If you have a Wamu Credit Card...here is info regarding FICO scores they provide you

[Anonymous]

What score does WaMu display online?

We display a credit card specific FICO score which can range between 250 and 900.  This score adjusts the Classic FICO score based on bankcard credit risk. The Classic FICO score measures a consumer's general credit risk. Large differences between the Classic FICO score and the credit card specific FICO score indicate a consumer whose general credit risk is different than their bankcard credit risk.

When do FICO scores update on this website?

The first score we display for your account is the score we obtained from the credit bureau when processing your application. This score is usually made available to you on our website within 2 to 4 weeks after your account has been opened and will remain available until it is 90 days old or we have begun receiving updated scores from the credit bureau. It may take as long as 3 to 4 months after your account is opened before we begin receiving the monthly updates. If you have a secured credit card account, we may not receive a score with your application, and it may take up to 6 months for a score to be displayed.

Scores are generally updated on a monthly basis depending on credit bureau updates and your account standing and should be available to view after the 21st through the 29th of the month. The score provided is based on the information in your credit report for the previous month.

However, we may not always receive a FICO score update for all of our customers from the credit bureau. If we do not receive information concerning your credit score from the credit bureau, we will not be able to display your updated FICO score. Additionally, as your credit history changes, so does your FICO credit score. If we do not receive an updated FICO credit score for your account within 90 days, we will no longer display your score.

Why do different sources show different FICO scores?

The FICO score displayed on this website is calculated as a credit card specfic FICO Score and is determined as of a certain date (usually for the preceding month) as indicated with the score. If you purchase a credit report product from a credit bureau with a FICO credit score, that score will most likely be different because it may be based on a different calculation (such as the Classic FICO Score) and includes your current credit information.

It is also important to note that your score may be different at each of the three main credit reporting agencies. The FICO score from each credit reporting agency considers only the data in your credit report at that agency. If your current scores from the three credit reporting agencies are different, it's probably because the information those agencies have on you differs.

Message Edited by Boscoe on 06-12-2008 12:20 PM

[DustyStash]

Thanks for taking the time to post that Boscoe. I think that answers a lot of the questions from another recent thread on here regarding the WAMU scores.

=o)

[Anonymous]

The WAMU scores are definitely an exception to the rule that most promo/freebie scores are worthless. The time to consider the bankcard-enhanced FICO scores are before you attempt operations involving obtaining or raising the limit on credit cards.

[Samantha_Storm]

I'm completely disgusted with the WAMU Fico scoring.  They only work off of TU and the information is usually off from myfico or myfako.  This caused my APR to go from 14.99% to 26.99%.  I almost had a heart attack so I called them.

Told them to lower it and they said no, so I stopped using the card.  The gave me a 500.00 credit increase telling me to use my card but kept the high APR.  I have one 14.95 a month charge on it as an auto pay and thats all they get from me.  Its pif every month and I won't use it for anything else.

[haulingthescoreup]

I'm completely confused. How does disliking the PFICO score translate into APR changes (I assume that's what you were talking about)?

[smallfry]

Hauling it appears to me as if they jacked her APR due to a drop in her PFICO score if I read it right.

[haulingthescoreup]

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@smallfry wrote:
Hauling it appears to me as if they jacked her APR due to a drop in her PFICO score if I read it right.

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Oh, OK, thanks, I see it now. (Long day at work.)

I've seen a lot of guessing, but I sure would love to know who else uses a Bankcard FICO score besides dear WaMu. I know that USAA doesn't, or I should say that they didn't for my HELOC, which granted, isn't a CC. I've also read posts that say that people's car loan lenders don't use the auto-enhanced scores. I wonder how much these specialty scores are actually used?

And as always, nearly every prime lender uses an in-house analysis of credit reports in addition to whatever version of a FICO score, thus the many, many posts by bewildered members who seemed to have the necessary scores for a given card, but were denied anyway.

[Anonymous]

By the way, the Bankcard FICO score that I get from the Wamu card is EX, not TU.   I will pull my scores again in July (on the one year anniversary of the bk we filed in 7/07) and compare to the PFICO and let you know.

[Anonymous]

I am thinking maybe it depends on the area that you are in. I have the PFICO and my score is indeed TU.

I too wonder who uses this score. My PFICO score is always much lower than my CFICO (not really asking for an explanation why).

I think this is a bad reward for a card honestly. I can get a cash back card and use that to pay for an updated score at least with a promo code. No one seem to use this score but them. It's always a month behind your actual score. It takes a while to update. My score says May 1st score when I didn't receive the score until the 16th. In two weeks a lot can happen (especially if you are rebuilding).

Just my opinion. Anyone reading this I would not open the card just for the score -- it's not worth it.

[Lucid08]

So from the posted information, this seems less about risk for the issuer more than it is about a justification for raising interest rates. Nice to jack up the rates on someone who is trying to build or rebuild credit and cant really afford to close the card for fear of losing the credit history along with it.