Chase Card Acquisition Risk Score V2 trended data

[SouthJamaica]

There appears to be little data among us about the components of Chase's internal score: Chase Card Acquisition Risk Score V2.

It's a score that runs from 250 to 900.

I recently got a denial letter.  One thing that jumped out at me was this listed among the reasons for denial:

"Credit card balances grew too fast"

I've never seen that before; it shows a use of trended data.

The factors listed in the letter which adversely affected the internal score were:

Number of requests for new credit in the past 3 months
Number of requests for new credit in the past 12 months
Growth in credit card balances
Insufficient installment loan information

So I believe that the score uses trended data.

BTW the reference to "insufficient installment loan information" is odd, since I have an open installment loan, and 11 closed installment loans, one of which was a Chase auto loan

[Anonymous]

Good info.  Trended data definitely being used.  It also clearly shows that they look at inquiries from the last 3 months and last 12 months as 2 separate metrics.  The installment loan comment is a head scratcher though considering your profile.  I wouldn't think that 2+ open loans would be a requirement under any scoring algorithm, but you never know.  Maybe that metric is taking into consideration loan:revolver ratio, where since you have a lot of revolvers your percentage of loans to them is very small now that you've closed a bunch.

[Curious_George2]

I have a Chase denial letter from March that includes "insufficient installment loan info" as the second reason for my 771 CARS2 score. At that time, I think I had 8 cards and between 4 and 7 open installment loans reporting (was in the middle of consolidating student loans, hence the range). So I don't think it's about card/loan ratio or raw number of loans. 

I didn't have a mortgage. Could that be what it means?

[Anonymous]

I agree that it doesn't sound like loan to revolver ratio then.

If the reason statement was due to lack of a present mortgage, I would think it would point to that factor specifically. 

I don't see any justification on having an open mortgage (verses other loan types) for their scoring model though.  I get it for an industry enhanced version, but don't see how lack of a mortgage could ring in as the #2 reason on the list.

[SouthJamaica]

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@Curious_George2 wrote:

I have a Chase denial letter from March that includes "insufficient installment loan info" as the second reason for my 771 CARS2 score. At that time, I think I had 8 cards and between 4 and 7 open installment loans reporting (was in the middle of consolidating student loans, hence the range). So I don't think it's about card/loan ratio or raw number of loans. 

I didn't have a mortgage. Could that be what it means?

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I think that might be it, because I have no mortgage, open or closed, in my reports.

[Curious_George2]

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@Anonymous wrote:

I agree that it doesn't sound like loan to revolver ratio then.

If the reason statement was due to lack of a present mortgage, I would think it would point to that factor specifically. 

I don't see any justification on having an open mortgage (verses other loan types) for their scoring model though.  I get it for an industry enhanced version, but don't see how lack of a mortgage could ring in as the #2 reason on the list.

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I agree that it seems illogical. I'm just trying to make the facts fit together somehow. 

I had a lot of history with installment loans. My reported open loans at that time were 12-1.5 years old, with no baddies. If closed loans are included, the raw number was around 15 and the oldest was 15 years, still with no baddies. Loan mix included auto, student and personal. I did have high loan util (probably around 90% at the time).

As I type all this out and see that my youngest loan was 1.5 years old, I'm wondering if that might have been what triggered it.

[Anonymous]

Not a bad thought.  AoYL too low, perhaps.  With the amount of installment loans you have though, seems sort of silly to knock someone for that.  But, these algorithms aren't designed to necessarily make sense, lol.

[Remedios]

Chase retains monthly SPs and ARs.

If you ever call to recon new account denial or CLI request, analyst will typically have a year worth of reports. 

That's how they always rolled, nothing new. 

[Anonymous]

Could’ve been the age of the loans or I wonder if they had been updated that month? weird.