Last month, I checked to see if I was "prequalified" without HP and impact to credit score for a Verizon VISA.
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This is my credit profile:
*Open Credit Cards*
-Chase Sapphire Preferred: 24.5K CL <Started @16K SL; Opened: 02/10/2016>
-AMEX Blue Cash Everyday: 9K CL --> 27.9K CL After Transfer from EDP <Started @1K SL; Opened: 02/22/2016>
-AMEX Everyday Preferred --> Everyday (Product Change): 20.9K CL --> 2K CL After Transfer to BCE <Started @ 6K SL; Opened: 03/31/2016>
-Capital One QuickSilver: 5K CL <Started as Venture @15K SL, then PC'ed to QuickSilver, then CLD to 5K; Opened: 09/11/2016>
-Discover IT Miles: 5K CL <Started as Discover (5% Rotating One) @ 4K SL, PC'ed by Discover, not me; Opened: 11/13/2016>
-Apple Card: 6.5K CL <Started @6K SL, Got a $500 CLI a few weeks ago; Opened: 09/30/2021>
-Wells Fargo Reflect: 7.5K CL <Just Approved Last Week and Received the Card a Couple of Days ago; Not Reporting Yet>
*Open Installment Loan*
-Bank of America: 15K 72-Month Loan 83% Paid Off Due to End in January of Next Year <Opened: 12/31/2017>
-Average Age of Accounts: 7 Years <Before the Most Recent WF>
-Age of Oldest Accounts: 7 Years <Before the Most Recent WF>
-Utilization: 21% <Before the Most Recent WF>
-Income: 85K
-Rent: $850
-New Accounts Opened in the Past 24 Months: 2 (Apple Card in October of 2021, and the WF Last Week)
*Inquiries in the Last 24 Months*
-Experian: 1 (BofA BankAmericard that I Chose Not to Proceed Further With SSA-89/POI Request After WF Approval; Don't need 2 BT Cards)
-Equifax: 0
-TransUnion: 1 (WF Reflect)
*FICO8 As of 02/26/2023*
-Experian: 775
-Equifax: 784
-TransUnion: 780
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This is the response I got from Synchrony:
After seeing this, I requested a "Consumer Disclosure Report" from LexisNexis on their website, and it contained SageStream Disclosure Report towards the end of the document. When I checked that, I was puzzled and surprised to find that SageStream listed NONE of my accounts either open or closed, with NO information such as date opened, account balances, credit limit, etc. All it contained were my name, address, phone numbers, SSN, and.... ONE inquiry from back in September of 2021 for my Apple Card application with Goldman Sachs. That was all!
So how in the bleeping hell does Synchrony tell me that:
1. my revolving balance is too high in relation to credit limits
2. I have too few retail accounts....
when this SageStream does NOT even report ANY accounts at all?
Days since most recent inquiry is TOO SHORT?? The ONE inquiry showing is from September of 2021. If that is too short, I don't know what is acceptable?
And what now? Limited history of applicant at phone number? What is this nonsense?
Did they even check the right report?
I am seriously puzzled and confused. I had my 3 "major" CRAs FROZEN when I checked for "prequalification" and I have NEVER applied for nor held any Synchrony products before. How did they come up with all those reasons when they had access to view ONLY SageStream, which does not even contain any detailed information about my accounts other than ONE inquiry from 09/2021, which Synchrony thinks is too short of a time frame?
If someone can educate me on this, I'd greatly appreciate it. I am wanting to apply for AAA Daily or Travel Advantage card, and I heard Comenity also pulls SageStream, so I want to make sure nothing funky is going on.
Btw, Synchrony said my credit score with SageStream is 656, with additional remarks claiming my inquiries have impacted negatively on my scoring. Huh??
@Absolution16 wrote:Last month, I checked to see if I was "prequalified" without HP and impact to credit score for a Verizon VISA.
