CreditOne AmEx

[FalconSteve]

I had no intention of actually opening an account with CreditOne (I always thought of them as sub-prime), but someone mentioned them in another thread and I saw they had a pre-qual page and I can't resist a soft pull pre-qual.

They denied me stating that I was denied because of my credit score, then they said it was 792 (300-850, not sure which model they use). I assume they are sensitive to recent (March) new accounts or somethin else and just lying about there reasoning.

If anyone knows which scoring model or which report they use, please share.

[Slabenstein]

Iirc, they use a made-up internal score.  Since they're a subprime outfit, it may be that they don't lend above a certain score, in which case their stated denial reason would be accurate.

[coldfusion]

Just throwing this out here - running a prequal with Credit One tends to lead to their email-bombing you for the next several months.

[FalconSteve]

---

@Slabenstein wrote:

Iirc, they use a made-up internal score.  Since they're a subprime outfit, it may be that they don't lend above a certain score, in which case their stated denial reason would be accurate.

---

I think you may be right, but they also wrote "The information you provided in your application did not score a succient number of points for approval of the application", so the letter was still not accurate.

Oh, well. It doesn't really matter since I had no intention to apply for a 1% cashback card anyway, especially another AmEx.

I hate internal/made up scores, they're so opaque.

Thanks for your response

---

@coldfusion wrote:

Just throwing this out here - running a prequal with Credit One tends to lead to their email-bombing you for the next several months.

---

**bleep** I should have used one of my SPAM emails (I have blackhole accounts for stuff like that), sloppy on my part. Hopefully Gmail will be able to filter them out with a rule or SPAM.

I feel like a n00b, but lirc?

[coldfusion]

---

@FalconSteve wrote:

---

@Slabenstein wrote:

Iirc, they use a made-up internal score.  Since they're a subprime outfit, it may be that they don't lend above a certain score, in which case their stated denial reason would be accurate.

---

I think you may be right, but they also wrote "The information you provided in your application did not score a succient number of points for approval of the application", so the letter was still not accurate.

Oh, well. It doesn't really matter since I had no intention to apply for a 1% cashback card anyway, especially another AmEx.

I hate internal/made up scores, they're so opaque.

Thanks for your response

---

@coldfusion wrote:

Just throwing this out here - running a prequal with Credit One tends to lead to their email-bombing you for the next several months.

---

**bleep** I should have used one of my SPAM emails (I have blackhole accounts for stuff like that), sloppy on my part. Hopefully Gmail will be able to filter them out with a rule or SPAM.

I feel like a n00b, but lirc?

---

You'd probably need to add a custom filter to redirect straight to trash but that's straightforward enough with gmail.  Unfortunately (but understandably) they don't have an option to just reject.

[FinStar]

---

@FalconSteve wrote:

I had no intention of actually opening an account with CreditOne (I always thought of them as sub-prime), but someone mentioned them in another thread and I saw they had a pre-qual page and I can't resist a soft pull pre-qual.

They denied me stating that I was denied because of my credit score, then they said it was 792 (300-850, not sure which model they use). I assume they are sensitive to recent (March) new accounts or somethin else and just lying about there reasoning.

If anyone knows which scoring model or which report they use, please share.

---

Hopefully you'll be able to resist next time 😆

To my understanding, they usually provide a set of reasons besides the score and IIRC they may also pull NexisLexis.  Was score the only reason?  They should've listed the others as well, if anything 🙃

[FalconSteve]

---

@FinStar wrote:

---

Hopefully you'll be able to resist next time 😆

To my understanding, they usually provide a set of reasons besides the score and IIRC they may also pull NexisLexis.  Was score the only reason?  They should've listed the others as well, if anything 🙃

---

I wouldn't count on it (my ability to resist).

They didn't mention LexisNexis in the denial. They did get the four randomnly selected reasons too, but none of those applied to me either (standard fare).

Like I said, it's not really a big deal, my curiosity just got piqued. MyFICO really helps with my curiosity and with generally learning more about the credit game.

[Anonymous]

Just to address part of a comment above about not needing another low reward card "especially an Amex" - to be clear, this card is not in any way an Amex card. It's simply a CreditOne card that they pay Amex to allow it to run on the Amex payment network. It is not affiliated with Amex/Centurion Bank in any way.

[FalconSteve]

---

@Anonymous wrote:

Just to address part of a comment above about not needing another low reward card "especially an Amex" - to be clear, this card is not in any way an Amex card. It's simply a CreditOne card that they pay Amex to allow it to run on the Amex payment network. It is not affiliated with Amex/Centurion Bank in any way.

---

I don't mind AmEx as an issuer, but I already have cards that process as AmEx (AU on wife's AmEx AmEx and Wells Fargo AmEx), but few Visa/MC (for the rare few merchants that don't accept AmEx- or Discover for that matter). I actually impulse applied for AmEx AmEx Cash Magnet about an hour ago (got a $10k SL).

I did actually know the diffference, but thanks for clarifying anyway (if I hadn't known, it would be very useful info)