Qualifile/Chexsystems either isn't understanding my question or else is being intentionally unhelpful.
We utilize Qualifile in our determination of opening a deposit account. Therefore, we are going to begin providing the Qualifile score and range of scores on the adverse action notices we provide, as required under FCRA. Our core system told us that the 'range' is not something they can pull in, and so I contacted Qualifile to obtain the range. They told me that the range is 100-899, with 100 being the worst. All good so far, right?
HOWEVER.
When we get a 'decline' from Qualifile, the score reported is almost always 9992. I have only been able to find 1 circumstance that this was not the case. Qualifile is insistent (through many emails) that the range is 100-899, and quite frankly I do not understand how this can be with all the 'decline' 9992 scores we have. I am bothered to disclose to potential clients that scores range from 100-899 but yet their score was 9992.
I'm clearly missing something here. Has anyone else ran into this? If so how have you handled it?