Synchrony Lowes Decline

[Ramdriver]

Wonder what scoring model they use.

Didn't want to buy anything. Just like running pre-quals

Got the AA letter

[M_Smart007]

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@Ramdriver wrote:

Wonder what scoring model they use.

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TU Vantage 4.0

[FinStar]

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@Ramdriver wrote:

Wonder what scoring model they use.

Didn't want to buy anything. Just like running pre-quals

Got the AA letter

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What did the first page of the letter state as the main reason?  The second page only yields the negative reason codes based on the scoring model they used, which can be VS4 (as mentioned upthread) or TU F8 (in some cases and/or other products)

[SoCalGardener]

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@Ramdriver wrote:

Wonder what scoring model they use.

Didn't want to buy anything. Just like running pre-quals

Got the AA letter

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Are the reasons they listed valid?

[Ramdriver]

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@FinStar wrote:

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What did the first page of the letter state as the main reason?  The second page only yields the negative reason codes based on the scoring model they used, which can be VS4 (as mentioned upthread) or TU F8 (in some cases and/or other products)

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First page read the same . No main reason just the list of four.

[Ramdriver]

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@SoCalGardener wrote:

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Are the reasons they listed valid?

Yep. 

Not complaining just curious as to the model used.

Fico 8 was 652 at the time. The letter listed a 689 so the curiosity.

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[Goos]

Synchrony pretty much uses Vantage score 4.0 and it takes into account your credit card usage on a 6 month average (trended usage ) so does fico 10 . If your score is low for you it's because your balances are going up . That score can swing a 100 points . It is Very volatile . It's also the score they provide with your card online . 

[SUPERSQUID]

To the op,

So i am reading between the lines, you did the prequal and it said you were prequalified and you continued through with the app and got denied?

When i use that prequal it says im prequalified but only gives me an interest rate, i didnt follow with an app.

[Goos]

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@SUPERSQUID wrote:

To the op,

So i am reading between the lines, you did the prequal and it said you were prequalified and you continued through with the app and got denied?

When i use that prequal it says im prequalified but only gives me an interest rate, i didnt follow with an app.

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Synchrony pre-qualified things generate a letter for why you are not pre-qualified . Doesn't matter if you apply or not . They will send you a letter as too why . 

[SUPERSQUID]

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@Goos wrote:

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@SUPERSQUID wrote:

To the op,

So i am reading between the lines, you did the prequal and it said you were prequalified and you continued through with the app and got denied?

When i use that prequal it says im prequalified but only gives me an interest rate, i didnt follow with an app.

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Synchrony pre-qualified things generate a letter for why you are not pre-qualified . Doesn't matter if you apply or not . They will send you a letter as too why . 

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Thank you, i didnt know that.