topic Re: CreditOnes secondary subprime score... in General Credit Topics

CreditOnes secondary subprime score...

joltdude — Thu, 29 Dec 2016 17:52:55 GMT

Got a revised denial letter from CreditNone.. er One... (dated last year for the score btw)

Am curious as to what the heck secondary/subprime scoring they are using...

Its some custom flavor of risk score from Experian that has the range of -5 to 298

Isn't a flavor of L2C which iv seen elsewhere (Discover oddly enough)

Dont know where the cutoffs are for whats "good" and not either....

The typical pull reasons out of their backside for Key factors.......

-J

Re: CreditOnes secondary subprime score...

Revelate — Thu, 29 Dec 2016 17:55:58 GMT

What are you doing applying for anything from them senor?

AFAIK it was pure proprietary but I haven't really tracked CreditOne since my default position is avoid them like the plague.

Re: CreditOnes secondary subprime score...

joltdude — Thu, 29 Dec 2016 18:04:25 GMT

@Revelate wrote:
What are you doing applying for anything from them senor?

AFAIK it was pure proprietary but I haven't really tracked CreditOne since my default position is avoid them like the plague.

This was an SP query that ended my monthly free score from them in 2015, hence the date.. I guess they got busted for not including the score and the agency that provided it...

Id just like to figure out a bit what the ranges are on it.. perhaps someone with not so stellar credit got a similar decline and wondered what is actually good...

at least with the L2C propriatary score, it was close enough to a Fako you could have a clue as to what it was..

Now i get two FICO scores from Discover(Account and CS) and one from FCS once a month....

Yeah.. Chase just gave me a 14.x offer for a FU in my account... and we wont mention the Discover Train...

Only one im a bit dissapointed in is blispay for CL.. score was great at the time.. was hoping to be in 5k land... (nope)

Re: CreditOnes secondary subprime score...

Revelate — Thu, 29 Dec 2016 18:35:32 GMT

Do people actually get turned down for Credit One in the subprime strata? Their model seems heavily predicated on an aggressive collections department with like a 30% expected default rate within 1-3 months unless I miss my guess.

Re: CreditOnes secondary subprime score...

joltdude — Thu, 29 Dec 2016 21:08:58 GMT

Yes folks DO get turned down by CreditNone.....

Oftentimes if your score is in the 7s (which mine was/is) (real fico, not their whatever score) they will TURN YOU DOWN....

Its similar to Sync or Comenty closing your account because your not as profitable as someone who leaves a balance and uses their card heavily....

I am proud to say I was turned down by CreditOne.... predatory sub-subprime lender (cough)...

Re: CreditOnes secondary subprime score...

Credit_hawk — Thu, 29 Dec 2016 23:06:18 GMT

@joltdude wrote:
Yes folks DO get turned down by CreditNone.....

Oftentimes if your score is in the 7s (which mine was/is) (real fico, not their whatever score) they will TURN YOU DOWN....
Its similar to Sync or Comenty closing your account because your not as profitable as someone who leaves a balance and uses their card heavily....
I am proud to say I was turned down by CreditOne.... predatory sub-subprime lender (cough)...

=)

Talk about turning a negative into a positive lol

Re: CreditOnes secondary subprime score...

Revelate — Thu, 29 Dec 2016 23:20:17 GMT

@joltdude wrote:
Yes folks DO get turned down by CreditNone.....

Oftentimes if your score is in the 7s (which mine was/is) (real fico, not their whatever score) they will TURN YOU DOWN....
Its similar to Sync or Comenty closing your account because your not as profitable as someone who leaves a balance and uses their card heavily....
I am proud to say I was turned down by CreditOne.... predatory sub-subprime lender (cough)...

=)

Being in the 700's is not subprime by the traditional mortgage definition. They're not dumb, they know you're not a real customer for them .

I'm talking people arguably deep subprime, call it 500-600, are those people being denied?

Re: CreditOnes secondary subprime score...

joltdude — Fri, 30 Dec 2016 14:55:28 GMT

@Revelate wrote:
@joltdude wrote:
Yes folks DO get turned down by CreditNone.....

Oftentimes if your score is in the 7s (which mine was/is) (real fico, not their whatever score) they will TURN YOU DOWN....
Its similar to Sync or Comenty closing your account because your not as profitable as someone who leaves a balance and uses their card heavily....
I am proud to say I was turned down by CreditOne.... predatory sub-subprime lender (cough)...

=)

Being in the 700's is not subprime by the traditional mortgage definition. They're not dumb, they know you're not a real customer for them .

I'm talking people arguably deep subprime, call it 500-600, are those people being denied?

Im curious about this too.. they also can/do turn down people with no score reporting.... that I can attest to... (this is pre-myfico).... but thats really a positive thing..

I dodged that bullet a long time ago..

Re: CreditOnes secondary subprime score...

Revelate — Fri, 30 Dec 2016 15:03:39 GMT

@joltdude wrote:
@Revelate wrote:
@joltdude wrote:
Yes folks DO get turned down by CreditNone.....

Oftentimes if your score is in the 7s (which mine was/is) (real fico, not their whatever score) they will TURN YOU DOWN....
Its similar to Sync or Comenty closing your account because your not as profitable as someone who leaves a balance and uses their card heavily....
I am proud to say I was turned down by CreditOne.... predatory sub-subprime lender (cough)...

=)

Being in the 700's is not subprime by the traditional mortgage definition. They're not dumb, they know you're not a real customer for them .

I'm talking people arguably deep subprime, call it 500-600, are those people being denied?

Im curious about this too.. they also can/do turn down people with no score reporting.... that I can attest to... (this is pre-myfico).... but thats really a positive thing..
I dodged that bullet a long time ago..

Oh were you a no file or did you have negatives on there when that happened? That's curious, and yeah you did dodge a bullet, or something like what $108 in fees over the year haha.

Re: CreditOnes secondary subprime score...

joltdude — Fri, 30 Dec 2016 20:41:46 GMT

No file.. No Score generating...

Basically i was building credit not rebuilding credit..

Re: CreditOnes secondary subprime score...

Revelate — Fri, 30 Dec 2016 21:00:45 GMT

@joltdude wrote:
No file.. No Score generating...
Basically i was building credit not rebuilding credit..

Strange, I figured they would've auto-approved a no file. Seems like a flaw in their algorithms to me personally.