Capital One CLI - CSR's are a joke.

[Anonymous]

Hello, This is pretty much a frustration post: I did a CLI a few times last week and I get the document in my account showing denied due to credit score and income and my current credit card utilization. My income is well over $100k and my Equifax FICO8 (which it says they are using) is 678 and my utilization is 1%. They are showing me an Equifax score of 577??? It also shows the date of the report as 1-1-2019. Even then, my score was not 577. I told them even when I log in to my Capital One account, my score is 100 points higher and they said, I'm sorry sir, you will just need to try again in a few months. Where are they getting this score and what utilization are they looking at? I called them many times, spoke with supervisors and even the useless facebook chat. No one can give me an answer and everything they say is scripted no matter what I ask, they revert to the same exact answers. I emailed the CEO yesterday afternoon so I am hoping someone reaches out to me this week.

[AverageJoesCredit]

In my town....

Yeah that stinks. If i made over 100k id take my money to other lenders. To me , C1 just has too many loops to jump through for their cards or cli. Just mho of course, not bashing them, just a thought. Look for a lender where cli is more easily attainable.

[Anonymous]

To the comments on the scores...

If I’m not mistaken, the score you see on Capital One’s website, through their CreditWise service, is not a FICO score, but a Vantage Score based upon Transunion data.

From my experience, Capital One uses Equifax FICO8 data for CLI decisions.

If I was you, based upon the Equifax FICO8 score they quoted with your denied CLI request, I’d double check your scores/reports. With the data date of barely a month ago, and your surprise at how low it is, you might want to make sure your reports are accurate.

[Anonymous]

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@AverageJoesCredit wrote:
In my town....

Yeah that stinks. If i made over 100k id take my money to other lenders. To me , C1 just has too many loops to jump through for their cards or cli. Just mho of course, not bashing them, just a thought. Look for a lender where cli is more easily attainable.

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In your town?

[Anonymous]

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@Anonymous wrote:
To the comments on the scores...

If I’m not mistaken, the score you see on Capital One’s website, through their CreditWise service, is not a FICO score, but a Vantage Score based upon Transunion data.

From my experience, Capital One uses Equifax FICO8 data for CLI decisions.

If I was you, based upon the Equifax FICO8 score they quoted with your denied CLI request, I’d double check your scores/reports. With the data date of barely a month ago, and your surprise at how low it is, you might want to make sure your reports are accurate.

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Correct, the score in my Cap 1 account is just a Vantage. I was just referencing that to the rep as compared to whatever they were pulling. I pay through Experian for all of my FICO8's. I have live credit monitoring and get my scores daily. It has been 100% correct since I started it last year. Are they not TRUE FICO8's? I've brought my credit up over 150 points over the last 12 months so I am pretty sure this service is giving me true FICO8's. After this, I app'd for a personal loan to verify what my score is since it was a soft pull and sure enough, it came back showing my exact FICO8, not whatever Cap 1 (FICO8) is using.  I've verified my FICO8 (daily) as well as another lender (SoFi).

[Anonymous]

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@AverageJoesCredit wrote:
In my town....

Yeah that stinks. If i made over 100k id take my money to other lenders. To me , C1 just has too many loops to jump through for their cards or cli. Just mho of course, not bashing them, just a thought. Look for a lender where cli is more easily attainable.

What do you mean?  "In my town"? 

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[Anonymous]

My point is that Capital One got the FICO score they quoted from somewhere. I assure you, they didn’t make it up. An Equifax file on that date had that score.

If it were me, I wouldn’t take comfort in a score that a loan preapproval gave me. I’d want to have eyes on a current credit report.

I’m far from a Capital One fanboy, so don’t take my comments as defending them. If I was you, I wouldn’t be chasing the theory that they posted an incorrect score. I’d be chasing what in my file on the date of the pull led to that score.

Anyhow, best of luck to you.

[Anonymous]

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@Anonymous wrote:
My point is that Capital One got the FICO score they quoted from somewhere. I assure you, they didn’t make it up. An Equifax file on that date had that score.

If it were me, I wouldn’t take comfort in a score that a loan preapproval gave me. I’d want to have eyes on a current credit report.

I’m far from a Capital One fanboy, so don’t take my comments as defending them. If I was you, I wouldn’t be chasing the theory that they posted an incorrect score. I’d be chasing what in my file on the date of the pull led to that score.

Anyhow, best of luck to you.

I agee. I definitely understand what you're saying.  I just know my score hasn't been in the 500s anytime recently which is why I am curious what FICO8 (date) they are pulling and why would they pull an old date.  I went back and looked at report 1-1 since I can see the archived daily pulls and it was not 577, it was 675 and now 678.   FICO8 of 577 to 678 (EQ) in 22 days with no changes on my report is interesting.  I monitor my reports pretty much daily, that is why I am so curious.  I guess I'm more frustrated as to why Capital One can't tell me anything outside of  "I will need to contact the credit agency". Thanks for replying.

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[SarahJo]

Just throwing this out there that maybe they are not using the straight EQ Fico 8 for the CLI? Maybe it is a particular version (i.e. Bankcard, auto, yada yada), do you have access to those to cross-check the scores?

[Anonymous]

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@SarahJo wrote:
Just throwing this out there that maybe they are not using the straight EQ Fico 8 for the CLI? Maybe it is a particular version (i.e. Bankcard, auto, yada yada), do you have access to those to cross-check the scores?

Thank you for that idea although I've only ever seen regular FICO8.  I did just check and they are all in the 600's. 

Bankcard FICO8 is actually higher 682, FICO3 is 674 and FICO2 is 672.

AUTO FICO8 is 675 and FICO2 is 669.

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