PayPal Mastercard/Synchrony scoring model used?

[AutisticPretzel]

Can anyone confirm the scoring model used for the PayPal MC? I know there have been ALOT of approvals shared here on the forum, but oddly enough, Ive yet to see one to specify what model Synchrony used outside of it being from TransUnion.

[LADave]

They use VantageScore 4.0, which is not the same as VantageScore 3.0 that Credit Karma and other free credit sites use. I'm not aware of any sources for free (or otherwise) VantageScore 4.0 scores, other than Synchrony's customer site.

If I understand correctly, the biggest difference between VantageScore 4.0 and 3.0 is that the 4.0 model uses trending data, so your reported utilization might have some memory.

[AutisticPretzel]

Thanks so much for this. I figured they did use VS 4.0 but I simply wasn't sure. Every approval post has only listed their FICO scores without specifying anything more. I recently applied for a BMO Harris card and was shocked to see how low my score was on the denial letter when all of my FICO scores are over 700 - I figured the score could only be VS 4.0 lol.

Once again thanks alot!

[LADave]

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@AutisticPretzel wrote:

Thanks so much for this. I figured they did use VS 4.0 but I simply wasn't sure. Every approval post has only listed their FICO scores without specifying anything more. I recently applied for a BMO Harris card and was shocked to see how low my score was on the denial letter when all of my FICO scores are over 700 - I figured the score could only be VS 4.0 lol.

Once again thanks alot!

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It's my pleasure!

VantageScores (both 3 and 4.0) can be very similar or very different from FICO 8 scores. But other FICO scoring models can also give very different results. I don't know which scoring model(s) BMO Harris uses, but the score you saw might be a different FICO score. They might also have their own proprietary scoring model, like Chase does.

[Hex]

NASA Federal Credit Union just started providing Experian VantageScore 4.0 to its members. 

[AutisticPretzel]

As much as I dislike NASA FCU, I appreciate the data point. It seems like some CU's are starting to adapt this scoring model for lending decisions.

Baxter Credit Union, Alliant, BMO Harris, Synchrony & apparently NASA all seem to use this for their lending decisions. I just hope FICO 10T and VS 4.0 doesn't catch on with the more prominent institutions.

Thanks for the tidbit of info. 

[LADave]

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@AutisticPretzel wrote:

As much as I dislike NASA FCU, I appreciate the data point. It seems like some CU's are starting to adapt this scoring model for lending decisions.

Baxter Credit Union, Alliant, BMO Harris, Synchrony & apparently NASA all seem to use this for their lending decisions. I just hope FICO 10T and VS 4.0 doesn't catch on with the more prominent institutions.

Thanks for the tidbit of info. 

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Now that you mention it:

New Mortgage score models accepted by Fannie Mae a... - myFICO® Forums - 6607995

[Hex]

@LADave 

I recognize that post!