Anyone know what version of EQ DCU uses?
I just applied for memebership with chekcing and savings and then I called to apply for an Auto refi hoping to get the 1.99% rate.
They approved me but rate is 5.49 and they told my EQ score is 652. My EQ score from here is 696, pulled yesterday.
The CSR is telling me they use Beacon score, isint that the same as the model used here?
Now I feel like it was all a waist of 2 hard pulls. My current loan rate is 7.29% so its not worth adding a new account for that small savings.
I guess Ill just keep the checking and savings open and apply down the road when my scores are higher.
I was under the impression that DCU provides the same EQ that you get here.
i joined today and did a loan app and they told me my EQ is 652 but here it is 696.
Beacon EQ 04
Thank you. Is that the same version provided here by Myfico?
Two different things.
The score they provide to checking account customers is Beacon 5 (or at least has been historically) is not necessarily the score they're using to make underwriting decisions. One is dictated by what they get from EQ as a third-party product, and the other is selected by them for their risk analysis needs.
If you know the score range it can often be determined what it might be (auto-enhanced for example isn't out of 850 at least on Transunion models and I suspect that holds for EQ/EX too) but it's difficult if they just give you a score and don't tell you the version / number / industry option to correlate.
Beacon is the family of Equifax FICO products, but there's the Beacon 5 found here, the Beacon 9 (FICO '08) and a slew of industry options for both which skews things.
ETA: the EQ version here is currently Beacon 5.0. My DCU score has traditionally always matched my pulls here and Scorewatch when I've used it.
@ssssg wrote:
Same boat. I got my free fico eq with dcu yesterday at 645 the same day myfico eq gave me 682. I thought I stood a chance on the 1.99% auto loan rate. Guess I'll just have to wait and increase my score more to avoid hardpulls. Thanks for your post.
DCU and myFICO have been dead on for me. Sorry it didn't work out for you.
@ssssg wrote:
09 lexie, Does the dcu fico get the actual day score or is it the days (not more than 7 days) score? The myfico score of 645 was my score 3 days ago before it bumped to 682. Tnx
Current members have their CS updated during the last week of the month. I believe they pull that Tues and post on your account that Fri.