I have a 460 credit score, how is that possible?

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khchbh2012
 
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Joined: Wed Dec 26, 2012 8:10 pm
Location: Alabama

I have a 460 credit score, how is that possible?

Postby khchbh2012 » Fri Nov 08, 2013 11:18 am

A few months ago I applied for a PayPal Credit Card I was turned down for the credit card but approved for the PayPal store card. GE Capital Retail Bank sent me a two page letter citing my accounts were too new (I am trying to build credit).

What caught my eye was what they reported as my credit score. They reported a credit score of around 460 (463) from Transunion. A month previous to this letter I pulled my credit reports and credit scores from all three agencies. My credit scores were in the high 600 with TU being 694.

Can someone explain to me how GE shows a score of 463 and my TU score is 694?
Is GE using their own scoring system?


MemberSince99
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Postby MemberSince99 » Fri Nov 08, 2013 2:43 pm

They have to be - if that was a FICO there is NO way you would have gotten approval, as a 460 FICO is somewhere between "embarrassing" and "horrible". On a FICO it's possible to have a 350 though the lowest I've seen people have is about 500 or into the high 400s. So I would say it's a safe bet that's on GE's scale and can't be a FICO score.

I'm sure they pulled TU to get credit information but then they could have their own scale where the 463 is from.

khchbh2012
 
Posts: 2
Joined: Wed Dec 26, 2012 8:10 pm
Location: Alabama

Postby khchbh2012 » Sat Nov 09, 2013 6:45 pm

Thanks for clearing that up. On a good note today I just got an increase from Paypal to $2000. I did not know GE has their own score system.



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