Penfed changing to FICO 9

sueblue34 · ‎08-21-2017

Just an update if it hasnt been posted elsewhere. I spoke to Penfed today regarding products and got to speaking to a loan office who advised me that as of Sunday 8/20/17 they are changing to FICO 9 and Looking for credit scores with 670+. They are staying with 90 day time frame of requirement on pulls

Anonymous · ‎08-21-2017

Thanks for the info. Do you happen to know which CRA PenFed uses?

sueblue34 · ‎08-21-2017

EQ

Anonymous · ‎08-27-2017

where would you find fico scores. werent they using nextgen scores.

sueblue34 · ‎08-27-2017

Yes there were but not any longer. Over the next couple of weeks it will be loaded onto your dashboard.

Anonymous · ‎08-31-2017

So pretty much at this point as long as your EQ is say 680+ and clean or close to clean then you're good for CC's, auto loans, etc? My EQ has 1 collection that im hoping has dropped off by now. and almost at 700

sueblue34 · ‎08-31-2017

I think it's all depends on your overall profile. Since the change is so new it's entirely to early to really determine. In addition we don't know as of yet what's others are being denied or approved for since the change. We def need to start a new thread to start monitoring the changes so we can bounce off of each under with the new requirements

Anonymous · ‎08-31-2017

Good info. and thanks for sharing...

Anonymous · ‎08-31-2017

They pulled me at 700. I had one nuisance medical from 5 years ago that was marked unpaid for $56. They rejected me. I called for a phone recon and they said they do not reconsider anyone over the phone ever.

BurgeoningHope · ‎08-31-2017

@Anonymous wrote:
They pulled me at 700. I had one nuisance medical from 5 years ago that was marked unpaid for $56. They rejected me. I called for a phone recon and they said they do not reconsider anyone over the phone ever.

I wonder if that will change once they've finished their switch to FICO 9. So long as you pay it, it will no longer count against you in the scoring. I have one of those too, same age, and it's killing my TU. I'm considering paying it, which angers me because it shouldn't be there at all. But at $50 it might be worth it just to put it behind me. Especially under FICO 9.