Sync PPMC to use Vantage 4.0 for CLI's

[Jnbmom]

I don't know why this is such a surprise,  they used TU FICO 8 which is the score they provided  to us and based their CLIs on, now they switched to Vatage 4.0 which they provide to us , hence that is what they will be using..

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[AverageJoesCredit]

Honestly, i dont think it really matters. Going off your reports one should have a general idea if they would be able to get a cli or not. They might say yes we are going to use Vantage to make decisions but could in reality still use our Ficos. Im not going to lose any sleep over it

[I_Love_Cards]

That’s all true too. Sync never gave me a CLI on anything with a TU Fico at 700 +/-. As soon as they swapped to Vantage (where I’m 630-645), I started to get CLI. They have been touted as a score-focused lender where 700+ means you’re “in”. So the idea of them changing to a model where my score is so much lower is ... unappealing.

But now with my brand new lower score-they have finally decided I’m worthy of CLI so it’s perhaps not the kiss of death.

Maybe someday, I’ll even get my Lowe’s card up over $500? A girl can dream.

[DaveInAZ]

Holy Moly! Sync can use my Vantage 4 score for anything they want!

I just set my PPMC to provide me  Vantage 4 score - 768!!!

I've always hated Vantage scores, thanks to Credit Karma Vantage 3 scores - my TU Fico8 is 734, TU VS3 score - 695. So I like Vantage 4 mucho more. 

But, I'm maxed out on Synchrony CLs - $10k on PPMC, $15k Lowes, & $10k Walmart store card. Yeah, I know I could call Credit Solutions to ask for more on PayPal and maybe Walmart before it goes to Cap1, but good enough for me. And yeah you can go more on Lowes, but while I've done large spends in the past on deferred interest the past couple of years I've only bought a garden hose & potted plants to keep it active, so why push it.

[Jnbmom]

And you can still use the " un enroll" trick to always get a fresh score😆

[DaveInAZ]

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@Jnbmom wrote:

And you can still use the " un enroll" trick to always get a fresh score😆

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Ah, good tip! But I also have Lowes so I think I'll set that to Vantage 4 the begining of the month and get a Sync Vantage 4 score twice a month. Also I keep TU locked and will have to unlock it to re-enroll, monthly updates aren't a problem once enrolled.

[Jnbmom]

And I must say these 4.0 scores fluctuate more often the gasoline 😂😂😂

Within 2 weeks, I have had multiple changes atleast 6 scoring changes 😕

[Jnbmom]

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@DaveInAZ wrote:

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@Jnbmom wrote:

And you can still use the " un enroll" trick to always get a fresh score😆

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Ah, good tip! But I also have Lowes so I think I'll set that to Vantage 4 the begining of the month and get a Sync Vantage 4 score twice a month. Also I keep TU locked and will have to unlock it to re-enroll, monthly updates aren't a problem once enrolled.

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Oh yes I agree,  between my multiple synch accounts I can get weekly if needed/wanted

[DaveInAZ]

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@Jnbmom wrote:

And I must say these 4.0 scores fluctuate more often the gasoline 😂😂😂

Within 2 weeks, I have had multiple changes atleast 6 scoring changes 😕

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Ah, another good tip! Makes sense, my Fico scores are pretty stable while CK VS3 scores bounce like a basketball. A new account reported in early August, CK dipped a dozen points, TU Fico 2 points.

[K-in-Boston]

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@Jnbmom wrote:

I don't know why this is such a surprise,  they used TU FICO 8 which is the score they provided  to us and based their CLIs on, now they switched to Vatage 4.0 which they provide to us , hence that is what they will be using..

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It's a surprise (if the chat agent was not mistaken) because other lenders that provide Vantage scores do not actually use them for lending decisions. This would likely be a big boost for those with marginal FICO scores and hurt those with above average scores from the data points we have seen, at least with VS3.

For TU, my current FICO 08 score is 802, while my VS3 score is 754 (about the closest it has ever been; it's sometimes 100+ points lower) and my VS4 score is only 742.

Because of the way the VS algorithms work, there are probably a lot of people here with FICO scores in the mid-600s that might have an easier time getting approvals and CLIs due to inflated VS scores than some people with 770-800 or higher FICO scores.