topic Re: Do some CC's count more towards your FICO than others in Understanding FICO® Scoring

Do some CC's count more towards your FICO than others

Anonymous — Sun, 13 Mar 2016 20:04:11 GMT

Are there credit cards that will affect your score more than others. I thought I saw somewhere where a major bank card counts more than a store card. No proof, just something I thought I heard and wa wondering about. Thanks for your replies.

Re: Do some CC's count more towards your FICO than others

Anonymous — Sun, 13 Mar 2016 20:11:07 GMT

no. revolving is revolving

Re: Do some CC's count more towards your FICO than others

myjourney — Sun, 13 Mar 2016 20:22:26 GMT

@Anonymous wrote:
no. revolving is revolving

All coounted the same

No difference in Fico eyes under any model

Welcome to the forum

Re: Do some CC's count more towards your FICO than others

Anonymous — Sun, 13 Mar 2016 20:23:25 GMT

what you may have seen is in MANUAL underwriting then store cards are looked at more negatively to the underwriters but they won't lead to a denial alone

Re: Do some CC's count more towards your FICO than others

mccallb — Sun, 13 Mar 2016 20:33:13 GMT

re: Manual underwriting - i think some of the more prestigious cards may like to see that other prestigious lenders have chosen you, like perhaps CSP likes you to have an amex, (or looks at it favorably?)

But I don't know specifically who or what that pertains to. I've never had a problem and I apped for all my prestige cards at the same time.

Re: Do some CC's count more towards your FICO than others

Anonymous — Sun, 13 Mar 2016 20:36:56 GMT

I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.

Re: Do some CC's count more towards your FICO than others

Bankrupt2019 — Sun, 13 Mar 2016 20:51:32 GMT

IMHO you're probably not going to see much in the way of increase until your scores come up a bit, however you may want to call synchrony credit solutions (1-866-519-6441) and ask them for the limit increase on your card. If you used the "luv" button the computer likely used the same score that was used for your original approval.

Re: Do some CC's count more towards your FICO than others

Anonymous — Sun, 13 Mar 2016 21:06:12 GMT

on this topic - your credit reports only show that you have whatever type of account with X lender, right? IE they can't see what specific product you have, only that you have a revolving / NPSL / etc account with say Chase, Barclays, etc right?

In that case how would they know if you had 'prime cards' VS just mid-level cards from the same banks?

Re: Do some CC's count more towards your FICO than others

Anonymous — Sun, 13 Mar 2016 21:08:23 GMT

because chase doesn't offer really "subprime" cards, secured cards are labeled as such, flexible spending limit cards get reported as such, and places like barclay don't really change the decision if you have them or not. based on where i work they don't care if you have credit one cards vs amex but they don't view store cards very well. so it may differ by lender

Re: Do some CC's count more towards your FICO than others

pizza1 — Sun, 13 Mar 2016 21:44:12 GMT

@Bankrupt2019 wrote:
IMHO you're probably not going to see much in the way of increase until your scores come up a bit, however you may want to call synchrony credit solutions (1-866-519-6441) and ask them for the limit increase on your card. If you used the "luv" button the computer likely used the same score that was used for your original approval.

no offense, but this has been brought before multiple times......the BLUE IS HARD TO READ AND NOT EYES ON THE EYES!

Re: Do some CC's count more towards your FICO than others

Bankrupt2019 — Mon, 14 Mar 2016 01:25:06 GMT

@pizza1 wrote:
@Bankrupt2019 wrote:
IMHO you're probably not going to see much in the way of increase until your scores come up a bit, however you may want to call synchrony credit solutions (1-866-519-6441) and ask them for the limit increase on your card. If you used the "luv" button the computer likely used the same score that was used for your original approval.
no offense, but this has been brought before multiple times......the BLUE IS HARD TO READ AND NOT EYES ON THE EYES!

That better?

Re: Do some CC's count more towards your FICO than others

Anonymous — Mon, 14 Mar 2016 01:30:07 GMT

just take the bold off. that's the part that makes it hardest.

Re: Do some CC's count more towards your FICO than others

Bankrupt2019 — Mon, 14 Mar 2016 01:32:57 GMT

@Anonymous wrote:
just take the bold off. that's the part that makes it hardest.

I think I just like it better because it's easier to read on my tiny iPhone

Re: Do some CC's count more towards your FICO than others

Anonymous — Mon, 14 Mar 2016 01:43:29 GMT

oh. i have a big iPhone. lol.

Re: Do some CC's count more towards your FICO than others

CreditMagic7 — Mon, 14 Mar 2016 02:46:00 GMT

@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.

I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.

Re: Do some CC's count more towards your FICO than others

Themanwhocan — Mon, 14 Mar 2016 03:02:46 GMT

@CreditMagic7 wrote:
@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.
I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.

Its not prime cards. Whatever that is supposed to mean. Its:

There are not enough premium bankcard accounts on your credit report.

Which is to say, credit cards from a bank, with a credit limit of $10,000+ as of 1998. We know this because Transunion revealed some details in some reports they had to give to the government back in 1998. So, is the magic value still $10,000 or has it increased? We just don't know. We also don't know how many is "enough".

