topic Re: EEP. GE/Discover online aren't SP? in Credit Cards

EEP. GE/Discover online aren't SP?

Anonymous — Sat, 10 Aug 2013 10:22:21 GMT

For some reason I was under the impression that GE and Discover were SP when I click the button online. To my horror, I pulled my Walmart FICO today. Down from 709 to 696, and a warning that I've, 'recently been looking for credit'. D:

Re: EEP. GE/Discover online aren't SP?

slothy — Sat, 10 Aug 2013 15:26:42 GMT

when i called my cli in for discover it was a sp - 1k to 3750

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sat, 10 Aug 2013 17:27:15 GMT

Discover will let you know if a HP is required online. Walmart CLI has always been a sp. you'd be the first to have a Hp for a Walmart card that I have heard of.

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 01:29:59 GMT

I bit the bullet and paid FICO for a credit report. It's all the way down to a 626!

So Walmart (TU08): 709 --> 696

MyFICO: 626

Can someone explain the difference in scores for me? Which is more relevant? Why does the Walmart score say that I've recently been applying for credit? It didn't say that last month, and my last inquiry was early June.

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 17:53:23 GMT

Walmart uses a different (newer) version of TU that is not sold here. Recently applying for credit can mean 6 mos-1 yr

Edit: missing word

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 08:13:05 GMT

Thanks Lexie. Any reason that they just gave me that message now? I've been scoring with the Walmart card since April and have just gotten that message.

Also, do you have any idea why myFico gives us an old scoring system? It seems kind of silly.

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 09:10:34 GMT

No, I don't know why they are giving you that message now. Both versions are accurate; scores are just calculated differently. Most important thing is what's in your report; not the score in ths case.

For more information, take a look at ths thread:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/36-pt-difference-in-Walmart-TU-and-myfico-TU/td-p/1707404

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 10:07:18 GMT

That adds a bit of complexity because we don't know what year different lenders pull. This thread sums it up pretty well. I'm going to poke around and see if I can get any insight on what scoring models different banks use.

Re: EEP. GE/Discover online aren't SP?

LS2982 — Sun, 11 Aug 2013 10:47:42 GMT

@Anonymous wrote:
Walmart uses a different (newer) version of TU that is not sold here. Recently applying for credit can mean 6 mos-1 yr

Fixed

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 11:18:42 GMT

@Anonymous wrote:
Thanks Lexie. Any reason that they just gave me that message now? I've been scoring with the Walmart card since April and have just gotten that message.
Also, do you have any idea why myFico gives us an old scoring system? It seems kind of silly.

a lot people say barclays still uses TU 98, and they mainly pull TU.

i pulled my tu just before i apped in may(rejected), my letter came back with the exact same score.

i pulled TU again this month before apping again, we'll say what this letter says (approved this time)

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 11:40:25 GMT

I was kind of curious about US Bank and Chase, myself. Can we compile a list somewhere?

Re: EEP. GE/Discover online aren't SP?

Anonymous — Sun, 11 Aug 2013 17:52:50 GMT

Chase uses an internal scoring.

@LS

Thanks!