I think CCAP used Experien to get your score.
Check Experien for your latest score. If this your first lease or finance then that will play into getting Tier 1 or 2.
Thanks for this.
Yes, it is my first lease/finance.
The credit usage after this monthâs (March) statements would be down to $10k. I can make a few more payments to make it go lower but that wouldnât be posted until the next statement (start of April). I am expecting my jeep to be delivered in the next week or two.
But isnât that a very unreasonably large decrease in credit score? direct 56 points down when I only have 2 accounts opened in the past 2 years?
Iâll stay optimistic for now. I guess if needed, Iâll also get a co-signer.
If these are FICO v8 scores: no itâs not an unreasonable drop. In a month you have a hard pull, a new trade line which is probably close to itâs utilization ($2500 on how much credit on that account), with only a 6 year old bureau. You werenât a brick to begin with, and it will settle out in 60-90 days â unfortunate timing.
Are you working through a broker? CCAP has always bought deep, but I donât know how lenient they are right now.
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What score model is this, and what score model will be used to decision and price your lease application?
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CCAP loves them some risky paper.
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I read every exclamation point as the slow, gradual decline from excited to desperate, with the âSend us all of your applicationsâ! being the crescendo of the desperation.
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lol. When ever subprime hits the fan, the tow companies and impound years will be busy!
Itâs Santander⌠risky paper is their business model.
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Both Experian and TransUnion showing a large decrease in credit scores.
From my search, people seem to say that CCAP uses Experian Auto Enhanced Score 8
So your Vantage 3.0 scores are irrelevant, which is almost always the case no matter what type of credit you are seeking. These scores are pretty much worthless.
If you absolutely need to know your Auto-Enhanced FICO 8s, you can purchase them along with a bundle of other scores from either myFICO or Credit dot com.
Make sure you choose the product/package that includes the specific model you need.
I donât know where you can just buy a standalone AE FICO 8.
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I believe he said he hasnât had an auto loan or lease before which I believe plays a large part in CCAPs decision making
Pushing 
, but not the good kind.
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Coming to a BHPH lot near you.
Which credit cards do you have? Depending on the issuer you can request a credit line increase with no hard pull which would bring down your credit utilization.
Also
My scores have always been way higher than what vantage 3.0 says
I wouldnât worry if I were you
The raise/run of my Vantage scores are drastically different when they move. itâs like comparing oranges 
to orange soda.
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I have Chase, Bank of America, USbank, and Wellsfargo.
I was able to increase the credit limit by 6k on one of them. Didnât try the rest.
Chase will update your credit card balance with the credit bureaus mid-cycle if you pay the balance down to $0.
⌠in case youâve obtained your Auto-Enhanced FICO 8s and determined that you need to game the system a little bit. 
The other cards update balances as follows:
Wells Fargo - after your next statement cycle
US Bank - as of the end of each month (regardless of statement cycle)
Not sure if a limit change will force an early update on any of these.
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Thanks for this. I have paid off my Bank of America, USBank, and Chase down to zero. Only WellsFargo left and an additional $2.5k with Samsung. Hopefully, it updates my score a bit.
I am reluctant to pay off WellsFargo cause I am on a 0% APR there and would prefer to pay it later.
Fingers crossed. Who knows, maybe the jeep would remain stuck in the shipping stage long enough for the credit to bounce back up. It has already been 3 weeks in the shipping stage and has been delayed 1 week from the original ETA. 
Having one revolving account with a modest balance is better than no revolving accounts with balances anyway. Itâs actually ideal (as far as FICO is concerned).