Got Ex FICO from AmEx!

[LS2982]

My EX FICO when I apped for AMEX was lower than what my PSECU EX FICO was. I'm thinking they do Credit Card Enhanced FICO's.

[MarineVietVet]

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@CS800 wrote:

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@MarineVietVet wrote:

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@CS800 wrote:

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@android01 wrote:

Installment loans carry more weight in FICO scoring as they tend to be for a long period of time and they demonstrate that you meet your commitments over that time.  They are a better indicator of your reliability as a debtor.  In order of importance and heavier weighting for FICO scoring:

Mortgage

Installment Loans

Credit Cards (Bank)

Retail Cards

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+1

This is how it is ranked on Experian

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Is this from the EX website? Remember that the scores and credit advice from EX are to be ignored. The PLUS score formula looks at factors much differently than FICO scoring.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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Yes EX ranks it this way .Credit cards are third on the list.

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Then I will say once again to ignore this. This is not how FICO looks at accounts. Remember that the EX website sells you worthless scores and offers useless advice.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

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@Anonymous wrote:

766! After an INQ from Chase. (Guess it would have been higher, I'm amazed, I thought Ex was the harshest of three CRAs)

I just wish chase included an Ex FICO to compare.

Key factors that affected my score:

Too few accounts paid as agreed. (Guess that means I have too few accounts period..)

Lack of recent installment loan information (I never had one.. Don't know how this really affects my score, unless they want me to have one?)

Length of time accounts have been established (Guess 2.4rs IS pretty short..)

Too many inquiries in the last 12 months (I had one at Chase, thats too many??)

Okay so I guses thats a lesson for me in the future.. Apply for AmEx 1yr or so apart from other INQ..

Let my accounts age...

Get an installment loan?? (Uh..?)

I hope 3 accounts will break me out of the "too few accounts"..

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My first denial from Amex listed this as a reason as well.  So off I went to my local bank to set up a secured 12 month loan backed by my 18 month CD.  I put most of the loan in a savings account and set up auto-pay to cover the loan payment each month and bought an iPad for my wife with part of the remainder.  9 months later I was approved with Amex.

[Anonymous]

Yay my BCE came in today... (Okay yesterday, its 1AM..) Anyway...

*happy dance*

20.24 apr though =| lol oh wells.

[quest208]

congrats.  what are you charging on it first?

[Anonymous]

Yogurt.. my delicious delicious yogurt from whichever supermarket has it cheapest. 

[chnceit]

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@Anonymous wrote:

Yay my BCE came in today... (Okay yesterday, its 1AM..) Anyway...

*happy dance*

20.24 apr though =| lol oh wells.

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So I guess AMEX gives you your FICO if you dont get the best terms because my APR is similar But your FICO is way higher than mines.

LOL I happy danced too