----------
This is my credit profile:
*Open Credit Cards*
-Chase Sapphire Preferred: 24.5K CL <Started @16K SL; Opened: 02/10/2016>
-AMEX Blue Cash Everyday: 9K CL --> 27.9K CL After Transfer from EDP <Started @1K SL; Opened: 02/22/2016>
-AMEX Everyday Preferred --> Everyday (Product Change): 20.9K CL --> 2K CL After Transfer to BCE <Started @ 6K SL; Opened: 03/31/2016>
-Capital One QuickSilver: 5K CL <Started as Venture @15K SL, then PC'ed to QuickSilver, then CLD to 5K; Opened: 09/11/2016>
-Discover IT Miles: 5K CL <Started as Discover (5% Rotating One) @ 4K SL, PC'ed by Discover, not me; Opened: 11/13/2016>
-Apple Card: 6.5K CL <Started @6K SL, Got a $500 CLI a few weeks ago; Opened: 09/30/2021>
-Wells Fargo Reflect: 7.5K CL <Just Approved Last Week and Received the Card a Couple of Days ago; Not Reporting Yet>
*Open Installment Loan*
-Bank of America: 15K 72-Month Loan 83% Paid Off Due to End in January of Next Year <Opened: 12/31/2017>
-Average Age of Accounts: 7 Years <Before the Most Recent WF>
-Age of Oldest Accounts: 7 Years <Before the Most Recent WF>
-Utilization: 21% <Before the Most Recent WF>
-Income: 85K
-Rent: $850
-New Accounts Opened in the Past 24 Months: 2 (Apple Card in October of 2021, and the WF Last Week)
*Inquiries in the Last 24 Months*
-Experian: 1 (BofA BankAmericard that I Chose Not to Proceed Further With SSA-9/POI Request After WF Approval; Don't need 2 BT Cards)
-Equifax: 0
-TransUnion: 1 (WF Reflect)
*FICO8 As of 02/26/2023*
-Experian: 775
-Equifax: 784
-TransUnion: 780
----------
This is the response I got from Synchrony:
After seeing this, I requested a "Consumer Disclosure Report" from LexisNexis on their website, and it contained SageStream Disclosure Report towards the end of the document. When I checked that, I was puzzled and surprised to find that SageStream listed NONE of my accounts either open or closed, with NO information such as date opened, account balances, credit limit, etc. All it contained were my name, address, phone numbers, SSN, and.... ONE inquiry from back in September of 2021 for my Apple Card application with Goldman Sachs. That was all!
So how in the bleeping hell does Synchrony tell me that:
1. my revolving balance is too high in relation to credit limits
2. I have too few retail accounts....
when this SageStream does NOT even report ANY accounts at all?
Days since most recent inquiry is TOO SHORT?? The ONE inquiry showing is from September of 2021. If that is too short, I don't know what is acceptable?
And what now? Limited history of applicant at phone number? What is this nonsense?
Did they even check the right report?
I am seriously puzzled and confused. I had my 3 "major" CRAs FROZEN when I checked for "prequalification" and I have NEVER applied for nor held any Synchrony products before. How did they come up with all those reasons when they had access to view ONLY SageStream, which does not even contain any detailed information about my accounts other than ONE inquiry from 09/2021, which Synchrony thinks is too short of a time frame?
If someone can educate me on this, I'd greatly appreciate it. I am wanting to apply for AAA Daily or Travel Advantage card, and I heard Comenity also pulls SageStream, so I want to make sure nothing funky is going on.
Btw, Synchrony said my credit score with SageStream is 656, with additional remarks claiming my inquiries have impacted negatively on my scoring. Huh??
I recently reviewed my Sagestream report and it had no credit records at all.
Why did you apply with Verizon if your credit reports were frozen?
I can't speak to what's going on with that SageStream language but you'll need to thaw your reports before trying as they state below.
Good luck!
@Absolution16 wrote:
Before I had "opted out" of marketing to eliminate junk offers in the mail, I did get some offers sent to me from Synchrony, so I figured, mistakenly, that they would be able to SP me for a PRE-QUALIFY without my "major" CRAs being unfrozen.
The issue is NOT about my "major" CRA reports being frozen. The issue is that Synchrony only pulled info from SageStream, which contained virtually ZERO information in regards to my credit profile other than ONE inquiry from September 2021, and then came up with all those reasons which don't make any sense at all.
If frozen credit reports were the main issue, then THAT should have been their "reasoning behind their decision" and NOT some bunch of bogus reasons. I didn't do the ACTUAL application so it cost me no harm in terms of HP, but it still makes me ponder why those "reasons" were listed, as well as the validity of that "credit score" they came up with, when SageStream had virtually NOTHING to really even make up a score.
I will temporarily unfreeze my major CRAs if I feel like trying again their PRE-QUALIFY tool. Thank you.
Yeah I'm not sure what report they used to cite those reasons. Regardless, even with reports thawed, it's still a SP for preapproval.
If approved, you'll get your limit amount, and then the option to continue with the applicattion (which will then result in HP), or just click no thank you and freeze your reports again.
IF the preapproval STILL gets denied with thawed reports, maybe the new AA letter will have more accurate reasons.
@Absolution16 wrote:
Before I had "opted out" of marketing to eliminate junk offers in the mail, I did get some offers sent to me from Synchrony, so I figured, mistakenly, that they would be able to SP me for a PRE-QUALIFY without my "major" CRAs being unfrozen.
The issue is NOT about my "major" CRA reports being frozen. The issue is that Synchrony only pulled info from SageStream, which contained virtually ZERO information in regards to my credit profile other than ONE inquiry from September 2021, and then came up with all those reasons which don't make any sense at all.
If frozen credit reports were the main issue, then THAT should have been their "reasoning behind their decision" and NOT some bunch of bogus reasons. I didn't do the ACTUAL application so it cost me no harm in terms of HP, but it still makes me ponder why those "reasons" were listed, as well as the validity of that "credit score" they came up with, when SageStream had virtually NOTHING to really even make up a score.
I will temporarily unfreeze my major CRAs if I feel like trying again their PRE-QUALIFY tool. Thank you.
Of course the letter is a confused mess. Most likely they got the credit information from a prior soft or hard pull; they certainly didn't get it from Sagestream.