topic Re: NFCU No longer using Equifax in Personal Finance

NFCU No longer using Equifax

Anonymous — Mon, 19 Oct 2020 16:09:23 GMT

I came across some information that Navy Federal stopped using equifax for loans and cli on October 1st 2020 and from now on will only be using transunion for all decisions with any of their products if so that means l can apply for a loan get 1 hp and also use that hp to apply for a cc as well? Correct me if I'm wrong.

Re: NFCU No longer using Equifax

Brian_Earl_Spilner — Mon, 19 Oct 2020 16:11:06 GMT

There are no datapoints for that yet that I'm aware of, but it's possible if they want to allow it.

Re: NFCU No longer using Equifax

ldkcivilservant — Mon, 19 Oct 2020 16:21:29 GMT

I can't see it happening. Navy has always been hard pull happy, even for CLIs (until recently)

Re: NFCU No longer using Equifax

Brian_Earl_Spilner — Mon, 19 Oct 2020 16:33:00 GMT

@ldkcivilservant wrote:
I can't see it happening. Navy has always been hard pull happy, even for CLIs (until recently)

I think the issue is the systems. I've received multiple hard pulls on the loan, auto, cloc side even when it's only been a few hours, while I've had a single hard pull for multiple credit card apps. According to them, the system will try to match you to a previous pull. If it can't, a new one is done.

I guess we could track if apps and requests were done in person, online, or on the phone. It may be like the shopping cart trick where if one rep put "Street" while another put "St", the system wouldn't recognize it's the same person because it doesn't 100% match.

Re: NFCU No longer using Equifax

AverageJoesCredit — Mon, 19 Oct 2020 17:34:44 GMT

@Anonymous wrote:
I came across some information that Navy Federal stopped using equifax for loans and cli on October 1st 2020 and from now on will only be using transunion for all decisions with any of their products if so that means l can apply for a loan get 1 hp and also use that hp to apply for a cc as well? Correct me if I'm wrong.

Navy hps are not reusable. They still like to hp for each credit product though there can be a few exceptions

Re: NFCU No longer using Equifax

Jannelo — Mon, 19 Oct 2020 18:16:59 GMT

@Anonymous wrote:
I came across some information that Navy Federal stopped using equifax for loans and cli on October 1st 2020 and from now on will only be using transunion for all decisions with any of their products if so that means l can apply for a loan get 1 hp and also use that hp to apply for a cc as well? Correct me if I'm wrong.

So then you would think the FICO 9 they provide you every month would now be a TU score, not Equifax. On October 3rd, my Equifax 9 score updated on the NFCU site.

Re: NFCU No longer using Equifax

M_Smart007 — Mon, 19 Oct 2020 18:33:39 GMT

@Anonymous wrote:
I came across some information that Navy Federal stopped using equifax for loans and cli on October 1st 2020 and from now on will only be using transunion for all decisions with any of their products if so that means l can apply for a loan get 1 hp and also use that hp to apply for a cc as well? Correct me if I'm wrong.

I have read a few DP's of NFCU using TU now. (not just new CC's)

One poster stated Sept. when Inquired of them.

Maybe @AllZero , can find the post?

Re: NFCU No longer using Equifax

Anonymous — Mon, 19 Oct 2020 19:36:17 GMT

Just because they're giving you a free equifax credit score doesn't mean anything I said their products loans cc etc..

Re: NFCU No longer using Equifax

AllZero — Mon, 19 Oct 2020 20:35:12 GMT

@M_Smart007 wrote:
@Anonymous wrote:
I came across some information that Navy Federal stopped using equifax for loans and cli on October 1st 2020 and from now on will only be using transunion for all decisions with any of their products if so that means l can apply for a loan get 1 hp and also use that hp to apply for a cc as well? Correct me if I'm wrong.
I have read a few DP's of NFCU using TU now. (not just new CC's)
One poster stated Sept. when Inquired of them.

Maybe @AllZero , can find the post?

@M_Smart007. I couldn't find that post. If I come across it, I'll post up.

Re: NFCU No longer using Equifax

AllZero — Tue, 20 Oct 2020 01:32:03 GMT

@M_Smart007 Found it. Navy Federal Credit Union

Re: NFCU No longer using Equifax

Anonymous — Tue, 20 Oct 2020 01:54:59 GMT

Thank you for finding that.

Re: NFCU No longer using Equifax

AllZero — Tue, 20 Oct 2020 02:17:46 GMT

@Anonymous wrote:
Thank you for finding that.

You are welcome.

Re: NFCU No longer using Equifax

M_Smart007 — Tue, 20 Oct 2020 04:26:53 GMT

@AllZero wrote:
@M_Smart007 Found it. Navy Federal Credit Union

@AllZero, Thank You!

I searched but could not find it.

Probably was not searching the right part of the forum.

Re: NFCU No longer using Equifax

AllZero — Tue, 20 Oct 2020 04:44:15 GMT

@M_Smart007 wrote:
@AllZero wrote:
@M_Smart007 Found it. Navy Federal Credit Union
@AllZero, Thank You!
I searched but could not find it.
Probably was not searching the right part of the forum.

@M_Smart007 Using my mobile didn't make the search function easy. Once on laptop, it was easier to find. Plus, it helped that you mentioned the month to narrow the search.

Re: NFCU No longer using Equifax

spiritcraft1 — Wed, 21 Oct 2020 15:44:12 GMT

This seems to be the case but when we see the switch the monthly FICO to TU 09, it will be a definite sign.

Re: NFCU No longer using Equifax

Girlzilla88 — Wed, 21 Oct 2020 15:57:32 GMT

There has been several confirmed people that said they Pulled TU for different things I'm happy for the change hopefully it sticks

Re: NFCU No longer using Equifax

spiritcraft1 — Wed, 21 Oct 2020 16:22:02 GMT

Since NFCU has basically stopped doing HP's for CLI's and since not many lenders pull TU comparatively, it is a very good thing. I still have 5 wasted TU HP's for failed NFCU CLI attempts that are now all over a year old. I would have 4 more this year if not for their switch to SP's.