CSP approval with 611 EQ score!?

Anonymous · ‎03-10-2016

Hi, everyone.

So I applied for the Chase Sapphire Preferred and was given the 7-10 day message via the phone status line. I waited a few days and decided to call the backdoor number to check on the status of the app, the representative told me that the app was denied due to too many recent inquiries. I asked her to reconsider and after putting me on hold for about 2 mins she came back on the line and said that she found enough positives on my credit report to push the recon through but that she'd have to pass me to another representative to confirm some info with me before they could approve it. Anyway, I was ultimately approved for $5k starting line.

Yesterday I received the denial letter that they sent prior to the recon approval and it states that my credit score they pulled through Equifax is 611! But according to myfico my scores are 690 across the board. Does anyone know why or how they got 611? It just seems so far off.

Creditplz · ‎03-10-2016

I've always read that they score you based on their Internal Scoring methods, can't tell you this is true or not, but just some food for thought.

Anonymous · ‎03-10-2016

@Creditplz wrote:
I've always read that they score you based on their Internal Scoring methods, can't tell you this is true or not, but just some food for thought.

Ok, that could be it. My Freedom is at 40% utilization so that would make sense.

myjourney · ‎03-12-2016

@Creditplz wrote:
I've always read that they score you based on their Internal Scoring methods, can't tell you this is true or not, but just some food for thought.

Correct bravo

Although Chase pulls a Fico score that score is feed into their own algorithm to come up with an internal score

I don't know of any lender that just relies on scores along but a healthy profile will prevail every time

Congrats OP on a successful recon

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎03-12-2016

They call it a CARS score, but even at that getting approved with a 611 is amazing!

Anonymous · ‎03-12-2016

This gives me hope that I'll be able to get in with a Freedom + Unlimited in a couple of months. Their prequals still come up with nothing

Anonymous · ‎03-13-2016

@myjourney wrote:
@Creditplz wrote:
I've always read that they score you based on their Internal Scoring methods, can't tell you this is true or not, but just some food for thought.
@Creditplz wrote:
I've always read that they score you based on their Internal Scoring methods, can't tell you this is true or not, but just some food for thought.
Correct bravo

Although Chase pulls a Fico score that score is feed into their own algorithm to come up with an internal score
I don't know of any lender that just relies on scores along but a healthy profile will prevail every time

Congrats OP on a successful recon

Thank you!

Anonymous · ‎03-13-2016

@Anonymous wrote:
They call it a CARS score, but even at that getting approved with a 611 is amazing!

Righ?! And when I logged in to my account I noticed that they also gave me an automatic credit line increase on my Freedom card so that was a nice surprise.

Loquat · ‎03-13-2016

@Anonymous wrote:

Righ?! And when I logged in to my account I noticed that they also gave me an automatic credit line increase on my Freedom card so that was a nice surprise.

Score and score! Congrats on the approval and the CLI!

Anonymous · ‎03-13-2016

congrats!! you're making me overly antsy to apply but I need to wait a few more months