topic Re: Navy Federal credit score vs FICO 8 in General Credit Topics

Navy Federal credit score vs FICO 8

W261w261 — Sun, 27 Mar 2022 18:30:10 GMT

Although FICO scoring on here has been sliced and diced extensively, I can't find much on Navy. Recently I asked for a 5k increase on my 5k Navy Visa Sig, granted. A couple of days later, apped for the More Rewards, approved but at 2.1k. "Kind of low" I thought. Then I read the letter. My Navy score is 282. Whoa. My F8 is 740. I do have some dirty laundry (waiting for 2025 to have a paid CO fall off). My income is 100+, and my DTI, while sometimes not zero, is never above 8%. I have a SSL, checking, and savings accounts with Navy.

So it seems that Navy is scoring something to my detriment that doesn't bother FICO as much. I wonder what it could be? BTW, member for about 18 mos. I just started direct deposit with them, to get the extra .25% on the More Rewards, but also to nudge my score higher.

Any suggestions on the disparity between the two scores? Thx.

Re: Navy Federal credit score vs FICO 8

thornback — Sun, 27 Mar 2022 12:26:45 GMT

There is no comparison to FICO 8 or any other FICO model. NFCUs internal score has a max of 450 (IIRC). So 282 is pretty decent.

We don't know which factors are weighed (nor how heavily) for their internal score. Did your letter list any reason codes? Aside from the CO - do you perhaps have a few new accounts/inquiries? I know a lack of direct deposits have been given as reason codes to others in the past - so starting DD may be beneficial for you.

Re: Navy Federal credit score vs FICO 8

W261w261 — Sun, 27 Mar 2022 12:37:46 GMT

I have no idea actually, but sort of intuitively feel that a 282 is "barely decent." I would think that, in general, a CU, going to the trouble of creating its own scoring system, would make it more directly related to its own experience with a particular customer. But that's just a guess.

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount? Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?

Re: Navy Federal credit score vs FICO 8

thornback — Sun, 27 Mar 2022 12:44:54 GMT

@W261w261 wrote:
would make it more directly related to its own experience with a particular customer. But that's just a guess.

I agree - but I also believe standard scoring factors would apply and that a member's external history would warrant some consideration.

I think a score of ~350ish is the highest I've seen posted on the forum and that was for a fairly new Navy member with a clean, aged credit profile so... i think relationship with Navy may be the final chunk that gets you to 450, but your overall credit profile is the foundation; if it weren't, then new members wouldn't even have a score.

Re: Navy Federal credit score vs FICO 8

thornback — Sun, 27 Mar 2022 12:49:18 GMT

@W261w261 wrote:

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount?

No... but posters with scires on 250-280 range that have spoken to UW have said they were told they have a "good" score.

@W261w261 wrote:
Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?

In the past, they only provided your score for denials or CLIs approved for less than the requested amount. Not sure if it still works this way...

Re: Navy Federal credit score vs FICO 8

moto4man — Sun, 27 Mar 2022 13:12:36 GMT

@W261w261 wrote:
I have no idea actually, but sort of intuitively feel that a 282 is "barely decent." I would think that, in general, a CU, going to the trouble of creating its own scoring system, would make it more directly related to its own experience with a particular customer. But that's just a guess.

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount? Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?

Short answer, but very accurate is a big NO. Probably one of the more discussed issues surrounding NFCU.

Re: Navy Federal credit score vs FICO 8

AverageJoesCredit — Sun, 27 Mar 2022 18:32:29 GMT

@W261w261 wrote:
Although FICO scoring on here has been sliced and diced extensively, I can't find much on Navy. Recently I asked for a 5k increase on my 5k Navy Visa Sig, granted. A couple of days later, apped for the More Rewards, approved but at 2.1k. "Kind of low" I thought. Then I read the letter. My Navy score is 282. Whoa. My F8 is 740. I do have some dirty laundry (waiting for 2025 to have a paid CO fall off). My income is 100+, and my DTI, while sometimes not zero, is never above 8%. I have a SSL, checking, and savings accounts with Navy.

So it seems that Navy is scoring something to my detriment that doesn't bother FICO as much. I wonder what it could be? BTW, member for about 18 mos. I just started direct deposit with them, to get the extra .25% on the More Rewards, but also to nudge my score higher.

Any suggestions on the disparity between the two scores? Thx.

