I'm taking a much needed break from anything credit related. As you may know I applied for a generations refi on Tuesday and I asked for a recon today, things looked well until I received this email: Kellie, I have re-reviewed your application for credit and wanted to explain what we are using as criteria. First of all, your original request for a credit card was denied, not just due to score, but due to the adverse history you have. This history is also referred to in the copy of your report that you sent us. The credit score we use is a Fair Isaac credit score and although we obtained the information from Trans Union and you have received a credit score from Trans Union, the two are not the same. The Trans Union "Consumer report" uses a scale from 150-934 and your score is 693. The Fair Isaac Score that we use ranges from 150-850 and your score came in at 629. We do not approve applications for credit under 650. As a result, we will not be able to fulfill your request for the credit card or the auto loan. I hope this clarifies the situation. Michael Laughlin, VP Chief Lending Officer That was the straw that broke the camels back. I really need to refi my car, but I can't take anymore denials, or inquries for that matter. I can dispute the inquiries off TU, but just the thought of further dealing with these morons makes me insane. BTW the adverse info they are talking about is a 120 day late from 1/98, I hope this helps others wondering what the exact criteria may be...... see you all soon!
I hear you. The TU scores are fake. Your score is less than 650. They don't bend the rules. Aye, such is life. Sucks the only way they will re-fi auto loans is with direct debit of Generations account too.
KHM, sorry you are having troubles with TU. Take a break, you will feel better after a while. That was a nice letter you got, though. I like the way that bank treats people!! They didn't blow you off.
KHM, You aren't your credit score no matter what they'd have you believe or how many hoops they toss. Breathe and relax, I'll miss your wise posts and insights and hope you'll return.
I agree. That was a very professional, hands-on, no-BS response. (Re)building credit takes time, patience and the understanding that until you reach your goal, you are bound to get denials every now & then. Instead of pissing you off, they should be used as pointers, showing you the way to the land of better credit. Sorry, no miracles offered here, just resistance, persistence, knowledge and lots of good people willing to help. Saar
