Fico 10 counts SP against you?

[AzCreditGuy]

I didnt realize that US bank used Fico 10 for CLI? This is how the timeline follows for my CLI requests

04/22/24

07/17/24

08/12/24

Of course I got denied for a CLI since my last CLI was 04/22/24

The reasons:

Your credit score is a number that reflects the information in your credit report. Your credit score can change,
depending on how the information in your credit report changes. We used a credit score provided by TransUnion in
this decision: the TransUnion FICO Score 10, which ranges in value from 300 to 850. On 07/24/2024 your credit
score was 782 based on the information in your credit report.
The key factors that impacted your score were:

Lack of recent installment loan information
Ratio of balances to revolve limits on revolving accounts is too high
Length of time revolving accounts have been established
Number of recent inquiries on consumer report

I have had zero inquires for 5 years on all 3

[MissLiz]

That's the first time I've read a creditor uses FICO10. I don't know about the SP's being used. I think that's just a reason they spit out. At least, I hope. 

[Rebuild2019]

How often will US Bank give a CLI?

[AzCreditGuy]

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@Rebuild2019 wrote:

How often will US Bank give a CLI?

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I am under the impression you can ask whenever but I assume its 6 months but no guarantees, since credit did dry up and now its might be longer period.  

[pizzadude]

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@AzCreditGuy wrote:

I didnt realize that US bank used Fico 10 for CLI? This is how the timeline follows for my CLI requests

04/22/24

07/17/24

08/12/24

Of course I got denied for a CLI since my last CLI was 04/22/24

The reasons:

Your credit score is a number that reflects the information in your credit report. Your credit score can change,
depending on how the information in your credit report changes. We used a credit score provided by TransUnion in
this decision: the TransUnion FICO Score 10, which ranges in value from 300 to 850. On 07/24/2024 your credit
score was 782 based on the information in your credit report.
The key factors that impacted your score were:

Lack of recent installment loan information
Ratio of balances to revolve limits on revolving accounts is too high
Length of time revolving accounts have been established
Number of recent inquiries on consumer report

I have had zero inquires for 5 years on all 3

---

I'm not sure that these denial reasons listed are necessarily from FICO scoring -- lenders frequently add / remove from FICO scoring reasons and insert reasons from their own underwriting engines. 

[Thomas_Thumb]

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@AzCreditGuy wrote:

I didnt realize that US bank used Fico 10 for CLI? This is how the timeline follows for my CLI requests

04/22/24

07/17/24

08/12/24

Of course I got denied for a CLI since my last CLI was 04/22/24

The reasons:

Your credit score is a number that reflects the information in your credit report. Your credit score can change,
depending on how the information in your credit report changes. We used a credit score provided by TransUnion in
this decision: the TransUnion FICO Score 10, which ranges in value from 300 to 850. On 07/24/2024 your credit
score was 782 based on the information in your credit report.
The key factors that impacted your score were:

Lack of recent installment loan information
Ratio of balances to revolve limits on revolving accounts is too high
Length of time revolving accounts have been established
Number of recent inquiries on consumer report

I have had zero inquires for 5 years on all 3

---

Negative factors affecting your score are listed from highest impact to lowest. A 782 score is plenty high. My guess is you were denied due to the recent CLI and possibly utilization.

Denials typically require the lender to send a letter. The letters are often  canned and include Fico info for show. The denial may have nothing to do with your score or the listed reasons.

Fico does not score soft inquiries. That being said your creditor from internal records will know how many soft inquiries they made. They can also see 3rd party hard inquiries. However, soft inquiries on your credit reports should not be visible to 3rd parties.

[AzCreditGuy]

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@pizzadude wrote:

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@AzCreditGuy wrote:

I didnt realize that US bank used Fico 10 for CLI? This is how the timeline follows for my CLI requests

04/22/24

07/17/24

08/12/24

Of course I got denied for a CLI since my last CLI was 04/22/24

The reasons:

Your credit score is a number that reflects the information in your credit report. Your credit score can change,
depending on how the information in your credit report changes. We used a credit score provided by TransUnion in
this decision: the TransUnion FICO Score 10, which ranges in value from 300 to 850. On 07/24/2024 your credit
score was 782 based on the information in your credit report.
The key factors that impacted your score were:

Lack of recent installment loan information
Ratio of balances to revolve limits on revolving accounts is too high
Length of time revolving accounts have been established
Number of recent inquiries on consumer report

I have had zero inquires for 5 years on all 3

---

I'm not sure that these denial reasons listed are necessarily from FICO scoring -- lenders frequently add / remove from FICO scoring reasons and insert reasons from their own underwriting engines. 

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These are from Fico 10 and they are appear in Fico 8 for reasons as well, expect for the Number of recent inquiries on consumer report

[MissLiz]

Straight from FICO:

https://www.myfico.com/credit-education/credit-reports/credit-checks-and-inquiries#:~:text=Soft%20in... 

[AzCreditGuy]

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@Thomas_Thumb wrote:

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@AzCreditGuy wrote:

I didnt realize that US bank used Fico 10 for CLI? This is how the timeline follows for my CLI requests

04/22/24

07/17/24

08/12/24

Of course I got denied for a CLI since my last CLI was 04/22/24

The reasons:

Your credit score is a number that reflects the information in your credit report. Your credit score can change,
depending on how the information in your credit report changes. We used a credit score provided by TransUnion in
this decision: the TransUnion FICO Score 10, which ranges in value from 300 to 850. On 07/24/2024 your credit
score was 782 based on the information in your credit report.
The key factors that impacted your score were:

Lack of recent installment loan information
Ratio of balances to revolve limits on revolving accounts is too high
Length of time revolving accounts have been established
Number of recent inquiries on consumer report

I have had zero inquires for 5 years on all 3

---

Negative factors affecting your score are listed from highest impact to lowest. A 782 score is plenty high. My guess is you were denied due to the recent CLI and possibly utilization.

Denials typically require the lender to send a letter. The letters are often  canned and include Fico info for show. The denial may have nothing to do with your score or the listed reasons.

Fico does not score soft inquiries. That being said your creditor from internal records will know how many soft inquiries they made. They can also see 3rd party hard inquiries. However, soft inquiries on your credit reports should not be visible to 3rd parties.

So you understand I am aware of what you are saying. As for SP I am aware of that, but this is suspect Number of recent inquiries on consumer report?

US bank has internal letters that I have agreed to receive online and it is a legit denial letter

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[AzCreditGuy]

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@MissLiz wrote:

Straight from FICO:

https://www.myfico.com/credit-education/credit-reports/credit-checks-and-inquiries#:~:text=Soft%20in... 

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Thanks very aware of INQ, but I havent applied or done any INQ for all 3 EX, EQ, TRANS in 5 yrs