Yes, I wouldn't worry about something you can't control. You can do things to better ones fico score but you can't do anything to better ones internal score as it's their receipt for lending . Just make payments on time and utilize what they give. Money won buy credit with Navy but time and history will get you there imho. .

Re: Navy Federal credit score vs FICO 8

AverageJoesCredit — Sun, 27 Mar 2022 13:38:58 GMT

@thornback wrote:
@W261w261 wrote:
would make it more directly related to its own experience with a particular customer. But that's just a guess.
I agree - but I also believe standard scoring factors would apply and that a member's external history would warrant some consideration.

I think a score of ~350ish is the highest I've seen posted on the forum and that was for a fairly new Navy member with a clean, aged credit profile so... i think relationship with Navy may be the final chunk that gets you to 450, but your overall credit profile is the foundation; if it weren't, then new members wouldn't even have a score.

I think this score is overblown. We see members with sub 300 scores getting 25k limits whereas others in 400s not getting such high limits. I like to look t Navy as a true build that "relationship " as often times the more history you create with time, payments, and usage, they often give more. Again just my humble view

Re: Navy Federal credit score vs FICO 8

AverageJoesCredit — Sun, 27 Mar 2022 13:40:10 GMT

@thornback wrote:
@W261w261 wrote:

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount?

No... but posters with scires on 250-280 range that have spoken to UW have said they were told they have a "good" score.

@W261w261 wrote:
Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?
In the past, they only provided your score for denials or CLIs approved for less than the requested amount. Not sure if it still works this way...

Yes, I actually believe 280-300 are a good score. Done quite well myself on those scores lol

Re: Navy Federal credit score vs FICO 8

SUPERSQUID — Sun, 27 Mar 2022 13:42:05 GMT

@thornback wrote:
@W261w261 wrote:

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount?

No... but posters with scires on 250-280 range that have spoken to UW have said they were told they have a "good" score.

@W261w261 wrote:
Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?
In the past, they only provided your score for denials or CLIs approved for less than the requested amount. Not sure if it still works this way...

I was approved for the cash rewards back in december and they gave me my navy score, it was 297.

To show how crazy this internal score is i have a bk7 on my reports and low income, i had a checking/savings with them for 6 months with a low balance. head scratcher

Re: Navy Federal credit score vs FICO 8

thornback — Sun, 27 Mar 2022 13:56:05 GMT

@SUPERSQUID wrote:
@thornback wrote:
@W261w261 wrote:

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount?

No... but posters with scires on 250-280 range that have spoken to UW have said they were told they have a "good" score.

@W261w261 wrote:
Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?
In the past, they only provided your score for denials or CLIs approved for less than the requested amount. Not sure if it still works this way...
I was approved for the cash rewards back in december and they gave me my navy score, it was 297.
To show how crazy this internal score is i have a bk7 on my reports and low income, i had a checking/savings with them for 6 months with a low balance. head scratcher

Did you have any relationships with other Credit Unions at the time? Curious if prior CU relationships are a factor...

I've seen denials with 'no prior CU relationship' as a factor for other credit unions (not for Navy though, I don't think) so wonder if Navy considers this as well.

Re: Navy Federal credit score vs FICO 8

W261w261 — Sun, 27 Mar 2022 16:55:27 GMT

If Navy is interested in whether I have a relationship with another CU, I have had a USAA Visa since 2016, the one with a lower interest rate but no rewards. It mostly has had an intimate relationship with my socks. It did recently strike me that I was under represented in the USAA world, so I was successful in being approved for a 12k Visa Sig (I over-reached when the next day I was rejected for a CLI on the original card - nothing like being denied for a CLI that comes with its own HP).

I'm waiting - I forget - either 90 or 180 days to request a CLI on the Navy More Rewards, so then I guess I'll get another Navy internal score read. Maybe my direct deposit will help, plus my expanded relationship with USAA for what that's worth(?)

Thanks everyone for the input.

Re: Navy Federal credit score vs FICO 8

SUPERSQUID — Sun, 27 Mar 2022 15:41:01 GMT

@thornback wrote:
@SUPERSQUID wrote:
@thornback wrote:
@W261w261 wrote:

Has Navy ever indicated some scoring parameters, such as x% of scores are above a certain amount?

No... but posters with scires on 250-280 range that have spoken to UW have said they were told they have a "good" score.

