Author Topic: credit score (Read 829792 times)

Chase uses a proprietary score called the Card Acquisition Risk Score. It has a range of 250 to 900. This is usually, although not always, the score that is provided with a denial or with less than ideal terms.

Chase didn't actually give me a score with my last 3 cards, so, as far as I know, it is possible that it has changed. I think it is probably still the same.

Mendelssohn · « **Reply #2366 on:** February 29, 2016, 11:50:26 AM »

Quote from: Tywin on February 28, 2016, 09:25:18 PM

Chase uses a proprietary score called the Card Acquisition Risk Score. It has a range of 250 to 900. This is usually, although not always, the score that is provided with a denial or with less than ideal terms.

Chase didn't actually give me a score with my last 3 cards, so, as far as I know, it is possible that it has changed. I think it is probably still the same.

Correct, a bankcard enhanced FICO like PillanSmye said.

@Yehuda · « **Reply #2367 on:** February 29, 2016, 03:53:17 PM »

Citi closed a card due to inactivity for 24 months. Will it show up as "closed by issuer" on my report?

yochiek93 · « **Reply #2368 on:** February 29, 2016, 03:53:39 PM »

Quote from: @Yehuda on February 29, 2016, 03:53:17 PM

Citi closed a card due to inactivity for 24 months. Will it show up as "closed by issuer" on my report?

Yes

@Yehuda · « **Reply #2369 on:** February 29, 2016, 03:54:49 PM »

Quote from: yochiek93 on February 29, 2016, 03:53:39 PM

Yes

Do you know if putting a request to reopen the account will result in a new pull?

ETA: Rep said it will be a pull. Anyone know how "bad" a closed by issuer is?

Cappy · « **Reply #2370 on:** February 29, 2016, 04:24:21 PM »

Quote from: @Yehuda on February 29, 2016, 03:54:49 PM

Do you know if putting a request to reopen the account will result in a new pull?

ETA: Rep said it will be a pull. Anyone know how "bad" a closed by issuer is?

It's not a big deal to have "closed by credit grantor" if your profile is fine otherwise.

@Yehuda · « **Reply #2371 on:** February 29, 2016, 04:59:40 PM »

Quote from: Cappy on February 29, 2016, 04:24:21 PM

It's not a big deal to have "closed by credit grantor" if your profile is fine otherwise.

Thanks

Emkay · « **Reply #2372 on:** February 29, 2016, 05:14:41 PM »

Quote from: @Yehuda on February 29, 2016, 04:59:40 PM

Thanks

He also says that hard pulls are very overrated.
Maybe ask your question in relation to pulls. Is it better to switch a closed by issuer account for a hard pull

@Yehuda · « **Reply #2373 on:** February 29, 2016, 05:16:18 PM »

Quote from: Emkay on February 29, 2016, 05:14:41 PM

He also says that hard pulls are very overrated.
Maybe ask your question in relation to pulls. Is it better to switch a closed by issuer account for a hard pull

Valid point, although I was basing it on more than just 1 person's opinion.

So, what's worse:
Having a closed by issuer on your report or having a hard pull?

D93 · « **Reply #2374 on:** February 29, 2016, 06:07:35 PM »

Quote from: @Yehuda on February 29, 2016, 05:16:18 PM

Valid point, although I was basing it on more than just 1 person's opinion.

So, what's worse:
Having a closed by issuer on your report or having a hard pull?

Don't you live in NY? Just freeze your EX and Citi will pull your EQ.

Mendelssohn · « **Reply #2375 on:** February 29, 2016, 06:48:03 PM »

Hard pulls are overrated. Cappy is correct. I have 31 EX inquiries after my approval today for the Amex SimplyCash Plus.

Closed by issuer is not considered a negative and is not factored in to FICO scores. All that matters is the account payment history.

newdealseeker · « **Reply #2376 on:** February 29, 2016, 06:49:40 PM »

Quote from: Mendelssohn on February 29, 2016, 06:48:03 PM

Hard pulls are overrated. Cappy is correct. I have 31 EX inquiries after my approval today for the Amex SimplyCash Plus.

Closed by issuer is not considered a negative and is not factored in to FICO scores. All that matters is the account payment history.

So why is everyone afraid of it? I.E. when you anticipate not passing an Amex FR the consensus was that it's better to close your cards before they do, no?

Mendelssohn · « **Reply #2377 on:** February 29, 2016, 06:53:24 PM »

Quote from: newdealseeker on February 29, 2016, 06:49:40 PM

So why is everyone afraid of it? I.E. when you anticipate not passing an Amex FR the consensus was that it's better to close your cards before they do, no?

Not really.

There are a bunch of misconceptions about credit on this board.

I think part of the reason people freak out about inquiries is because of how sensitive FAKO scores are to inquiries. I know someone that had an 850 EX 08 FICO that dropped a total of 0 points for a new inquiry.

I can also assure you that it is possible to get approvals with Amex, Chase and Citi with a lot of recent inquiries. When you get denied for inquiries, usually that's not the real reason.

newdealseeker · « **Reply #2378 on:** February 29, 2016, 07:00:01 PM »

Quote from: Mendelssohn on February 29, 2016, 06:53:24 PM

Not really.

There are a bunch of misconceptions about credit on this board.

I think part of the reason people freak out about inquiries is because of how sensitive FAKO scores are to inquiries. I know someone that had an 850 EX 08 FICO that dropped a total of 0 points for a new inquiry.

I can also assure you that it is possible to get approvals with Amex, Chase and Citi with a lot of recent inquiries. When you get denied for inquiries, usually that's not the real reason.

What effect does the amount of inquiries have when applying for a mortgage?

Yhgfkj · « **Reply #2379 on:** February 29, 2016, 07:00:16 PM »

Quote from: newdealseeker on February 29, 2016, 06:49:40 PM

So why is everyone afraid of it? I.E. when you anticipate not passing an Amex FR the consensus was that it's better to close your cards before they do, no?

by an Amex FR ,the point you should close it is ,in order to be able to get reapproved ay amex

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Author Topic: credit score (Read 829792 times)