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?
@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
@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 