

Anonymous — Thu, 22 Dec 2011 20:05:04 GMT

Ahh, okay, thanks!

Guess I'll have to wait for AmEx BCE to get here to find out my Ex FICO. :\

Re: Chase uses Vantage Scores?

CS800 — Thu, 22 Dec 2011 23:17:54 GMT

@Anonymous wrote:
Maybe you got the best APR they could give you?

I know I had to look around for mine, found it on the back of the letter that my card was taped to.

That could be the only reason why i didnt get a score.

Re: Chase uses their own scoring system?

Anonymous — Fri, 23 Dec 2011 01:40:09 GMT

@Anonymous wrote:
I thought a big lender like Chase would use a FICO for everything..

But I just got my Freedom card and it gave me a 749 on a scale of 100 to 990.

According to them its an "Application Score"

Maybe they're using that new scoring system that recently partnered with FICO, discussed here, called Core-Logic.

Re: Chase uses their own scoring system?

Anonymous — Fri, 23 Dec 2011 03:48:06 GMT

My recent approval letter for AARP card came with FICO TU98. Maybe scoring system varies by which product you apply for.

Re: Chase uses their own scoring system?

Anonymous — Fri, 23 Dec 2011 19:23:49 GMT

@Anonymous wrote:
My recent approval letter for AARP card came with FICO TU98. Maybe scoring system varies by which product you apply for.

Thats interesting..

Off topic:

Chase overnighted me an AU card for my dad. Didn't expect them to sent them next day air.