@W261w261 wrote:
Also, I gather the only way to see your score is to request a CLI or app for a card. Is this correct?
In the past, they only provided your score for denials or CLIs approved for less than the requested amount. Not sure if it still works this way...
I was approved for the cash rewards back in december and they gave me my navy score, it was 297.
To show how crazy this internal score is i have a bk7 on my reports and low income, i had a checking/savings with them for 6 months with a low balance. head scratcher
Did you have any relationships with other Credit Unions at the time? Curious if prior CU relationships are a factor...

I've seen denials with 'no prior CU relationship' as a factor for other credit unions (not for Navy though, I don't think) so wonder if Navy considers this as well.

NO cu experience at as far as cc's but i belonged to penfed with a 15 buck savings since may. penfed gave me a PCR for 7.5k sl at 17.99 in december, blew my mind.

The nfcu cr sl blew my mind too, 3700 at 16.99 250 sub for 2500 in 90 days. even though on the prequal they said secured nrewards for 6 months.

my fico9's are/were in the high 600 good range, my fico8's are 2 in the good range above 670 but tu is 658

Re: Navy Federal credit score vs FICO 8

thornback — Sun, 27 Mar 2022 16:21:37 GMT

@SUPERSQUID wrote:

NO cu experience at as far as cc's but i belonged to penfed with a 15 buck savings since may. penfed gave me a PCR for 7.5k sl at 17.99 in december, blew my mind.

The nfcu cr sl blew my mind too, 3700 at 16.99 250 sub for 2500 in 90 days. even though on the prequal they said secured nrewards for 6 months. my fico9's are/were in the high 600 good range, my fico8's are 2 in the good range above 670 but tu is 658

Interesting. NFCU - consistently inconsistent yet, somehow remarkably reliable.

Re: Navy Federal credit score vs FICO 8

FinStar — Sun, 27 Mar 2022 18:37:59 GMT

@W261w261 wrote:
If Navy is interested in whether I have a relationship with another CU, I have had a USAA Visa since 2016, the one with a lower interest rate but no rewards. It mostly has had an intimate relationship with my socks. It did recently strike me that I was under represented in the USAA world, so I was successful in being approved for a 12k Visa Sig (I over-reached when the next day I was rejected for a CLI on the original card - nothing like being denied for a CLI that comes with its own HP).

I'm waiting - I forget - either 90 or 180 days to request a CLI on the Navy More Rewards, so then I guess I'll get another Navy internal score read. Maybe my direct deposit will help, plus my expanded relationship with USAA for what that's worth(?)

Thanks everyone for the input.

@W261w261 USAA is not a CU. It is chartered as a Federal Savings Bank.

Re: Navy Federal credit score vs FICO 8

W261w261 — Sun, 27 Mar 2022 22:07:38 GMT

@FinStar wrote:
@W261w261 wrote:
If Navy is interested in whether I have a relationship with another CU, I have had a USAA Visa since 2016, the one with a lower interest rate but no rewards. It mostly has had an intimate relationship with my socks. It did recently strike me that I was under represented in the USAA world, so I was successful in being approved for a 12k Visa Sig (I over-reached when the next day I was rejected for a CLI on the original card - nothing like being denied for a CLI that comes with its own HP).

I'm waiting - I forget - either 90 or 180 days to request a CLI on the Navy More Rewards, so then I guess I'll get another Navy internal score read. Maybe my direct deposit will help, plus my expanded relationship with USAA for what that's worth(?)

Thanks everyone for the input.
@W261w261 USAA is not a CU. It is chartered as a Federal Savings Bank.

Ok. My mistake. I went to West Point recently for a funeral, and outside the gates there they were: NFCU, USAA etc. I thought they were all CU's.

Re: Navy Federal credit score vs FICO 8

Anonymalous — Tue, 29 Mar 2022 21:45:27 GMT

@SUPERSQUID wrote:
I was approved for the cash rewards back in december and they gave me my navy score, it was 297.
To show how crazy this internal score is i have a bk7 on my reports and low income, i had a checking/savings with them for 6 months with a low balance. head scratcher

Same with me, a month earlier with the More Rewards. My score was a few points higher, and I can't really explain it. Without the ability to subscribe to a scoring service and test what causes a score to go up and down, we'll never be able to black box their system. But we can probably guess the type of things that will help a score, like all the usual relationship building stuff.