topic Re: FICO SCORES Compared to what Lenders see in General Credit Topics

FICO SCORES Compared to what Lenders see

Jontevius — Mon, 02 Jul 2007 14:39:14 GMT

Hey guys I recently applied for a CITI World Mastercard, and I also applied for a USAA auto loan, I requested 25,000 from USAA. Well I didn't get a response yet from CITI Bank but USAA approved my request with an apr of 5.99% anyway I decided to ask the representative what was the score they got compared to what I see here on myFICO. She said they pulled a 727 from my Equifax, when I applied for the loan myFICO was reporting my EQ as 712. So it's in the ball park but there's still a variance of 15 points. Not sure if I want to completely trust the scores given from myFICO I mean it's close but that could have easily been 15 negative points. I'll update this post when I receive a response from CITI Bank. I've been denied by them before. Even with a 700+ score. But I'll take a different approach.

Re: FICO SCORES Compared to what Lenders see

MidnightVoice — Mon, 02 Jul 2007 14:45:43 GMT

Was that a FICO or an AutoAdjusted FICO?

(see CS101)

Re: FICO SCORES Compared to what Lenders see

Tuscani — Mon, 02 Jul 2007 15:19:59 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=1231

Re: FICO SCORES Compared to what Lenders see

Jontevius — Tue, 03 Jul 2007 06:04:12 GMT

Hey guys, thanks for the posts. I'll go ahead and say that was my auto adjusted fico. Of course I didn't bother to ask but I'm sure the service rep would have told me the comparisons, as she volunteered plenty of vital info for me. So I guess I'll try and get whatever scores I can get out of CITI bank if they approve or deny me. I'm just curious to see how close myFICO is to what lenders see so I can feel more confident about my financial state. I hate feeling unsure about things.

Re: FICO SCORES Compared to what Lenders see

Tuscani — Tue, 03 Jul 2007 14:09:13 GMT

Good luck. Be sure to post up the differences. I am always intersted in comparing auto and classic scores.

Re: FICO SCORES Compared to what Lenders see

Jontevius — Fri, 06 Jul 2007 15:50:00 GMT

Update---- I was approved for a CLI with my only credit card from Chase. I really hate them, I got a $500.00 increase after asking for 1k. My limit before that was 200. They e mailed me saying they would mail me reasons why they could only partially approve my request. My scores have only gone up since then, EX 730 TU 734 EQ 716 I mean what more do they need? And still no response from the AAdvantage Master Card I spoke of a few days ago. Hey by the way I called USAA back on the auto loan they said it wasn't an autoadjusted score it was just my FICO score which it was exactly 726 and thats my middle score. So at least I got one good thing, that I can totally trust the scores I receive from MYFICO. I'll post again when I get a response from the Mastercard.

Re: FICO SCORES Compared to what Lenders see

MidnightVoice — Fri, 06 Jul 2007 16:00:38 GMT

Jontevius wrote:
Update---- I was approved for a CLI with my only credit card from Chase. I really hate them, I got a $500.00 increase after asking for 1k. My limit before that was 200. They e mailed me saying they would mail me reasons why they could only partially approve my request.

Did they do a hard pull?

Re: FICO SCORES Compared to what Lenders see

chartley3 — Fri, 06 Jul 2007 17:35:21 GMT

I have this issue all the time when a lender pulls my TU score Right now its 595 according to MyFico however it can be as low as 541 which by the was was my TU FAKO. It makes for a fun time when trying to recon because alot of lenders wont even consider they MyFico score because they didnt pull it. I personally would love to see 1 standard score through 1 entity.

Re: FICO SCORES Compared to what Lenders see

Jontevius — Sun, 08 Jul 2007 11:26:22 GMT

Did they do a hard pull?

Yes midnight it was a hard pull. I'm just really curious to see why I couldn't be granted the full 1k. The pulled my Experian which is a 730, and it had to be higher than that before the hard inquiry. And I've been with chase for about 2 years. Any suggestions on what I might can do to push for the higher limit? I'm still waiting on the partial approval letter.

Re: FICO SCORES Compared to what Lenders see

Jontevius — Sun, 08 Jul 2007 11:31:13 GMT

Wow it seems to me you're banking with that other 10% of lenders that don't use FICO scores to determine your elgibility for credit. Might I ask which lenders have you tried in your many times of experience seeking for credit did you apply? Because I've never ran across a lender who didn't pull my FICO Scores.

Re: FICO SCORES Compared to what Lenders see

Jontevius — Wed, 11 Jul 2007 14:28:35 GMT

Well i said i would update when I got a response from CITI for a AA World Mastercard with scores above 700. Well I was denied. Reasons being:

Dear Mr Johnson:

We recently received your application. We are unable to establish an account for you at this time. The reason for this decision is that we could not verify the accuracy of the information provided on the application or documentation submitted.

Sincerely,

Blah blah Dousche Bag

So I called to find out what couldn't be verified only to be given a complete run around saying they don't have access to the info that can provide me with an answer. So I'm thinking oh that's crap. So I called back to talk with a different Rep. She tells me they do have access to that info and provided me with the following:

"The phone number on the application did not match the phone number on your application, as a matter of fact sir, there was no phone number on your credit report so in accordance with our policy, we denied the application"

So at this point I'm steamed. Now the only reason they went through the extensive process for verification is because I had a credit fraud alert placed on my account while I've been deployed to Iraq because the local nationals that work here are very sneaky. They were known to have been taking credit card and debit card information when we make purchases in stores. So I had that alert placed on my account. I didn't know it would come back to haunt me. So bottom line they need a number on the report to match with whats on the application, which I'll have to take another hit on my Equifax with I refuse to do, those idiots act as if they couldn't have the 1st inquiry removed considering my situation here in Iraq there's no number I can provide fot them to contact me directly. So if all i need to do is post a number that matches the app I'd be fine. But they wont' remove the 1st inquiry so I'm done with applying for this year, I have too many inquiries on my Equifax report for this year. 4 from this year and 3 from last year. But i'll survive with my VISA and AMEX for now. One day i'll have a Mastercard without the Bull Crap. Word to the wise, expect to go through hell and beyound if you ever have a fraud alert placed on your account, obtaining credit will become a real pain.