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A couple of DCU questions

DGF is a member of DCU. Her EQ FICO score here is 685 but on DCU it says 757 huge difference. Question one is MyFico EQ score more accurate or is the DCU EQ FICO more accurate? Does lenders use either score? Second question she saw her 757 FICO from DCU and applied for a VISA card. No instant approval or denial but a message saying a DCU rep will be contacting her soon and the app is in a pending status. Does this lean more towards a approval or denial? There is also a flashing icon saying new message from lender but she checked her inbox and nothing and when she hits the message button there is no blue message from the instution(maybe because it was at 12:30 A.M.?) Sorry for all the questions she is excited but I dont want her to get her hopes up so if anyone has been through this what has been the outcome in a situation like this? TIA

In garden as of 04-06-14 to 12/01/14

Starting score EQ MyFico 646 11/29/13 Current 691 EQ MyFico SW 04/03/14
Starting score EX MyFico 657 12/01/13 Current 686 EX MyFico 03/01/14
Starting score TU MyFico 627 12/02/13 Current 696 Barkclay 03/26/14
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Re: A couple of DCU questions

[ Edited ]

pembrokepride wrote:

DGF is a member of DCU. Her EQ FICO score here is 685 but on DCU it says 757 huge difference. Question one is MyFico EQ score more accurate or is the DCU EQ FICO more accurate? Does lenders use either score? Second question she saw her 757 FICO from DCU and applied for a VISA card. No instant approval or denial but a message saying a DCU rep will be contacting her soon and the app is in a pending status. Does this lean more towards a approval or denial? There is also a flashing icon saying new message from lender but she checked her inbox and nothing and when she hits the message button there is no blue message from the instution(maybe because it was at 12:30 A.M.?) Sorry for all the questions she is excited but I dont want her to get her hopes up so if anyone has been through this what has been the outcome in a situation like this? TIA


For many years the scores were the same; however, my understanding is that Equifax is updating their products and it's possible that DCU is on Beacon 9 now.

 

Unfortunately I can't tell directly because I'm waiting for a silly lien to come off, but traditionally the score here has been identical for mortgages (as was DCU's) but Beacon 9 is more appropriate for credit cards as some lenders use that score directly, or the bankcard-enhanced version... both of which weight things differently than the older models in my anecdotal experience.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Re: A couple of DCU questions


Revelate wrote:

pembrokepride wrote:

DGF is a member of DCU. Her EQ FICO score here is 685 but on DCU it says 757 huge difference. Question one is MyFico EQ score more accurate or is the DCU EQ FICO more accurate? Does lenders use either score? Second question she saw her 757 FICO from DCU and applied for a VISA card. No instant approval or denial but a message saying a DCU rep will be contacting her soon and the app is in a pending status. Does this lean more towards a approval or denial? There is also a flashing icon saying new message from lender but she checked her inbox and nothing and when she hits the message button there is no blue message from the instution(maybe because it was at 12:30 A.M.?) Sorry for all the questions she is excited but I dont want her to get her hopes up so if anyone has been through this what has been the outcome in a situation like this? TIA


For many years the scores were the same; however, my understanding is that Equifax is updating their products and it's possible that DCU is on Beacon 9 now.

 

Unfortunately I can't tell directly because I'm waiting for a silly lien to come off, but traditionally the score here has been identical for mortgages (as was DCU's) but Beacon 9 is more appropriate for credit cards as some lenders use that score directly, or the bankcard-enhanced version... both of which weight things differently than the older models in my anecdotal experience.


Thank you for the reply. In your opinion does it look favorable for her with the approval because it says rep will contact you soon or is that a bad sign? Hard to tell with no instant denial or approval.

In garden as of 04-06-14 to 12/01/14

Starting score EQ MyFico 646 11/29/13 Current 691 EQ MyFico SW 04/03/14
Starting score EX MyFico 657 12/01/13 Current 686 EX MyFico 03/01/14
Starting score TU MyFico 627 12/02/13 Current 696 Barkclay 03/26/14
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Re: A couple of DCU questions


pembrokepride wrote:

Revelate wrote:

pembrokepride wrote:

DGF is a member of DCU. Her EQ FICO score here is 685 but on DCU it says 757 huge difference. Question one is MyFico EQ score more accurate or is the DCU EQ FICO more accurate? Does lenders use either score? Second question she saw her 757 FICO from DCU and applied for a VISA card. No instant approval or denial but a message saying a DCU rep will be contacting her soon and the app is in a pending status. Does this lean more towards a approval or denial? There is also a flashing icon saying new message from lender but she checked her inbox and nothing and when she hits the message button there is no blue message from the instution(maybe because it was at 12:30 A.M.?) Sorry for all the questions she is excited but I dont want her to get her hopes up so if anyone has been through this what has been the outcome in a situation like this? TIA


For many years the scores were the same; however, my understanding is that Equifax is updating their products and it's possible that DCU is on Beacon 9 now.

