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Web bank pre approval score way off?

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Regular Contributor

Web bank pre approval score way off?

Hello all, 

I checked for pre approvals from web bank about a month ago and I just got the letter in the mail stating my score was.... 489!!!!! I am so confused by this because my fico 8 scores are ex 687 eq 645 and tu695 mortgage fico is 665 and bank cars 645. What score did they use? Is this a mistake? Even my equifax specific score is over 620. I was looking to finance a dell laptop a while ago. 

any thoughts on this? Why this would be? What score did they use? Maybe it was from an old report from when my scores were much lower before getting some fraud and collections removed. (No more collections on my report!!)

3 REPLIES 3
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Valued Contributor

Re: Web bank pre approval score way off?

They should have mentioned which scoring model they are using! If not you can call them and find out. Many banks even use their own internal score.







           
Message 2 of 4
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Frequent Contributor

Re: Web bank pre approval score way off?

Ouch. Internal score?

Personal cards:
Amex Blue Cash Preferred | Capital One Quicksilver VS | Chase Freedom VS | Chase IHG Select WMC | Discover It | NFCU CashRewards MC | US Bank Cash+ VS
Business cards:
Amex Blue Business Cash (Hidden TL)
Total Credit Lines: $150K, DTI: 1%
In the Garden!
July 2020 FICO 8 Scores: EX 808 | EQ 820 | TU 820
Will answer questions about underwriting.
Message 3 of 4
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Community Leader
Super Contributor

Re: Web bank pre approval score way off?


@plaidington wrote:

Ouch. Internal score?


Mmhmm. Different banks like Chase (CARS), NFCU's and AMEX's own scoring cards are a few that are known. They take the data from the applicant and populate their own risk assessment when evaluating customers

Message 4 of 4
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