Chase Card Scoring System? (Fico8/9/Bankcard) Updates on CARS system?

[MarshallMan13]

I recently applied and got denied for a chase cfu credit card. After receiving the denial letter it said that the used fico score but not which model. From what I searched on the web I found the have their own scoring model but the letter said Fico not (CARS V2) which I had expected to see. Is this a change? I also looked at which scoring model was closest to my models on the app here and it seems that Fico 9 Bankcard was the closest in scoring (spot on actually). Has anybody experienced anything similar? I made the mistake of applying right before my score was updated with a major change and am thinking of reapplying in the next 30-120 days. Any input helps. Main reason I'm curious is because I've heard that fico 9 system is much more easier on settled/paid in full charge offs/collections. I settled before I knew the difference.

Also as a side note anybody have any clear data or experience on Cap1?

Thanks

[GZG]

have you tried asking for your application to be reconsidered?

call in, be nice (please, thank you, good afternoon etc.), ask for the application to be reconsidered, be concise, I understand I was denied for X reason... but my credit report/chase bank history shows Y (reason X is not a good reason) 

[MarshallMan13]

Ya I've called a couple of times. I did get what seemed like the most reasonable answer the last time. The woman on the phone told me as of right now we can only see what shows up from the original hard pull. (pulled before the accounts were updated as settled) I'll need to reapply for them to do another hard pull and see the changes that I'm claiming to be re evaluated. I also got another letter in the mail that was a few days after the original letter. The letter removed the high utilization bullet that was on the account but not the settled charge off. The TU score was still showing the same as the first letter. It seems to be making much more sense. I'm thinking if I give it a little bit of extra time now and monitor exactly whats showing up on my line items from annualcreditreport.com I'll be in a pretty safe application position. If still denied due to recent inquires. I only have this current one and whats going to be the next one I think after I explain the situation they'll understand. I'm not churning by any means but man that bonus for the card was nice. They also had a better in branch offer to which included 5x on gas for the first year. I really dont want to miss out on the bonus. I'll also make sure to pump up my checking account before re-applying too. Start sending 100% of my DD there instead of my current 80 - 20 with my CU. Any thoughts?

[amy598batson]

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@MarshallMan13 wrote:

I recently applied and got denied for a chase cfu credit card. After receiving the denial letter it said that the used fico score but not which model. From what I searched on the web I found the have their own scoring model but the letter said Fico not (CARS V2) which I had expected to see. Is this a change? I also looked at which scoring model was closest to my models on the app here and it seems that Fico 9 Bankcard was the closest in scoring (spot on actually). Has anybody experienced anything similar? I made the mistake of applying right before my score was updated with a major change and am thinking of reapplying in the next 30-120 days. Any input helps. Main reason I'm curious is because I've heard that fico 9 system is much more easier on settled/paid in full charge offs/collections. I settled before I knew the difference.

Also as a side note anybody have any clear data or experience on Cap1?

Thanks

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Hello @MarshallMan13,
I was denied for the Chase CFU card, and the letter mentioned FICO but not the model—expected CARS V2. Based on my app data, FICO 9 Bankcard aligns closely. Has anyone seen Chase shift models recently? I’m considering reapplying after my score updates.

Best Regards,
Amy Batson