topic Re: Does Navy Federal use FICO EQ9 or TU9 for car loans? in Auto Loans

Does Navy Federal use FICO EQ9 or TU9 for car loans?

Mad12345 — Sat, 31 Oct 2020 10:45:28 GMT

Hello, I'm fairly new to the FICO boards. I am thinking of buying a car next June. My chapter 13 is due to fall off all of my CR the end of May 2021. My scores are right at 700 for all 3 bureaus (EQ 689-EX 695-TU 701). I'm assumimg that I will get a score boost when the BR comes off. and I have 1 bad account on EQ that should roll off at the same time IIB. My TU auto 9 is 711 and my EQ auto 9 is 687. As you can see my TU score is higher. I'm hoping to be above 740 by June. Can anyone help me with this question please?

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

OmarGB9 — Sat, 31 Oct 2020 16:21:34 GMT

They used to use EQ, but now they've moved to TU9 for all credit products.

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

Mad12345 — Sun, 01 Nov 2020 00:46:13 GMT

Thank you for your help. I have my eye on a 2017 Lexus LS 460. It feels good to be getting myself back on track. Can't wait to look at my Cr and not see BR chapter 13.

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

Flexfanatic — Sun, 01 Nov 2020 16:09:07 GMT

@OmarGB9 wrote:
They used to use EQ, but now they've moved to TU9 for all credit products.

To clarify, are you saying they use Auto Score 9 for auto loans and something like a credit card approval would use Bankcard 9?

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

Mr_Mojo_Risin — Sun, 01 Nov 2020 16:26:15 GMT

I believe they've switched to TU for credit apps. Back in September I was approved for a car loan from them and they pulled my EQ5.

I was kinda surprised cause I always heard it was EQ9 for auto loans.

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

Mad12345 — Sun, 01 Nov 2020 19:48:35 GMT

I'm looking to but a car when my BR rolls off. I'm hoping for a good score bump whe that happens.

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

OmarGB9 — Tue, 03 Nov 2020 09:35:15 GMT

@Flexfanatic wrote:
@OmarGB9 wrote:
They used to use EQ, but now they've moved to TU9 for all credit products.
To clarify, are you saying they use Auto Score 9 for auto loans and something like a credit card approval would use Bankcard 9?

I'm not entirely sure which version of TU9 they use for each. I believe it's just regular TU09. No bankcard or auto enhanced.

Re: Does Navy Federal use FICO EQ9 or TU9 for car loans?

BessTruman — Fri, 06 Nov 2020 03:47:50 GMT

@Mr_Mojo_Risin wrote:
I believe they've switched to TU for credit apps. Back in September I was approved for a car loan from them and they pulled my EQ5.
I was kinda surprised cause I always heard it was EQ9 for auto loans.

I spoke to NFCU today and they told me they pull TU.