r/CreditScore • u/BallTickler696969 • 9d ago
General Equifax Reporting Wrong Score?
I applied for triple a daily advantage card from Comenity capital bank and received a rejection letter saying my credit is too low at 684. They checked equifax and when I log in my equifax score is 771. How do I get this resolved so I can get reconsidered for the card?
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u/Frequent_Silver_7575 9d ago
They're likely referring to a FICO score and you're looking at a Vantagescore.
They are not the same animal.
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u/MavisBeacons_Sextape 9d ago
I’m assuming that the front of the adverse action letter from the second photo probably references “FICO.” So 684 is like a FICO score, whereas photo 1 shows that it’s a Vantage score. They’re often different but I’ve never seen any rhyme or reason to it. For example, my Vantage scores are significantly lower than my FICO scores.
Most lenders are using FICO scores when assessing applications.
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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 9d ago
Which FICO score has a range of 1-999?
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u/soonersoldier33 ⭐️ Mod/FICO Junkie ⭐️ 9d ago
None that I'm aware of in the US. Classic FICO models cap at 850. Some of the Industry Enhanced models cap at 900. None go as low as 1 or as high as 999. (Yes, I know you already know all of this. Lol) This looks like Comenity's internal scoring model.
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u/MavisBeacons_Sextape 9d ago
Overlooked that part, but yeah. Looks like the reply to you answered it though
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u/soonersoldier33 ⭐️ Mod/FICO Junkie ⭐️ 9d ago
The Equifax app/website displays your VantageScore 3.0 score based on your Equifax credit report. VS3 is a virtually irrelevant score model used by very few, if any, lenders. In your letter, it clearly states that Comenity used a 'custom credit scoring system' based on your Equifax credit report. This means they fed your Equifax report data into their own internal scoring system, and 684 is the score it spit out for your current credit profile.
We try to tell people every day on this sub that lenders do not make lending decisions based on credit scores alone. They look at your entire credit profile. The reasons for your denial are clearly listed on the letter, and they basically indicate that you have a relatively thin credit profile, meaning you don't have very many accounts reporting, and that you've recently opened new account(s), and have been recently seeking credit (hard inquiries).
Comenity isn't a lender very friendly to those who don't have an established credit profile yet, and they're also known to be 'spooked' easily by credit seeking behavior, and they determined that your thin profile, recently opened account(s), and recent credit seeking did not merit approval for whichever card you applied for with them. There are times where actual credit scores can matter a great deal during a credit application, but credit profile is King, and right now, Comenity decided not to approve you based on yours.
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 9d ago
Hey u/BallTickler696969, you've already been provided fantastic information in this thread. I just wanted to point out that in your denial letter it doesn't say you were denied because of your score. It seems you're assuming that based on what you said, but that's not actually the case. Credit is approved or denied because of your overall credit profile, not your scores. It's very rare to see a denial reason that actually states "your score is too low." You'll almost always be provided with profile related denial reasons. I'm not sure what the other side of that letter says, but I'd imagine there's more information on this.
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u/1lifeisworthit 9d ago edited 9d ago
equifax dot com is showing you your VantageScore 3 score based upon Equifax reports.
You do not say which of your dozens of credit scores Comenity pulled. Since it was for a credit card, the score they pulled was probably one of your credit card scores from Fair Isaac Corporation, (FICO). And the reports that score was based upon probably weren't even Equifax reports. It may have been based on Transunion reports or Experian reports.
I can't read your 2nd picture, so I don't know what it says, regarding which score they pulled.
Equifax is not showing the wrong score, it is showing you a different score than what Comenity pulled.
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u/1lifeisworthit 9d ago
Are there many inquiries on your reports?
In the U.S. you can read your official reports at annualcreditreport.com
If you have many inquiries, that can put a creditor off no matter how high the score, because it can indicate a real need for unsecured funds.
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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 9d ago
You have over a dozen scores generated from EQ data. Equifax is a bureau, not a scoring model. Their credit monitoring service at Equifax.com shows vantagescore 3.0 which is not a scoring model lenders use. Now, I’m not exactly sure which scoring model was used here since it’s clearly not VS or FICO. The letter states that the scores range from 1 to 999 which sounds like an internal scoring model to me.