topic Re: AMEX internal scoring in Credit Cards

AMEX internal scoring

Anonymous — Fri, 17 May 2013 01:50:54 GMT

I have been using Scorewatch by Discover since it's only 9.99 a month and let you access your credit reports fairly regularly. When I received my AMEX sky blue in the mail today it said my EQ Fico was 676. So I became a little worried that I have become a little over confident based on FAKO scores. When I checked on MyFico it gave me the same score that ScoreWatch has been giving me in the 700's. So I'm guessing that Amex's letter was referencing an internal scoring?

Re: AMEX internal scoring

Anonymous — Fri, 17 May 2013 02:07:25 GMT

Amex pulls EXPERIAN.

Discover and Scorewatch pulls EQUIFAX.

Re: AMEX internal scoring

LS2982 — Fri, 17 May 2013 02:19:14 GMT

@Anonymous wrote:
I have been using Scorewatch by Discover since it's only 9.99 a month and let you access your credit reports fairly regularly. When I received my AMEX sky blue in the mail today it said my EQ Fico was 676. So I became a little worried that I have become a little over confident based on FAKO scores. When I checked on MyFico it gave me the same score that ScoreWatch has been giving me in the 700's. So I'm guessing that Amex's letter was referencing an internal scoring?

Sounds like AMEX pulled a different flavor of FICO other than BEACON 5.0.

Re: AMEX internal scoring

zeusta20 — Fri, 17 May 2013 02:23:12 GMT

When I got my Green Card, I never received a copy of my fico score?! Is there a reason why???

Re: AMEX internal scoring

jamesdwi — Fri, 17 May 2013 02:25:08 GMT

You applied for a Charge card, they are not required to give you your FICO score if they approved you, because you got the best possible APR. If you get a revolver and they don't give you the best APR because of your FICO score they are required to give you a report.

Re: AMEX internal scoring

zeusta20 — Fri, 17 May 2013 02:28:36 GMT

Ohhh gotcha...okay.

Thanks!

@jamesdwi wrote:
You applied for a Charge card, they are not required to give you your FICO score if they approved you, because you got the best possible APR. If you get a revolver and they don't give you the best APR because of your FICO score they are required to give you a report.

Re: AMEX internal scoring

Anonymous — Fri, 17 May 2013 02:50:07 GMT

I think the report that Amex pulls depends on which state you're in. The letter that came with my card specifically said that the source was Equifax even though they pulled all three. ScoreWatch monitors experian but gives you quarterly access to all three reports with corresponding scores.

Re: AMEX internal scoring

Walt_K — Fri, 17 May 2013 03:13:19 GMT

@Anonymous wrote:
I think the report that Amex pulls depends on which state you're in. The letter that came with my card specifically said that the source was Equifax even though they pulled all three. ScoreWatch monitors experian but gives you quarterly access to all three reports with corresponding scores.

If it said it was an EQ FICO, and you pulled your EQ FICO from here at the same time, and they were different, I would second LS's comment above. Amex must be giving you a different version of EQ than Beacon 5.0. But it's not an internal Amex score.

Re: AMEX internal scoring

llecs — Fri, 17 May 2013 04:52:53 GMT

@Anonymous wrote:
....ScoreWatch monitors experian but gives you quarterly access to all three reports with corresponding scores.

SW monitors EQ, not EX an only provides your EQ report and EQ FICO score. It doesn't monitor all 3. It also gives you a chance to pull 2 reports per year at your discretion with the first being used when you first subscribe.

Re: AMEX internal scoring

thom02099 — Fri, 17 May 2013 11:20:49 GMT

@llecs wrote:
@Anonymous wrote:
....ScoreWatch monitors experian but gives you quarterly access to all three reports with corresponding scores.
SW monitors EQ, not EX an only provides your EQ report and EQ FICO score. It doesn't monitor all 3. It also gives you a chance to pull 2 reports per year at your discretion with the first being used when you first subscribe.

I have been using Scorewatch by Discover (from the OP)

I think Scorewatch/SW are getting combined/mixed up here. SW from MyFICO; Scorewatch from Discover.

And yes, you're probably getting a Beacon 9.0 score for EQ.

Re: AMEX internal scoring

Anonymous — Fri, 17 May 2013 11:30:41 GMT

Ok to be clear:

Amex pulls EX 99% of the time. Sometimes they will double or triple pull as they deem fit. If they triple or double pull you, they will still provide you with only 1 score on the letter (from what I can tell from 2 examples...), unless you call and ask for your scores.

Discover is known to pull TU / EX predominanently, but they do pull EX in rare circumstances. Like every other lender, they might also double or triple pull as they deem fit.

Scorewatch provided by myFICO pulls EQUIFAX.

Not sure about what Discover monitoring service pulls.

AND on top of all that............there's all kinds of different versions for FICO calculations.

There's different versions of Beacon for instance.

There's also different formulas with emphasis on different areas, such as auto loan enhanced FICO, credit cards enhanced FICO, etc etc.

And of course, there's also a vantage scoring model that isn't FICO, that is sometimes utilized by certain lenders (i.e. Chase).

And there's also the internal scoring that each individual lender utilize.

Best way is for you to call whichever lender that provided you that score, and ask them what they used.

Re: AMEX internal scoring

Anonymous — Fri, 17 May 2013 13:09:19 GMT

Yes, and I apologize as maybe Discover calls it Credit Score Tracker or something. I apologize if I confused anyone but I was going off of what it says when it's directly billed to my card. I guess I was ultimately confused because the difference in scores was upwards of 35 points....that's very significant. I hate that scoring Models could differ that much.