American Express, bogus Fico scores

[Anonymous]

Where are they getting their number from?

Look at the following and tell me... it clearly shows on Myfico my scores are TU 672 EQ 678 and my experian fako is 714.

http://www.mediafire.com/download.php?q8g16519uvc1wdw

Letter says:

Thank you for your recent application for Blue Cash Everyday., We do value your desire to establish a relationship with us. We regret that we are unable to approve your request. Reason for our Decision: Your Fico Score (see below)

On July 27th, 2011, your FICO Score was 646. The fico score ranges from 300-850.

[emptypockets]

The EX score you quote is a FAKO which may be cimpletely different from a real EX score. AMEX pulls a real EX FICO, and this is likely what they disclosed in the denial.

[Anonymous]

your EX fico

[MarineVietVet]

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@Anonymous wrote:

Where are they getting their number from?

Look at the following and tell me... it clearly shows on Myfico my scores are TU 672 EQ 678 and my experian fako is 714.

http://www.mediafire.com/download.php?q8g16519uvc1wdw

Letter says:

Thank you for your recent application for Blue Cash Everyday., We do value your desire to establish a relationship with us. We regret that we are unable to approve your request. Reason for our Decision: Your Fico Score (see below)

On July 27th, 2011, your FICO Score was 646. The fico score ranges from 300-850.

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Hi sarakay564 and welcome to the Forums.

I agree that the score Amex sent you is a true EX FICO score. I'm not sure where you get your EX (FAKO) score but it's often what is called a "Plus" score and it's not even used by lenders. It looks like you were aware it was a FAKO before you applied ( which is a good thing and something many people don't realize) and now you can also see how unreliable FAKO scores are and why they should always be ignored.. In your case your actual EX FICO was 68 points less than the EX FAKO.

The only good thing out of this is you now have all three accurate FICO scores.

A recon might be in order here but I'll let others advise you on that. Good luck to you and let us know if you decide to do that recon and what the results are.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[tntexans72]

Most lenders will look at Fico scores but Amex does not. They look at "Plus" score to approved the applications. No need for alarm. Barclays on the other hand will look at your TU score - whether that is Fico or Vantage score, I can't confirm. But not all Lenders will look at your Fico score...only most. IMHO..EX Plus score are pretty on the dot too. It's all relative.....

[haulingthescoreup]

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@tntexans72 wrote:

Most lenders will look at Fico scores but Amex does not. They look at "Plus" score to approved the applications. No need for alarm. Barclays on the other hand will look at your TU score - whether that is Fico or Vantage score, I can't confirm. But not all Lenders will look at your Fico score...only most. IMHO..EX Plus score are pretty on the dot too. It's all relative.....

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I don't think that AmEx has ever used a PLUS score. I had always read that they use a score generated by their own in-house formula.

But others have started posting that when denied, they're being given their EX FICO score.

OP, your MediaFire link that presumably shows your letter doesn't open here. Or at any rate, I can't view it. Can you look at the letter and see if there's any fine print anywhere that states what type of score was used?

[GregB]

Amex has always used an EX FICO for me. When I was dealing with them trying to remove the CLD on my business and personal accounts they would only talk about a CRA report from EX that had a FICO Score on it. At one point they rejected CRs for discussion from EX with a Plus Score and also rejected EQ and TU FICO reports from here. I paid for an EX FICO here and sent it to them with notes on it. Not that it did any good.............

EX acknowledges on their website that NO LENDER uses a Plus Score for approvals.

ETA: It might also be interesting to note that Amex has never done a Soft Inquiry with EQ or TU. They soft EX about every two months for my business and personal accounts.

[Walt_K]

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@haulingthescoreup wrote:

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@tntexans72 wrote:

Most lenders will look at Fico scores but Amex does not. They look at "Plus" score to approved the applications. No need for alarm. Barclays on the other hand will look at your TU score - whether that is Fico or Vantage score, I can't confirm. But not all Lenders will look at your Fico score...only most. IMHO..EX Plus score are pretty on the dot too. It's all relative.....

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I don't think that AmEx has ever used a PLUS score. I had always read that they use a score generated by their own in-house formula.

But others have started posting that when denied, they're being given their EX FICO score.

OP, your MediaFire link that presumably shows your letter doesn't open here. Or at any rate, I can't view it. Can you look at the letter and see if there's any fine print anywhere that states what type of score was used?

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This often gets presented as a mutually exclusive option (I'm not saying you do that HTSU, I just see it a lot).  Amex very well could use its own scoring formula.  And one of the factors they weigh in their analysis could be your EX FICO.  So them saying that you were denied because your EX FICO was too low is just them listing one reason they denied you.  It doesn't mean they don't have an internal scoring model.

[haulingthescoreup]

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@Walt_K wrote:

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@haulingthescoreup wrote:

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@tntexans72 wrote:

Most lenders will look at Fico scores but Amex does not. They look at "Plus" score to approved the applications. No need for alarm. Barclays on the other hand will look at your TU score - whether that is Fico or Vantage score, I can't confirm. But not all Lenders will look at your Fico score...only most. IMHO..EX Plus score are pretty on the dot too. It's all relative.....

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I don't think that AmEx has ever used a PLUS score. I had always read that they use a score generated by their own in-house formula.

But others have started posting that when denied, they're being given their EX FICO score.

OP, your MediaFire link that presumably shows your letter doesn't open here. Or at any rate, I can't view it. Can you look at the letter and see if there's any fine print anywhere that states what type of score was used?

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This often gets presented as a mutually exclusive option (I'm not saying you do that HTSU, I just see it a lot).  Amex very well could use its own scoring formula.  And one of the factors they weigh in their analysis could be your EX FICO.  So them saying that you were denied because your EX FICO was too low is just them listing one reason they denied you.  It doesn't mean they don't have an internal scoring model.

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A very good point!

[MarineVietVet]

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haulingthescoreup wrote:

I don't think that AmEx has ever used a PLUS score. I had always read that they use a score generated by their own in-house formula.

But others have started posting that when denied, they're being given their EX FICO score.

OP, your MediaFire link that presumably shows your letter doesn't open here. Or at any rate, I can't view it. Can you look at the letter and see if there's any fine print anywhere that states what type of score was used?

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I got it to open and here is a picture. It definitely says EX FICO score.

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