Penfed Fico 9

[Anonymous]

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@gurusexy wrote:

Not sure if I just missed it because I havent seen anyone talking baout it? Just checked my Penfed score and it says Penfed has switched from NextGen to Fico 9? Any one know if they are using Fico 9 now for application decisions?

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YAY! My score jumped 65 points! I was denied a car loan for the amount requested and then they cited my credit was too young. Gonna try again at end of year for my dream car!

[mrldp40]

Called in my fico 09 is 610 up from 550 nexgen 2 score she was unsure why my score wasn't displayed on site .she was also unsure what the minimum 09 score was for credit approval but suggested 660 plus

[Scupra]

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@pizza1 wrote:
Im loving FICO 09!! LOL...PF has me at 717! They last had me at 662 for the next gen score CLI time? I think so, LOL

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Oh my gosh, same here! My FICO 9's are 760 ish

[credit_endurance]

Tired of waiting on PenFed to reveal my Fico 9 scores so dropped them an email and recieved the following:

"

Thank you for contacting PenFed.

We have recently update our FICO score model. This has caused FICO scores to
become unavailable while displaying the following message: "999" or missing
values in the Credit Score field on the Member Detail Inquiry screen. Your
scores should become available in mid-September when new scores are pulled.

We apologize for any inconvenience.

Please feel free to reply if you need further assistance.

Sincerely,
PenFed Credit Union

So so looks like a few of us will have to wait a little longer for our scores unfortunately

[Meanmchine]

The problem with everyone now having 700+ scores, it will only be a matter of time til minimum requirements will rise to 760+

[Appleman]

Or, they were looking for creative ways to increase membership and product approvals....

Higher scores available and more approvals could mean more money in the short term. If the default rate goes up, they may revisit and raise the min. score. 

Just a wild guess.

[pizza1]

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@Scupra wrote:

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@pizza1 wrote:
Im loving FICO 09!! LOL...PF has me at 717! They last had me at 662 for the next gen score CLI time? I think so, LOL

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Oh my gosh, same here! My FICO 9's are 760 ish

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shup up!  Seriously!! Thats awesome!! 

All of sudden Im thinking back to Waynes World (but more in a BK sense)...."we're not worthy, we're not worthy"!!  LOL

[Anonymous]

Mine is 718 ! From 675 penfed next gen score Eq fico 09 apparently. My Eq fico 08 must be 691 or something

[Total80sKid]

My Fico 9's are quite lower than my Fico 8's.

Why do things always seem to change when I seem to find something good?

[K-in-Boston]

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@Total80sKid wrote:

My Fico 9's are quite lower than my Fico 8's.

Why do things always seem to change when I seem to find something good?

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No kidding!  So it looks like it's just me, you, and Irish80 suffering here.  At least Irish has some kind or delinquency error going on with his; what's our excuse?  For me I can only speculate that utilization is being penalized on otherwise squeaky clean reports much heavier on 09 than on 08 scores, and like my 08 scores I'm being hit for a handful of new accounts in the past 6 months.  We're all in different buckets so it's really hard to get a handle on how and why things are handled differently.  Vantage score models hate my profile even worse!

The good news for the handful of us is that so far it seems that NFCU and PenFed are the only two to be using the 09 scores, and we know that they both have fairly lenient underwriting standards.  For the majority of people here, this is going to be a very welcome change.