Does all CCC give you your FICO if.....

[pizzadude]

-----> The answer to your first question is yes and no, the CCC's are required to provide you with your FICO score if you are not offered their best terms (outlined below in the Dodd-Frank Act)

I believe that they do NOT have to give you a FICO score, but they do have to provide the score that they uesd to evaluate your creditworthiness.   Many CCs are using Non~FICO scores and provide a FAKO score to you when you are denied/counter~offered.   The only way to know sometimes is to call and ask them, or to look at the range of possible scores that comes with the score.

[john398]

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@pizzadude wrote:

-----> The answer to your first question is yes and no, the CCC's are required to provide you with your FICO score if you are not offered their best terms (outlined below in the Dodd-Frank Act)

I believe that they do NOT have to give you a FICO score, but they do have to provide the score that they uesd to evaluate your creditworthiness.   Many CCs are using Non~FICO scores and provide a FAKO score to you when you are denied/counter~offered.   The only way to know sometimes is to call and ask them, or to look at the range of possible scores that comes with the score.

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True  since not all creditors use fico model

[Anonymous]

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@Anonymous wrote:
Excellent info, Mustang. One clarification, though. The law does NOT require the issuer to provide you with a "FICO score"...
Just "A score". It can be any scoring model. Not all that helpful IMHO, but it's a good start.

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I believe you are correct, sorry about that, I just assumed it would be a FICO, because most lenders use FICO, not all do as you have outlined.

So the score you get may not be a FICO, but I'm betting a good amount of them will be, In my AmEx Congrats letter it stated that my EX FICO was included, so maybe if it is a FICO that is provided by the lender it will state "FICO" in the letter, who knows??

[HoldingOntoHope]

The score they usually provide is "the score they used in their decision". So even if they pull a FICO score (which most do) they may run it through their own internal algorithms and come up with a different number.

I know I just requested a CLI from JC Penney and they declined. The letter they sent said my "Score" was a 640 on a scale of 350 - 700, or something close to that, I don't have the letter. But I just got my annual reports afterward and they did a soft pull on the same day as my request on TU. My CL is already $1800 and I only spent $350 all year so I am not surprised they said no.

In fact they said in the letter my score was NOT the primary factor in their decline. But they really didn't give me a primary factor. My guess "You don't use what you have - You don't need more."

[Anonymous]

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@HoldingOntoHope wrote:

The score they usually provide is "the score they used in their decision". So even if they pull a FICO score (which most do) they may run it through their own internal algorithms and come up with a different number.

I know I just requested a CLI from JC Penney and they declined. The letter they sent said my "Score" was a 640 on a scale of 350 - 700, or something close to that, I don't have the letter. But I just got my annual reports afterward and they did a soft pull on the same day as my request on TU. My CL is already $1800 and I only spent $350 all year so I am not surprised they said no.

In fact they said in the letter my score was NOT the primary factor in their decline. But they really didn't give me a primary factor. My guess "You don't use what you have - You don't need more."

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I completely agree with you 100%

At least they told you the scoring model they used (350-700) no doubt not a FICO scoring range, this Dodd-Frank Act is a good thing, but still not what we consumers would really like in one respect, our (True FICO's) But overall I think this is a great law, a step forward, towards helping/protecting consumers, rather than just another law to help/protect creditors.

[chnceit]

Thank you everyone. This is really good info. On my AMEX letter it does state FICO and scale of 300-850.

[JusdoNit]

I think for denials the score is on the front and for approvals it may be on the back of the approval letter.  Atleast that was the case with me.

[chnceit]

Your right Jusdonit my score is listed on the back of the approval. Thats why I was confused to usually it would be smack middle in the front.

[Anonymous]

Just thought I'd add the info that no all denials will result in giving you a score either.  I have a 7 year old chapter 7 BK.  I app'd for two jewerly store accounts recently.  One denied me straight out because of the BK.  The denial letter stated they couldn't approve me because of the BK.  Not because of my score.  The other store I guess if affiliated with a jewerly account that was included with the BK.  They didn't even pull my credit.  My denial letter stated "history of poor performance with us".  So not even denials mean you have to be given some type of score. 

I think it's great that some companines are disclosing your scores even when approved. 

[pizzadude]

----->   Just thought I'd add the info that no all denials will result in giving you a score either.  I have a 7 year old chapter 7 BK.  I app'd for two jewerly store accounts recently.  One denied me straight out because of the BK.  The denial letter stated they couldn't approve me because of the BK.  Not because of my score.  The other store I guess if affiliated with a jewerly account that was included with the BK.  They didn't even pull my credit.  My denial letter stated "history of poor performance with us".  So not even denials mean you have to be given some type of score. 

Interesting....I think if a creditor doesn't use your CR as a basis for denying , then they probably don't have to send your score.   Like if you are on their Blacklist for example....