Credit One Bank - FICO scoring?

[haulingthescoreup]

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@Anonymous wrote:

Well it almost definately is a Fico score.  I was just approved for an Amex premier rewards card. A 710 score is posted on my credit one account and everyone knows Amex wont approve you with much less then a 700.

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Well, AmEx doesn't use FICO scores. They pull an Experian report, but they have their own home-grown scoring formula. And there have been posts here by those approved for charge cards with known FICO's in the high 600's.

Interesting, but not yet proven...

And congrats on the new card!

[Bill292]

Well, the only way they are ever getting another af out of me is if somehow I am satisfied that this is a true fico. It is just amazing to me the way these people run their businesses'. Two large companies and neither can tell us for sure what score model they are using. What a joke. Guess I'll call credit one and see if I can find a rep that cares enough to find out for sure.

[Creditaddict]

I would be shocked if little o rebuilder card CreditOne is offering a true fico score.  I mean Alliant CU pulls EQ but yet the score they give you for free is an advantage EX, wouldn't it make more since to give you the score they use. and they also don't use a fico EQ.

[Anonymous]

Well, I can say that there is some very compelling evidence to suggest Credit One provides a true FICO score, at least from my perspective.

For example, from what I can find, consumer-available Experian scores nearly all fall into two categories: PLUS or Vantage scores. Since I'm currently purchasing a home, I have had access to my real FICO scores from Experian through my loan officer, as well as my PLUS/Vantage scores, and this is what I've found:

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July 2010:

PLUS Score (Via USAA) on JUL 26: 574

Vantage Score (Via TrueCredit):Unknown

Credit One Score on JUL 1:  626

Credit One Score on AUG 1: 622

Loan Officer Pull on JUL 26: 626

I don't have the Vantage score, but it looks like the score pulled by my loan officer and Credit One are extremely close. The reason for the drop between July 1 and August 1 is likely the hit from the Inquiry or perhaps an updated baddie that I had disputed. Regardless, the difference is 4 points lost around the time the LO pulled my credit. My PLUS score isn't even close.

September 2010:

PLUS Score (Via USAA) on SEP 7: 597

Vantage Score (Via TrueCredit) on SEP 7: 692

Credit One Score on SEP 1: 644

Loan Officer Pull on SEP 7: 649

Here, the score is only 5 points off in the course of about a week. The reason for this change is two credit cards reported good balances and the utilization dropped to 7% on September 2. Vantage and PLUS scores are again very far off the mark.

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In any case, perhaps this isn't conclusive proof that they're FICO scores, but to me it's extremely strong evidence when the scores are so close and activity in the weeks around the dates the scores were pulled could very easily account for the few points difference. To me, this is extremely strong evidence, unless someone has an idea of what scoring method that Credit One might use otherwise? Keep in mind that the Credit One credit score page's URL is "https://www.creditonebank.com/FICOData.aspx".

[Bill292]

Your right bstaaden, not proof, but some strong evidence. Hopefully we will get some more evidence to go with it.

[Anonymous]

If it is a true Fico score it is definatley worth paying their high yearly fee that is billed out over the course of the  twelve months you have the card.  To get a free Experian score  by paying 9.25 a month is definately worth having. Hauling that is why I said much less then a 700 score.  I have not seen many people on whogavemecredit get approved with a score below 680 other than maybe the Zync card on occasion.

[Anonymous]

Hi I am new here I can tell you all this I don'tknow what score they use but it is 35 points off from my fico.com score So I don't Know.

All these credit places have such different scores it very confusing and amazing to me how they can be so much difference in them.

[LS2982]

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@Anonymous wrote:

I apologize if this is the wrong forum for this sort of question, but I recently opened up a Credit One Bank credit card. They provide a credit score online once a month. It looks like this might actually be a FICO score!

It looks quite possible since I had my credit pulled by a lender and it showed a score of 626, which is exactly the score that Credit One shows me for Experian. On Experian's website (PLUS score?), I have a 593. If this is an actual Experian FICO score, it would be very exciting. Thoughts?

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I don't believe this isan EX FICO. The past 4 months my PSECU EX FICO has not been the same as the one Credit One produces.

[LS2982]

Actually I can say with no doubt that Credit One's score is NOT a FICO score. there's a 64 point difference from my PSECU FICO and their score. same file data. Not possible.

[soccrstar]

For me... Credit one Bank Score and PSECU score are exactly the same!

Credit One Bank

Your credit score: 549
Date: 08/07/2013
Scores range from a low of 350 to a high of 850

PSECU

As of August 3, 2013 Your Experian FICO ® score is: 549