So Penfed doesn't use Fico?

Yodah · ‎03-27-2015

I was approved for a Promise card with them, limit was low with a good APR 1K @13.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh

chalupaman · ‎03-27-2015

@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh

Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down

Anonymous · ‎03-27-2015

@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.

The NextGen version that they use also goes to a scale of 950. It is a FICO score that was introduced in 2001 but very few lenders use it besides PenFed

Yodah · ‎03-27-2015

@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.

Who knows.... it is however closer to what CK has which is a 681 for EQ....

Anonymous · ‎03-27-2015

@Yodah wrote:
@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.
Who knows.... it is however closer to what CK has which is a 681 for EQ....

It's just a coincidence that it's close to CK. Completely different scores. The PenFed is a FICO score even if it isn't used much and CK uses Vantage Score

Anonymous · ‎03-27-2015

@Anonymous wrote:
@Yodah wrote:
@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.
Who knows.... it is however closer to what CK has which is a 681 for EQ....
It's just a coincidence that it's close to CK. Completely different scores. The PenFed is a FICO score even if it isn't used much and CK uses Vantage Score

Where could one see their Nextgen FICO score, not counting PenFed?

Anonymous · ‎03-27-2015

@Anonymous wrote:
@Anonymous wrote:
@Yodah wrote:
@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.
Who knows.... it is however closer to what CK has which is a 681 for EQ....
It's just a coincidence that it's close to CK. Completely different scores. The PenFed is a FICO score even if it isn't used much and CK uses Vantage Score
Where could one see their Nextgen FICO score, not counting PenFed?

Nowhere. They're the only place that gives it out. I still don't see it in my PenFed page so I'm not even sure that they still give it out.

Anonymous · ‎03-27-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Yodah wrote:
@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.
Who knows.... it is however closer to what CK has which is a 681 for EQ....
It's just a coincidence that it's close to CK. Completely different scores. The PenFed is a FICO score even if it isn't used much and CK uses Vantage Score
Where could one see their Nextgen FICO score, not counting PenFed?
Nowhere. They're the only place that gives it out. I still don't see it in my PenFed page so I'm not even sure that they still give it out.

Well that's a bit disappointing. I was looking to apply for a PenFed card in a few weeks thinking my EQ myFICO score would give me a good chance but if they're not even using the score I've been watching, I feel a bit in the dark going forward.

Anonymous · ‎03-27-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Yodah wrote:
@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.
Who knows.... it is however closer to what CK has which is a 681 for EQ....
It's just a coincidence that it's close to CK. Completely different scores. The PenFed is a FICO score even if it isn't used much and CK uses Vantage Score
Where could one see their Nextgen FICO score, not counting PenFed?
Nowhere. They're the only place that gives it out. I still don't see it in my PenFed page so I'm not even sure that they still give it out.
Well that's a bit disappointing. I was looking to apply for a PenFed card in a few weeks thinking my EQ myFICO score would give me a good chance but if they're not even using the score I've been watching, I feel a bit in the dark going forward.

With the scores you have listed, I'm pretty sure you'll be fine. How many new accounts do you have?

Anonymous · ‎03-27-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Yodah wrote:
@chalupaman wrote:
@Yodah wrote:
@I was approved for a Promise card with them, limit was low with a good APR 1K @Anonymous.99..... I got a letter with my Score and it says my score is a 684... which is clearly NOT my FICO which was and still is 717..... No wonder the limit is low...smh
Maybe it's their Nextgen FICO that you saw there. It's on a different scale than FICO 08 too.
Who knows.... it is however closer to what CK has which is a 681 for EQ....
It's just a coincidence that it's close to CK. Completely different scores. The PenFed is a FICO score even if it isn't used much and CK uses Vantage Score
Where could one see their Nextgen FICO score, not counting PenFed?
Nowhere. They're the only place that gives it out. I still don't see it in my PenFed page so I'm not even sure that they still give it out.
Well that's a bit disappointing. I was looking to apply for a PenFed card in a few weeks thinking my EQ myFICO score would give me a good chance but if they're not even using the score I've been watching, I feel a bit in the dark going forward.
With the scores you have listed, I'm pretty sure you'll be fine. How many new accounts do you have?

All of them, really, lol. My BofA Visa is from August 2014, AMEX Everyday from January 2015 (but backdated to January 1999 so that helps my AAoA), BofA auto loan also from January 2015, and Eddie Bauer from February 2015.