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Chase Slate will stop providing monthly FICO score

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Frequent Contributor

Chase Slate will stop providing monthly FICO score

I just got a secure message on my Slate account that they will stop providing their current "Slate Credit Dashboard" that displays the Experian FICO score on June 9, 2019. They are pushing their Vantage based "Credit Journey" instead. While Amex still provides a FICO score with some cards, they seem to be de-emphasing that too in favor of their Vantage based "MyCredit Guide", I wonder if they will follow by dropping the FICO. That also leads to the question of whether other card providers that currently give monthly FICO scores will move away from that.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Sync Lowes, Sync JC Penney - total CL 129k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 1 of 13
12 REPLIES 12
Valued Contributor

Re: Chase Slate will stop providing monthly FICO score

Another way for banks to cut costs is all this is. FICO scores are more expensive to obtain then vantage.

 

Almost every major bank provides a FICO score monthly. The list is extensive.





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FICO 8 scores 04/2019
EX-778
TU-714
EQ-716
Message 2 of 13
Regular Contributor

Re: Chase Slate will stop providing monthly FICO score

3 of my 9 credit score access points are now Vantage based scores.

 

Starting Score: F8 720
Current Score: F8 796
Goal Score: F8 800


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Message 3 of 13
Frequent Contributor

Re: Chase Slate will stop providing monthly FICO score


@Shadowfactor wrote:

Another way for banks to cut costs is all this is. FICO scores are more expensive to obtain then vantage.


Certainly so, that's what leads to the question of whether this will spread.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Sync Lowes, Sync JC Penney - total CL 129k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 4 of 13

Chase Ending Free Access to FICO Score for CC holders

It is still allowing access to the Vantage Score through transunion through Chase Credit Journey. Don't know what happened but it's pretty inconvenient, so keep this in mind if your reading other posts that state you have access to the FICO score through Chase cards.

 

Message 5 of 13
Moderator Emeritus

Re: Chase Ending Free Access to FICO Score for CC holders

Well this actually has a wider meaning in the credit market.

Almost all the free FICO scores were provided under the FICO Open Access program with absurdly few exceptions (DCU’s program predates it for example but not many others’ do).

What FICO Open Access offered is if a lender pulled a FICO score as part of their account reviews on existing customers, they could provide that score free of charge to the customer directly.

A lot of lenders took advantage of this, but with some lenders stepping away it means something concrete:

They are no longer pulling a FICO score for their account reviews.

That has some interesting implications for the wider market, namely either FICO is too expensive compared to other algorithms or otherwise not providing a better analysis, and that lenders are switching to other algorithms for reviews and quite possibly for UW in the future.

Not a good look for Fair Issac.



        
Message 6 of 13
Established Contributor

Re: Chase Ending Free Access to FICO Score for CC holders

Chase??? Using Vantage for internal scoring and CLI's???

 

That's it... I've had enough internet today. Smiley Tongue Smiley Frustrated Smiley Indifferent

Amex PRG (NPSL), Amex Blue Cash ($8K), Amex Simply Cash+ ($4K), Discover ($20.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($10K), Buckle ($1.3K), BofA AAA Rewards ($67.6K), Paypal credit ($7.8K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($10K)
Message 7 of 13
Super Contributor

Re: Chase Ending Free Access to FICO Score for CC holders


@ChargedUp wrote:

Chase??? Using Vantage for internal scoring and CLI's???

 

That's it... I've had enough internet today. Smiley Tongue Smiley Frustrated Smiley Indifferent


Chase has been using them for years along with EX and EQ fico 8.








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Message 8 of 13
Moderator Emeritus

Re: Chase Ending Free Access to FICO Score for CC holders

Really for the past several years the internal score Chase developed appears to have “won” the underwriting debate.

Credit Journey or whatever it is, is just keeping up with the Joneses... or more cynically a cheap way to get access to their customer’s TU dataset by peddling a Vantage Score.



        
Message 9 of 13
Super Contributor

Re: Chase Ending Free Access to FICO Score for CC holders


@Revelate wrote:

What FICO Open Access offered is if a lender pulled a FICO score as part of their account reviews on existing customers, they could provide that score free of charge to the customer directly.

A lot of lenders took advantage of this, but with some lenders stepping away it means something concrete:

They are no longer pulling a FICO score for their account reviews.


They could provide that score free of charge or they have to provide that score free of charge?  If they have to, I agree with what you said above.  If providing the FICO score that they pull is simply an option, I don't see why they could just opt to not provide it?  That being said, this doesn't mean that FICO scores are no longer being pulled necessarily, simply that they aren't being provided to the customer no?

Message 10 of 13
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