So yes, some CC count more towards your FICO than others. Also, If you get one from a finance company, those types of places are considered lenders of last resort, so it becomes a negative on your report.

Re: Do some CC's count more towards your FICO than others

Revelate — Mon, 14 Mar 2016 04:44:13 GMT

@myjourney wrote:
@Anonymous wrote:
no. revolving is revolving
+1
All coounted the same
No difference in Fico eyes under any model

Welcome to the forum

Any recent model to my knowledge true; however, FICO NextGen broke out store cards and bank cards in the reason codes.

Granted I know of only like 2 CU's that still use either 1.0 or 2.0 for that suite of models: unless you're dead set on getting a product from Penfed odds are you'll never encounter it.

Re: Do some CC's count more towards your FICO than others

Anonymous — Mon, 14 Mar 2016 07:14:30 GMT

I just reviewed my credit check total 3B report from 3/4/16 and noticed some differences in how my revolving accounts were shown.

Barclays, B of A, Cap1, Fifth Third, USAA, were listed as 'Bank Credit Cards'.

My Overstock store card was listed as 'Retail, not elswhere classified' and still as 'revolving' on EXperian, EQ says 'Miscellaneous', and TU says 'Variety, National Chain'.

My Amazon Prime store card is listed as 'Variety Stores' on EX, 'Mail Order firm' on EQ, and TU says 'Variety, National Chain'.

My closed Credit One account was a Bank Credit Card.

My Merrick account is a Bank Credit Card.

My Walmart Dual Card (Mastercard) is listed as a Bank card.

On EQuifax, my Sportmans Guide Visa and Modell's Visa from Comenity is listed as 'Sporting Goods', but TU shows it as 'Banks and S&Ls'. (EX said Bank Card).

I havent received any comments about the types of revolving accounts from any app or CLI request yet, and my Overstock card has been on my reports when I made most of the other apps.

HTH

ETA: I could understand that type of response if one had a 'heavy' showing of store cards that would look like redundant listings. I worry that my having Sportmans Guide Visa and also Modells Visa looks redundant in my case, and I may drop the one with lowest CL in the future. I do use both my Amazon and my Overstock cards and will keep both, as well as Walmart. I did get Overstock, Sportmans Guide Visa, and Modells Visa from the Comenity SCT, my only ones from there.

Re: Do some CC's count more towards your FICO than others

CreditMagic7 — Mon, 14 Mar 2016 07:29:29 GMT

@Themanwhocan wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.
I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.
Its not prime cards. Whatever that is supposed to mean. Its:

There are not enough premium bankcard accounts on your credit report.

Which is to say, credit cards from a bank, with a credit limit of $10,000+ as of 1998. We know this because Transunion revealed some details in some reports they had to give to the government back in 1998. So, is the magic value still $10,000 or has it increased? We just don't know. We also don't know how many is "enough".

So yes, some CC count more towards your FICO than others. Also, If you get one from a finance company, those types of places are considered lenders of last resort, so it becomes a negative on your report.

Broken down by that variable indeed.

Premium = Credit Limit of at least some expected Limit (Whatever the current number which meets lender criteria)

Bankcards = Industry-wide Leading Standard Visa/MC/Amex/Discover

And as indicated steer clear of any Finance Company Accounts which explaination is spot-on.

Re: Do some CC's count more towards your FICO than others

Thomas_Thumb — Mon, 14 Mar 2016 14:00:53 GMT

@CreditMagic7 wrote:
@Themanwhocan wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.
I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.
Its not prime cards. Whatever that is supposed to mean. Its:

There are not enough premium bankcard accounts on your credit report.

Which is to say, credit cards from a bank, with a credit limit of $10,000+ as of 1998. We know this because Transunion revealed some details in some reports they had to give to the government back in 1998. So, is the magic value still $10,000 or has it increased? We just don't know. We also don't know how many is "enough".

So yes, some CC count more towards your FICO than others. Also, If you get one from a finance company, those types of places are considered lenders of last resort, so it becomes a negative on your report.
Broken down by that variable indeed.

Premium = Credit Limit of at least some expected Limit (Whatever the current number which meets lender criteria)

Bankcards = Industry-wide Leading Standard Visa/MC/Amex/Discover

And as indicated steer clear of any Finance Company Accounts which explaination is spot-on.

As others have mentioned, Fico 08, Fico 09 and Fico mortgage (04 and 98) models do not look at type of revolving credit card in their scoring models nor do the look at credit limits directly in scoring.

Credit based insurance scoring (CBIS) models DO look at average CC credit limit (LexisNexis, TransUnion and probably Fico - yes Fico is a player in CBIS but not the dominant one). For CBIS an average CL of $10k or more is typically the top scoring category. Also, some CBIS models (LexisNexis) also look at type of card (Bankcard, retail card, gas card, etc...).

Credit card issuers may look at what cards you have (are they 1st, 2nd or 3rd tier) and credit limits on your current cards as part of their decisioning. They may state something related to this in a rejection letter. Nonetheless, other than Fico NextGen, average CL and type of revolver card are not scoring factors. Sure, CL influences utilization, but the scoring factor is utilization.