Jump to content

Karie

New, unique question I can't find an answer to

Recommended Posts

Hi. So, little background. Made mistakes about 9 years ago credit wise and due to situation let them sit until they fell off. 

 

On a whim I applied for a store card funded by Synchrony and was approved. Get my card and a letter in the mail stating, "Hey, due to your score we can't offer you the lower rate blah, blah". I'm like cool, I'm just building back, wiser than before and flip the page to see my score as 450 from TU on 8/27/19. I figured it would be bad but decided to get my free reports and also went to myFico to obtain my scores. Well, they're all a minimum of 210 -219 pts higher as of yesterday 9/6/19 to include all 3 bureaus. Why would this happen? Or is this some shady way to not offer the better rate?

 

Anyways, I called all 3 bureaus to confirm and then proceeded to call Synchrony. My CS rep was as confused as I was and they are going to investigate. 

 

Generally, I'm just happy that my score is higher than anticipated but want to make sure that I'm  not dealing with a scam company right off the bat in making the right credit choices this time around. 

Share this post


Link to post
Share on other sites

Welcome to Creditboards!

We hope that you find what you're looking for here.

Some helpful tips:

  • Your post may not get a reply right away. Don't be discouraged, this is a very busy board. If it falls off of the first page, feel free to reply to your post yourself, with the word *bump* in the text. This will *bump* your post back up to the top of the board.
  • If you haven't yet, take a peek at out Newbies Section. Everything that you need to know is in that forum, for the most part. It's a lot of reading, we know, but this credit stuff can have a steep learning curve. In no time, you'll be posting like the pros!
  • If you find that someone is discourteous to you, use the REPORT button at the top right of every post - that will ensure that a moderator or admin looks at the post and decides if it is against the TOS.
  • Off -topic posts should go in the General Forum.

 

Again, welcome to the CreditBoards family!

CB Admin: LKH, Pam, radi8, :angel:breeze:angel: & MarvBear

 

Share this post


Link to post
Share on other sites

welcome to CB and congrats on the approval.

 

some creditors use scores other than the ones sold by the four major CRAs. see this thread for information on FICO score ranges and types: https://creditboards.com/forums/index.php?/topic/488877-actual-fico-score-ranges/

 

risk-based pricing is standard these days for most issuers. the thing is, the APR offered doesn't matter if you use the card smartly which means always pay in full.

 

:wave:

Share this post


Link to post
Share on other sites

Read the info after the score they gave you.

 

I recently got a card that is through Synchrony as well. When I received the card the accompanying information said that my score was 549 (my FICO 8 scores are 200+ points higher). Then it says that “Scores range from a low of 300 to a high of 620.” There is no FICO score model that uses that range. 

 

They are using an internal scoring model. 

Edited by DPB

Share this post


Link to post
Share on other sites
21 hours ago, Karie said:

my score

You don't have a score.  You have dozens/hundreds of different scores depending on the bureau pulled and the score model used, and they can all change constantly and independently.

 

My Equifax mortgage FICO is currently ~65 points lower than the more-commonly-encountered FICO 8, and my credit is perfect by most people's measures.

 

I'm going to give you a CV Score of 1,177.  There's nothing you can do with that score, but I'm in a good mood.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Today's Birthdays

    No users celebrating today.
  • Member Statistics

    • Total Members
      177,289
    • Most Online
      1,528

    Newest Member
    k8ward
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines