topic Ng 2 score in Understanding FICO® Scoring

Ng 2 score

Anonymous — Wed, 15 Feb 2017 15:53:35 GMT

Hi I'm in the process of getting my score back up after paying off all my credit card debt that was once at a 60 percent utilization. Back in November when I was at a high utilization my credit score on vantage 3.0 and fico 8 was 630 with Equifax but my credit score with PenFed next gen 2 showed 577 with Equifax. How come it's so much lower with NG 2. I did a credit simulator with credit karma showing paid off credit debt and it took me to 687. Since my credit score was 577 with PenFed NG 2 when others were showing 630, does that mean my pen fed updated score after I paid off all me debt be much less then 687 vs credit karma and fico 8 score??

Re: Ng 2 score

WST — Thu, 16 Feb 2017 14:30:16 GMT

Let me reply with a data point gathered from my account with Penfed this morning to help illustrate my conclusion...

Your FICO® Score NG 2, based on Equifax data and pulled on 11/29/2016, is 631 and is the same score that PenFed uses to manage your account.

At the same time, my FICO 8 EQ was 619 (real score, not FAKO). Therefore, at least I, had a score that was quite close together. Additionally, this illustrates that PenFed does not update their scoring information every month. As such, hit the button "Your FICO SCORE is ready" just above "My Accounts" - near the top of the logged in home page on PenFed's web site.

Re: Ng 2 score

Anonymous — Thu, 16 Feb 2017 18:20:46 GMT

NG2 score has a range of 150 to 950 and evaluates your past credit differently than does FICO 8, NG2 is an older version. When I first opened my Penfed account the first item listed on my NG2 score factors was a lack of a charge card my FICO 8 score has never listed that as a factor. Penfed is the only credit card that I know of that uses NG2 so I would not worry about it.