topic Re: Penfed scoring model in Credit Cards

Penfed scoring model

CS800 — Wed, 28 Dec 2011 20:21:05 GMT

A while back, I was denied for a Penfed CC and checking my messages today, saw that they stated the score range was 150-950.

They only pulled EQ, so I'm thinking they use the Next Gen FICO aka Pinnacle

Would that be accurate?

Re: Penfed scoring model

laz98 — Wed, 28 Dec 2011 17:44:36 GMT

i thought the 150-950 range was for vantage? (definitely not an expert here)

Re: Penfed scoring model

GregB — Wed, 28 Dec 2011 17:52:35 GMT

@CS800 wrote:
A while back, I was denied for a Penfed CC and checking my messages today, saw that they stated the score range was 150-950.

They only pulled EQ, so I'm thinking they use the Next Gen FICO aka Pinnacle

Would that be an accurate?

No.

That would probably be a non-FICO based score generally called a New Account Score. Each CRA has several of them available and the lender can order one tailored to CC, Insurance, Broadband, etc.

Edited to add: Vantage Score 1 & 2 are both 501-990 range.

Re: Penfed scoring model

CS800 — Wed, 28 Dec 2011 17:56:43 GMT

@GregB wrote:
@CS800 wrote:
A while back, I was denied for a Penfed CC and checking my messages today, saw that they stated the score range was 150-950.

They only pulled EQ, so I'm thinking they use the Next Gen FICO aka Pinnacle

Would that be an accurate?
No.

That would probably be a non-FICO based score generally called a New Account Score. Each CRA has several of them available and the lender can order one tailored to CC, Insurance, Broadband, etc.

Edited to add: Vantage Score 1 & 2 are both 501-990 range.

They do mention Equifax that they used; thats why it made me think it was the Next Gen FICO for EQ

Re: Penfed scoring model

namvet — Wed, 28 Dec 2011 20:17:24 GMT

PenFed advised me that their scoring system is Pinnacle 2.0 (fico nextgen score). This scoring model tends to weigh revolving debt more heavily (1/3 of total).

Re: Penfed scoring model

CS800 — Wed, 28 Dec 2011 20:20:11 GMT

@namvet wrote:
PenFed advised me that their scoring system is Pinnacle 2.0 (fico nextgen score). This scoring model tends to weigh revolving debt more heavily (1/3 of total).

Thanks for the confirmation; that's what I thought