US Bank CLI system denial "TransUnion Rapid Default Model Version 1"

[OCONUS]

It has been 6 months since I opened the US Bank Cash Plus card. I decided to request CLI and it was instant denial. Later I recieved a notification asking me to log in and read a document. The document refers to a "TransUnion Rapid Default Model Version 1" that they used. The system docked my score 30% lower than the actual FICO.

a- Too many bankcard opened recently (4/6)

b- Too many inq

Never heard of it before but I thought I should share. 

[pizzadude]

TU and the other CRAs all have their own customized ( Non-FICO ) scores which they sell to creditors.   Haven't heard of this one either but they're coming up with new ones all the time.

[GreatLife]

Perhaps some helpful details in this 2019 article:

https://www.globenewswire.com/news-release/2019/05/06/1817421/0/en/As-Financial-Institutions-Face-Gr...

[SouthJamaica]

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@GreatLife wrote:

Perhaps some helpful details in this 2019 article:

https://www.globenewswire.com/news-release/2019/05/06/1817421/0/en/As-Financial-Institutions-Face-Gr...

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Fascinating article. I would imagine that many MyFICO forum participants, myself included, might run afoul of those algorithms, since many of us exhibit greater credit-seeking propensities than is typical. E.g., utilization padding, SUB-chasing, and just plain seeking out new or better credit products are things which might just trigger that kind of scrutiny.

[CorpCrMgr1]

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@OCONUS wrote:

It has been 6 months since I opened the US Bank Cash Plus card. I decided to request CLI and it was instant denial. Later I recieved a notification asking me to log in and read a document. The document refers to a "TransUnion Rapid Default Model Version 1" that they used. The system docked my score 30% lower than the actual FICO.

a- Too many bankcard opened recently (4/6)

b- Too many inq

Never heard of it before but I thought I should share. 

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@OCONUS wrote:

It has been 6 months since I opened the US Bank Cash Plus card. I decided to request CLI and it was instant denial. Later I recieved a notification asking me to log in and read a document. The document refers to a "TransUnion Rapid Default Model Version 1" that they used. The system docked my score 30% lower than the actual FICO.

a- Too many bankcard opened recently (4/6)

b- Too many inq

Never heard of it before but I thought I should share. 

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Thank you for sharing.

[Centurion_Dreamer]

I have the same issue with US Bank. Can't get a CLI for my Shopper Cash Rewards Card.

[youngandcreditwrthy]

I dont like these new weird scores and reports that we dont have access to. so much of the info is wrong. there's also transunion's sage stream and Lexis nexis (which has been around forever). Having federally mandated access to just three of our major reports is literally the least protection we could have.

[Zosimus]

I mean, it's just too easy to max out all your cards to buy Bitcoin, move to El Salvador, and live like a king for 7 years, buy a bunch of rental property, then move back to the USA with a clean slate and do it all over again.

[markbeiser]

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@Zosimus wrote:

I mean, it's just too easy to max out all your cards to buy Bitcoin, move to El Salvador, and live like a king for 7 years, buy a bunch of rental property, then move back to the USA with a clean slate and do it all over again.

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Hmm, I had not thought of this before, perhaps I should rethink my retirement plan.🤔
I mean, not the El Salvador part.🙃

[OCONUS]

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@Zosimus wrote:

I mean, it's just too easy to max out all your cards to buy Bitcoin, move to El Salvador, and live like a king for 7 years, buy a bunch of rental property, then move back to the USA with a clean slate and do it all over again.

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May be Dubai or Qatar would be nice to move,or even new Saudi NEOM project LOL. El Salvador is too risky after all this effort and research of building credit.