Do some CC's count more towards your FICO than others

[Bankrupt2019]

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@pizza1 wrote:

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@Bankrupt2019 wrote:

IMHO you're probably not going to see much in the way of increase until your scores come up a bit, however you may want to call synchrony credit solutions  (1-866-519-6441) and ask them for the limit increase on your card. If you used the "luv" button the computer likely used the same score that was used for your original approval.

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no offense, but this has been brought before multiple times......the BLUE IS HARD TO READ AND NOT EYES ON THE EYES! 

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That better?

[Anonymous]

just take the bold off. that's the part that makes it hardest.

[Bankrupt2019]

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@Anonymous wrote:
just take the bold off. that's the part that makes it hardest.

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I think I just like it better because it's easier to read on my tiny iPhone

[Anonymous]

oh. i have a big iPhone. lol.

[CreditMagic7]

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@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.

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I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.

[Themanwhocan]

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@CreditMagic7 wrote:

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@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.

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I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.

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Its not prime cards. Whatever that is supposed to mean. Its:

There are not enough premium bankcard accounts on your credit report.

Which is to say, credit cards from a bank, with a credit limit of $10,000+ as of 1998. We know this because Transunion revealed some details in some reports they had to give to the government back in 1998. So, is the magic value still $10,000 or has it increased? We just don't know. We also don't know how many is "enough".

So yes, some CC count more towards your FICO than others. Also, If you get one from a finance company, those types of places are considered lenders of last resort, so it becomes a negative on your report.

[Revelate]

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@myjourney wrote:

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@Anonymous wrote:
no. revolving is revolving

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+1 

All coounted the same 

No difference in Fico eyes under any model 

Welcome to the forum 

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Any recent model to my knowledge true; however, FICO NextGen broke out store cards and bank cards in the reason codes.

Granted I know of only like 2 CU's that still use either 1.0 or 2.0 for that suite of models: unless you're dead set on getting a product from Penfed odds are you'll never encounter it.

[Anonymous]

I just reviewed my credit check total 3B report from 3/4/16 and noticed some differences in how my revolving accounts were shown.

Barclays, B of A, Cap1, Fifth Third, USAA, were listed as 'Bank Credit Cards'.

My Overstock store card was listed as 'Retail, not elswhere classified' and still as 'revolving' on EXperian, EQ says 'Miscellaneous', and TU says 'Variety, National Chain'.

My Amazon Prime store card is listed as 'Variety Stores' on EX, 'Mail Order firm' on EQ, and TU says 'Variety, National Chain'.

My closed Credit One account was a Bank Credit Card.

My Merrick account is a Bank Credit Card.

My Walmart Dual Card (Mastercard) is listed as a Bank card.

On EQuifax, my Sportmans Guide Visa and Modell's Visa from Comenity is listed as 'Sporting Goods', but TU shows it as 'Banks and S&Ls'. (EX said Bank Card).

I havent received any comments about the types of revolving accounts from any app or CLI request yet, and my Overstock card has been on my reports when I made most of the other apps.

HTH

 ETA: I could understand that type of response if one had a 'heavy' showing of store cards that would look like redundant listings.  I worry that my having Sportmans Guide Visa and also Modells Visa looks redundant in my case, and I may drop the one with lowest CL in the future.  I do use both my Amazon and my Overstock cards and will keep both, as well as Walmart.  I did get Overstock, Sportmans Guide Visa, and Modells Visa from the Comenity SCT, my only ones from there.

[CreditMagic7]

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@Themanwhocan wrote:

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@CreditMagic7 wrote:

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@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.

---

I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.

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Its not prime cards. Whatever that is supposed to mean. Its:

There are not enough premium bankcard accounts on your credit report.

Which is to say, credit cards from a bank, with a credit limit of $10,000+ as of 1998. We know this because Transunion revealed some details in some reports they had to give to the government back in 1998. So, is the magic value still $10,000 or has it increased? We just don't know. We also don't know how many is "enough".

So yes, some CC count more towards your FICO than others. Also, If you get one from a finance company, those types of places are considered lenders of last resort, so it becomes a negative on your report.

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Broken down by that variable indeed.

Premium = Credit Limit of at least some expected Limit (Whatever the current number which meets lender criteria)

Bankcards = Industry-wide Leading Standard Visa/MC/Amex/Discover

And as indicated steer clear of any Finance Company Accounts which explaination is spot-on.

[Thomas_Thumb]

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@CreditMagic7 wrote:

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@Themanwhocan wrote:

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@CreditMagic7 wrote:

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@Anonymous wrote:
I was declined for an increase on my Wal Mart card recently and one of the reasons was "not enough prime cards". Funny, they didn't care when they approved me. Anyway, while it may not impact your Fico score, it could impact your ability for approvals/ CLI's.

---

I used to get some similar details on such denials so what i done was said to self, if they want to see more prime cards, then i'll give them more prime cards.

Maybe more primes than they needed to meet that standard but then i never seen that response again after i did.

---

Its not prime cards. Whatever that is supposed to mean. Its:

There are not enough premium bankcard accounts on your credit report.

Which is to say, credit cards from a bank, with a credit limit of $10,000+ as of 1998. We know this because Transunion revealed some details in some reports they had to give to the government back in 1998. So, is the magic value still $10,000 or has it increased? We just don't know. We also don't know how many is "enough".

So yes, some CC count more towards your FICO than others. Also, If you get one from a finance company, those types of places are considered lenders of last resort, so it becomes a negative on your report.

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Broken down by that variable indeed.

Premium = Credit Limit of at least some expected Limit (Whatever the current number which meets lender criteria)

Bankcards = Industry-wide Leading Standard Visa/MC/Amex/Discover

And as indicated steer clear of any Finance Company Accounts which explaination is spot-on.

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As others have mentioned, Fico 08, Fico 09 and Fico mortgage (04 and 98) models do not look at type of revolving credit card in their scoring models nor do the look at credit limits directly in scoring. 

Credit based insurance scoring (CBIS) models DO look at average CC credit limit (LexisNexis, TransUnion and probably Fico - yes Fico is a player in CBIS but not the dominant one). For CBIS an average CL of $10k or more is typically the top scoring category. Also, some CBIS models (LexisNexis) also look at type of card (Bankcard, retail card, gas card, etc...).

Credit card issuers may look at what cards you have (are they 1st, 2nd or 3rd tier) and credit limits on your current cards as part of their decisioning. They may state something related to this in a rejection letter. Nonetheless, other than Fico NextGen, average CL and type of revolver card are not scoring factors. Sure, CL influences utilization, but the scoring factor is utilization.