 

Unfortunately I can't tell directly because I'm waiting for a silly lien to come off, but traditionally the score here has been identical for mortgages (as was DCU's) but Beacon 9 is more appropriate for credit cards as some lenders use that score directly, or the bankcard-enhanced version... both of which weight things differently than the older models in my anecdotal experience.


Thank you for the reply. In your opinion does it look favorable for her with the approval because it says rep will contact you soon or is that a bad sign? Hard to tell with no instant denial or approval.


I think either score will get her a DCU credit card.  DCU is pretty paperwork intensive, delays on approval aren't uncommon at all.  While I personally talk to them about every single loan I have ever acquired (and probably will continue to do so) they've wanted a lot more information than any other creditor I've worked with.  I'm more than happy with them though, it's a small price to pay in my case.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Re: A couple of DCU questions

Revelate...I was asking this same question about the Fico Version that DCU uses in another thread.

 

I applied for membership today and did a car refinance app at the same time hoping to get the 1.99 take with my EQ from here at 696. They approved me but only at 5.49 and they said my EQ they pulled was 656.

 

I decided not to do the refi because it's not enough savings to add a new account.

 

 


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Re: A couple of DCU questions


IWOL wrote:

Revelate...I was asking this same question about the Fico Version that DCU uses in another thread.

 

I applied for membership today and did a car refinance app at the same time hoping to get the 1.99 take with my EQ from here at 696. They approved me but only at 5.49 and they said my EQ they pulled was 656.

 

I decided not to do the refi because it's not enough savings to add a new account.

 

 


Question for you, do you know any of your '08 scores vis a vis the EX from here or a TU from any number of credit cards now?  Second is the data between your reports the same?  Actually, better question: did you get a score range in addition to the score?

 

We've never heard one way or the other as to whether DCU uses an auto-enhanced score or not for their auto lending, but from your experience it's likely not a baseline Beacon 5.0 score.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Re: A couple of DCU questions

My TU from Barclays is at 702. There is some strange stuff going on with my scores right now because FP just did an updat on an old charge off from 2009 and it is now beimg treated as a recent delinquincy. For some reason EX on here got dinged hard from 653 to to 630 but my EQ stayed at 696 here and my TU 98 went up from 698 to 703.

 

 

All the the data across my 3 reports is identical except for one 18 year old account that is closed and still reporting on EX but not on TU or EQ. EX should be my highest score....oldest account by 10 years and higher AAoA yet it's actually my lowest.

 

I also just requested a CLI on my OLC with Cap 1 and they gave me an EQ score of 636.

 

First Premier is really messing with my scores right now. I think I poked them 1 to many times.

 

 


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Re: A couple of DCU questions

I asked the CSR at DCU if she new which version of EQ it was and she said Beacon 5 but she didn't seem to know what she was talking about. I asked if it was an auto enhanced score since that pull was for an auto app and she said no.

 

She did not tell me a score range. I told her that. I had just pulled my score from Fico and that they use Beacon 5 and my score was 696. She said oh that's a Fico, we use Beacon score....I laughed and said, no Beacon 5 is a version of Fico.....then silence from her.


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Re: A couple of DCU questions


IWOL wrote:

I asked the CSR at DCU if she new which version of EQ it was and she said Beacon 5 but she didn't seem to know what she was talking about. I asked if it was an auto enhanced score since that pull was for an auto app and she said no.

 

She did not tell me a score range. I told her that. I had just pulled my score from Fico and that they use Beacon 5 and my score was 696. She said oh that's a Fico, we use Beacon score....I laughed and said, no Beacon 5 is a version of Fico.....then silence from her.


Heh, to be fair that CSR knew more than many I've dealt with from other lenders.  Beacon what?   Smiley Happy

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Re: A couple of DCU questions

As of a couple of weeks ago, my Equifax score from DCU and my Equifax score from MyFico were identical. If DCU has changed the version of FICO scoring that they are using, it must have been very recently.

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