Navy Fed Credit score verses Myfico

ethelrose · ‎06-18-2015

So strange, my hubby just applied for a loan with Navy Fed and he got approved but the score they stated that he has is significantly lower than the Myfico score. He is showing as having a 628 score with Myfico but a 579 from the score that Navy Fed used. Why such a huge discrepancy? I am totally confused.

Starting Score: 556
Current Score: 604
Goal Score: 685

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Anonymous · ‎06-18-2015

What type of loan was it?

empiror22 · ‎06-18-2015

short answer is that navy fed uses one of the fico scores that is not fico 8. fico 8 is the one you see listed, they could use about 8 other scores that are all fico and available via purchase of a new 3 bea pull or maybe a single CRA pull.

needtodobetter · ‎06-18-2015

For their credit cards, they use EQ Bankcard Fico 5 - mine is about 100 pts less than my FICO 08. I was bummed. I just got their secured card though and have several baddies coming off in the next few weeks. I hope to be able to get their regular card in 6 months or so.

Congrats on the loan approval.

05/01/15: EQ 519 TU 541 EX 506
10/28/15: EQ 637 TU 646 EX 622
First Goal Score: 600
Second Goal Score: 640

ethelrose · ‎06-18-2015

Alright many thanks! That makes sense.

Starting Score: 556
Current Score: 604
Goal Score: 685

Take the FICO Fitness Challenge

Anonymous · ‎06-18-2015

@needtodobetter wrote:
For their credit cards, they use EQ Bankcard Fico 5 - mine is about 100 pts less than my FICO 08. I was bummed. I just got their secured card though and have several baddies coming off in the next few weeks. I hope to be able to get their regular card in 6 months or so.

Congrats on the loan approval.

Thanks for the info, my EQ bankcard 5 is 37 pts higher than my 8.