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So is it possible that the Amex FICO score you received is a credit card enhanced score or something like that? Or maybe it's from a different period than what's currently shown on your PSECU account, thus the different scores???? If it's not a true FICO score, I wouldn't consider wasting an inquiry to find out that score. But from the letter you shared, looks like a FICO score. Weird is right.
ALTHOUGH my PSECU FICO scores hasn't changed in 4 months, so I think something might be fishy there.
I am more inclined to trust Amex's FICO score though.
But you are right, maybe it is a CC enhanced score.
@jthedges wrote:
@kjm79 wrote:I'm itching to apply just to find out what my EX FICO score is! Hmmmmm.
Which is funny, because I am in PSECU, and the FICO they are giving me is NOT the same as what Amex said in my letter.
Weird.
What's really confusing is that we've always understood (and this has been confirmed by forums members who worked for AmEx) that they don't use FICO's, at least on initial application. They use a home-grown version instead.
If so, I don't know why they'd pay (FICO's aren't free for lenders, either) for a FICO for a CLI request, while using their in-house version elsewhere. Yet the copy/ pasted message definitely says FICO.
I wonder if they're using a FICO 08?
@haulingthescoreup wrote:
@jthedges wrote:
@kjm79 wrote:I'm itching to apply just to find out what my EX FICO score is! Hmmmmm.
Which is funny, because I am in PSECU, and the FICO they are giving me is NOT the same as what Amex said in my letter.
Weird.
What's really confusing is that we've always understood (and this has been confirmed by forums members who worked for AmEx) that they don't use FICO's, at least on initial application. They use a home-grown version instead.
If so, I don't know why they'd pay (FICO's aren't free for lenders, either) for a FICO for a CLI request, while using their in-house version elsewhere. Yet the copy/ pasted message definitely says FICO.
I wonder if they're using a FICO 08?
I would call them and ask but I don't have 6 hours to spare lol.
Sooooooo, because my curiosity was so strong and because of the limited options to obtain an EX Fico, I bit the bullet and app'd for an Amex card. I knew with a BK I'd be denied, so to see that didn't surprise me. It gave the decision letter right then and there and here's what it said:
Dear kjm79,
Thank you for your recent application for Zync SM from American Express. We do value your desire to establish a relationship with us. We regret that we are unable to approve your request.
Reason(s) for Our Decision
Information received from Experian Consumer Reporting Agency (See below)
The factors provided by the consumer reporting agency that affected our decision are:
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Bankruptcy |
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|
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Your Right to Get Your Credit Report
Our decision was based in whole or in part on information obtained in a report from each consumer reporting agency in this letter. Please know that the consumer reporting agency played no part in our decision and cannot supply you with the specific reasons for our decision. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. It can be obtained by contacting them directly. You also have a right to a free copy of your report from the consumer reporting agency if you request it within 60 days after you receive this notice. If you find that any information contained in the consumer report you receive is inaccurate or incomplete, you have the right to dispute the matter directly with the reporting agency.
So it lists the factor as the BK but provides NO SCORE. Grrrr! Anyone looking to app just to get your score, DON'T!! Just a wasted inquiry, got 3 on EX now. For existing cutomers it may give scores but not for wanna be customers. Unless the score wasn't a factor and it was just the BK?? Ughhh!!! How frustrating. Can't we just have access to our scores for crying out loud????!!!!
There might be a difference between scores used for initial apps, versus scores used for CLI requests, which is the topic of this thread.
@haulingthescoreup wrote:
@jthedges wrote:
@kjm79 wrote:I'm itching to apply just to find out what my EX FICO score is! Hmmmmm.
Which is funny, because I am in PSECU, and the FICO they are giving me is NOT the same as what Amex said in my letter.
Weird.
What's really confusing is that we've always understood (and this has been confirmed by forums members who worked for AmEx) that they don't use FICO's, at least on initial application. They use a home-grown version instead.
If so, I don't know why they'd pay (FICO's aren't free for lenders, either) for a FICO for a CLI request, while using their in-house version elsewhere. Yet the copy/ pasted message definitely says FICO.
I wonder if they're using a FICO 08?
Maybe they just started obtaining FICO's for the sole purpose of complying with the Credit Card Act.
Didn't the new Credit Card Act state that lenders must now provide a score along with their denial reasons or approvals with unfavorable rates or somewhere along those lines?
@ficonightmare wrote:
@KingAdrock wrote:Wait a tic... I thought Amex didn't use FICO scores. They've always claimed they use their own scoring system.
They do. I don't get why they pull reports either. When I apped for ZYNC last December, they pulled EX. I had three baddies on my report and they approved me anyway. Go figure. Their approval/denial process doesn't seem to make any sense.
They don't make sense at all. I had a Corporate card with them years ago when I was in BK. Now I'm out of the BK and they just refuse to give me a card even with no negatives, only because of some BS information in Teletrack which I don't even recognize for $700. Yet others who actually have derogs get approved.
I'm convinced that American Express discriminates based on other factors, such as location.
I had printed the letter and went back and re-read it. The score isn't in there any where. When I didn't see the score yesterday I started doing a little research and effective July 21, 2011 lenders who deny credit or take an adverse action must provide a credit score dislcosure which includes the FICO score they used in evaluating your application or account.