topic Re: What FICO model does PenFed use? in Credit Cards

What FICO model does PenFed use?

willwar14 — Wed, 27 Jan 2016 18:39:52 GMT

Fico 4? im just curious..

Re: What FICO model does PenFed use?

ddemari — Wed, 27 Jan 2016 18:54:44 GMT

PenFed Use Fico NextGen Score with a range of 150-950.

They are pretty much the only lender I know of using it. U cant request it anywhere, but if you are a member of PenFed and have a CC or other type loan product or Access America checking, they give it to you every quarter.

Re: What FICO model does PenFed use?

willwar14 — Wed, 27 Jan 2016 19:01:35 GMT

You can't get it using myFICO's models they give you? if you buy their service?

Re: What FICO model does PenFed use?

Anonymous — Wed, 27 Jan 2016 19:07:55 GMT

@willwar14 wrote:
You can't get it using myFICO's models they give you? if you buy their service?

No, the only way to get the score is via PenFed

Re: What FICO model does PenFed use?

mitchblue — Wed, 27 Jan 2016 19:27:24 GMT

Never understood why they use Fico NextGen but when you app with them they pull your Fico 8. Is there a reason I'm not aware of?

Re: What FICO model does PenFed use?

ddemari — Wed, 27 Jan 2016 19:29:29 GMT

The score I have received from PenFed products was the NextGen Fico.

Re: What FICO model does PenFed use?

Anonymous — Wed, 27 Jan 2016 19:34:44 GMT

@mitchblue wrote:
Never understood why they use Fico NextGen but when you app with them they pull your Fico 8. Is there a reason I'm not aware of?

How do you know that they are pulling Fico 08? All you see is an inquiry being done on your credit report. That could be Fico 08, Fico. 04 , Fico NextGen or even Fico 98

Re: What FICO model does PenFed use?

mitchblue — Wed, 27 Jan 2016 19:34:38 GMT

@Anonymous wrote:
@mitchblue wrote:
Never understood why they use Fico NextGen but when you app with them they pull your Fico 8. Is there a reason I'm not aware of?
How do you know that they are pulling Fico 08? All you see is an inquiry being done on your credit report. That could be Fico 08, Fico. 04 , Fico NextGen or over Fico 98

I know I have my reports frozen so when I apped with them they told me (I forgot to temp unfreeze) They said I need to unfreeze Equifax. I just assumed it was Fico 08. Maybe I'm wrong.

Re: What FICO model does PenFed use?

ddemari — Wed, 27 Jan 2016 19:34:59 GMT

This is the price you pay for credit email from PenFed from my approval last year. It doesnt say NextGen, but the score range is NextGen and since we know PenFed likes EQ NextGen thats gotta be it.

Re: What FICO model does PenFed use?

Anonymous — Wed, 27 Jan 2016 20:27:53 GMT

@mitchblue wrote:
I know I have my reports frozen so when I apped with them they told me (I forgot to temp unfreeze) They said I need to unfreeze Equifax. I just assumed it was Fico 08. Maybe I'm wrong.

FICO 08 is the name of the model, just as NextGen is. There are three different FICO 08 scores, each based on EQ, EX and TU. Same goes for NextGen model. PENFED uses NextGen score from EQ, as ddmeri and irish has mentioned already.