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So I've had my wonderful CreditOne card with my whopping 800 CL for just over a year now (14 months). Terminating soon! During that time THEIR version of my FICO has gone from about 635 to 654 with no changes on my report in 6 months. Maybe a few inquiries fell off from 2 years ago, but that's about it and this shouldn't have effected my score anyways. Anyways, all of a sudden this last CreditOne Dec. report skyrockets to 724. Even my real FICO TU is only 704.
Anyone of of you hard core credit geeks want to take a wild stab at this one? THANKS!
What verison of tu does credit one use? The one on here is tu 98
Not sure. All I know, regardless of which version of scoring they use, a sudden 60 or 70 point increase in your score is pretty unusual... especially given no dramtic change in utilization or anything else of relative importance.
Depending on the shift and which version was used, also consider rebucketing factors.
AFAIK, it's a FAKO. They're rather optimistically giving me a 698 for December.
I thought it was an Experian score that is given? So it is a TU fako?
@anca21bi wrote:I thought it was an Experian score that is given? So it is a TU fako?
Credit One Bank uses EXPERIAN to obtain your credit information. However, it is some type of FAKO Credit Score since their scores range from a low of 350 (instead of 300) to a high of 850.
@BackInTheSaddleAgain wrote:So I've had my wonderful CreditOne card with my whopping 800 CL for just over a year now (14 months). Terminating soon! During that time THEIR version of my FICO has gone from about 635 to 654 with no changes on my report in 6 months. Maybe a few inquiries fell off from 2 years ago, but that's about it and this shouldn't have effected my score anyways. Anyways, all of a sudden this last CreditOne Dec. report skyrockets to 724. Even my real FICO TU is only 704.
Anyone of of you hard core credit geeks want to take a wild stab at this one? THANKS!
Based on your score, why do you still have a CreditOne Card? Go get you a nice AMEX Card
BK in 2007. AmEx not BK friendly. Will probably give it a try this summer as I hit the 7 year mark. However, although I have decent credit scores now with 5+ years of perfect payment history, my scores don't tell the whole credit story to lenders. I also still have large unpaid business tax liens from 2007 that I am apparently responsible for and will NEVER be able to pay. Bit of a credit rebuilding quandary wouldn't you say?
@BackInTheSaddleAgain wrote:BK in 2007. AmEx not BK friendly. Will probably give it a try this summer as I hit the 7 year mark. However, although I have decent credit scores now with 5+ years of perfect payment history, my scores don't tell the whole credit story to lenders. I also still have large unpaid business tax liens from 2007 that I am apparently responsible for and will NEVER be able to pay. Bit of a credit rebuilding quandary wouldn't you say?
Yea, that's definitely hard to get approval for AMEX. You would've had a chance with the BK close to 7 years but the unpaid lien is the killer here. I have seen people in the forums complain about small unpaid tax liens being the reason for the denial of a CC.