Reply
Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008

PenFed Scoring model?

Over a year ago I remember getting a message for a denial from Penfed sating my score was 846 on a range of 150-950

 

I know it's EQ. Is it an internal version of their EQ? Risk Score?




New Contributor
patrick00032001
Posts: 58
Registered: ‎02-18-2008

Re: PenFed Scoring model?

PenFed uses a Pinnacle 2.0 scoring model by Equifax, same as Alliant credit union, this formula was designed to help lenders have an understanding of what risk the customer may have defaulting on a loan with in the next 24 months.

Discover IT $11,000, Chase Freedom $16,000.00, Macy's Amex $7,000, Sears Mastercard $10,000.00, Citi Dividend AMEX $5,000.00, Citi Dividend World Mastercard $6,500.00, Wal-Mart DC $7,500.00, Kohl's $2,500.00, JC Penny's $7,500.00, 3 Rivers FCU Visa Platinum $20,000.00, Local Bank Gold Visa $5,000.00, Help Card $4,000.00, USAA Platinum Mastercard $32,000.00, United Federal Credit Union Gold Visa $5,000.00, Home Depot $22,000.00, Lowe's $15,000.00, Blue Cash Everyday, $12,000.00, PenFed Promise Visa $10,500.00, Duck Card $20,000.00, US Bank Kroger $17,000.00, Value City Furniture $10,000.00, PNC Points Visa Signature $15,000.00, TU 767, Eq 744, Exp 757


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+