Alliant does not use FICO scores. They use a model from Equifax called "Pinnacle". This scoring system looks harder at your last two year history to determine your score. Some people who have much activity within the last two year period will score less than those with little activity.
In my case, my EQ FICO was 730 but my Pinnacle score (according to the Alliant rep), was between 675 and 700 because there has been a lot of new credit within the last two years, even though during the last six months it has been minimal.
Starting Score: TU 737 EQ 721
Just to clarify for anyone getting confused, the Pinnacle score is a FICO score. It's just that it's not the Beacon 5.0 pulled here and used by most lenders.
The Pinnacle score is Equifax's FICO NextGen score. NextGen's didn't exactly set the credit world on fire
, but they have been picked up by some lenders.
The Pinnacle score is Equifax's FICO NextGen score. NextGen's didn't exactly set the credit world on fire
, but they have been picked up by some lenders.
Sorry Hauling, didn't mean to mislead. Thanks for the clarification.
I wonder what would be necessary for the Pinnacle score to equal or exceed the Beacon score? Would one need to have little to no apps or new accounts within the past two years?
Hey, no problem! I'm still confused on it myself.
The one thing that I can find out for sure is that the NextGen score has a range from 150 - 950, and it has 18 scorecards (score "buckets"), compared to 10 for the classic scores and 12 for FICO 08. (Also not used by that many lenders yet, btw.) And that's pretty much it.
Googling brings up a stunning amount of misinformation, much of it published by credit repair agencies, it would appear. It was supposed to have better predictive power, looking more closely at the most recent two years, but lenders didn't seem to be tempted. It takes forever for lenders to be convinced that a new scoring formula is an improvement over whatever they're familiar with.
Here are the different names, by agency:
Equifax: Pinnacle
TransUnion: PRECISION
Experian: Advanced Risk Scores
I found these dregs on a 2001 press release, which at least appears to have been issued by Fair/ Isaac, as FICO was called until recently.
But note the 2001 part.
The one thing that I can find out for sure is that the NextGen score has a range from 150 - 950, and it has 18 scorecards (score "buckets"), compared to 10 for the classic scores and 12 for FICO 08. (Also not used by that many lenders yet, btw.) And that's pretty much it.
Googling brings up a stunning amount of misinformation, much of it published by credit repair agencies, it would appear. It was supposed to have better predictive power, looking more closely at the most recent two years, but lenders didn't seem to be tempted. It takes forever for lenders to be convinced that a new scoring formula is an improvement over whatever they're familiar with.Here are the different names, by agency:
Equifax: Pinnacle
TransUnion: PRECISION
Experian: Advanced Risk Scores
I found these dregs on a 2001 press release, which at least appears to have been issued by Fair/ Isaac, as FICO was called until recently.
But note the 2001 part.