Synchrony - Can someone explain the credit scoring system they use?

[Shann0n_marie]

I just found out I was denied again  for the Amazon store card with a TU 656 fico and perfect payment history the last 36+ months, w/ the exception of 1 paid Verizon collection that was over a year ago.

I have not received the denial letter via email yet but I dug up my previous one from when I apped over 2 mos ago, prior to paying off all of my old defaulted debt from 2011.  My UT credit score back then was 615.

In any case, my previous denial letter at that time gave me a 017 credit score out of a high of 999?  I mean REALLY?  How is that possible?  It said they pull TU but there is no way in the WORLD that is even remotely possible.  I didn't even have that bad of credit. 

I can't wait to compare the two denials.  UGHHHHHHHHHHHH, I don't have any Synchrony cards, never burned them & my utility is only at like 6%.

Your Credit Score: 017
Date: 06/15/15
Scores range from a low of 000 to a high of 999.

[Anonymous]

You got me. I think they said mine was 327. I think an angry child wrote their scoring algorithm.

ETA the range on my denial for Wal-Mart was 300-900

[willwar14]

I would like to know also, the last time I requested a CLI with my amazon card, it countered and sent me a reason why they couldn't extent the full requested limit anyways, in the scoring they said my score was a 424 and I was like o_O.

[Anonymous]

Thats rare , when they denied me for others cards appear the normal fico , in that time TU 654 , i never see that type of score. 

[ddemari]

Synch bank uses their own internal credit scoring system. Thats why the score is different. They use info off Your CR but their own scoring algorithm

[Anonymous]

I'm sorry you were denied, but rebuilding takes time and patience. It will happen. Best of luck!!!

[NichelleN]

0 1 7  ??

That seems quite strange. I apped for Walmart, Amazon and Lowe's all in the same day. I was approved for Walmart ahd Amazon but denied the Lowe's. When I posted I was told it was likely due to applying for all 3 so close together. I never went back and applied for Lowe's but recall seeing an odd score when I received the letter in the mail.

Did your letter provide any information other than the score? Were there any reasons given?

[Shann0n_marie]

---

@NichelleN wrote:

0 1 7  ??

That seems quite strange. I apped for Walmart, Amazon and Lowe's all in the same day. I was approved for Walmart ahd Amazon but denied the Lowe's. When I posted I was told it was likely due to applying for all 3 so close together. I never went back and applied for Lowe's but recall seeing an odd score when I received the letter in the mail.

Did your letter provide any information other than the score? Were there any reasons given?

---

I'm still waiting for the current letter.    But yes, that is my point exactly.    017 credit score?  How is that possible... obviously there is some sort of error?

[Pway]

---

@ddemari wrote:
Synch bank uses their own internal credit scoring system. Thats why the score is different. They use info off Your CR but their own scoring algorithm

---

Yes Sync uses their own scoring model.  They are strange.  When they denied me I had to go and look at my real scores. 

[ddemari]

When I applied for Synch brooks brothers several months ago. My TU fico was 720's. I was declined and this was the information they gave me from the email. 

Information about your Credit Score used in this evaluation for credit In addition, we also obtained an external credit score from the consumer reporting agency indicated above and used it in making our credit decision. If more than one agency is listed, the credit score was obtained from the first listed agency. Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes. The credit score below was developed using standard industry methods and was used to evaluate your application. The credit score may differ from the score you obtain from a consumer reporting agency.

Your Credit Score:109

Date: 05/09/15 Scores range from a low of 000 to a high of 999.

Key factors that adversely affected your credit score:

SINCERELY, CREDIT MANAGER Synchrony Bank P.O. BOX 965002 ORLANDO, FL 32896-5002

TOO MANY REVOLVING ACCTS W/BALANCES TOO HIGH COMPARED TO CREDIT LIMIT

NOT ENOUGH DEBT EXPERIENCE

TOO MANY SERIOUS DELINQUENCIES

TOO FEW PREMIUM BANKCARD ACCOUNTS

NUMBER OF INQUIRIES ON CREDIT REPOR