Penfed...Really irritated with you today. Update 01/03/2017

[Anonymous]

So it's not so much Penfed that I'm upset with, it's their nexgen score.  

Todays quartely score showed up and I'm all the way down to 674 and this is after opening my account with a 681 score and then at the 3 month mark moving up to a 695 score. 

I can't figure it out at all.  My eq at account opening was 691 (nexgen 681), Nov fico 699 (nexgen 695),  Jan fico 706 (nexgen 674)

Reason for lower score on Jan 1 nexgen score being low according to them is  that I have two many new accounts with high utilization.

Account opening balances   07/01/2016

Furn Store      5040 / 8000      63%

NFCU             4475 / 21500    21%

Merrick             286 / 1500      19%

lowes                879 / 17000     5%

Vic Secret          30 /  2800       1%

Balance as of 11/29/2016  where Jan Nexgen came from

NFCU            3674 / 21500    17%

Walmart          610 / 6000       10%

Merrick           128 / 1500        9%

Sams Club     711 / 20000      4%

Modells          133 / 3000        4%

Sams Club        7 / 7000         0%

Only other changes are that a paid jugement that was on my report has been removed.

And a car that I consigned for my daughter has been refinanced in her name. 

No inquiries since Penfed account opeing on any bureau and no new accounts reported other than their account in August.

This is just weird and wouldn't bother me so much if I wasn't wanting to shoot for a cli increase with them because they told me to give it six months and they should be able to increase my 5000 starting limit. 

Just more of a post to see what the community feels like I should do.  I'm sure I will get denied with hitting the love button online but probably could speak to a loan supervisor and get it increased.  But wonder if it would be enough to deal with the whole process. 

Any thoughts or opinions?

UPDATE......  So I decided to pull the trigger and ask,  My EQ fico 08 hit 709.    Got an increase from 5000-7500 and a 1% interest rate reduction.

Went ahead and called in and spoke with front line CSR who asked me what kind of increase I was looking for.  I told her I would love to get this card to match close to my 2 NFCU cards ( 21500 and 15000) and my Capital one QS at 16000.  

She asked a few income questions and such and put me on hold for about 5 minutes and came back and was able to get it increased to 15,500.  That works great for me.  

Hate reconning but it definately works.

[fltireguy]

OP - how old was that judgement..? Was that your oldest TL?

Do you have any other installment loand currently reporting, or was the car loan the only one you had?

[NRB525]

If there are no new accounts other than PenFed since July 1, then does that mean your July 1 listing excludes zero balance cards? If so, could you add those to the list, because those all count as "available credit". For example the Sams Club $20,000 limit appears on the 11/29 list, not on the 7/1 listing. Seems relevant to understanding the starting score.

Same completion needed for the 11/29 list, Lowes and the Furniture store card went to zero, correct? If still open, they should be listed as zero open balance, with a credit line.

Removing the paid judgement is good. How long ago did that first appear, mostly looking to see how long ti is aged. If really long aged, it might not have been having a huge score impact.

No other lates on your account? Seeing low 700's on FICO with what I think is low utilization across all cards and in total, no recent app spree, seems strange without a late in there some where. The other alternative reason is, for all the card accounts you list, when was each of them opened? Within the last year, during early 2016?

Removing "your" auto loan may have had a negative influence as well, if that was your only active installment loan. Do you have a mortgage? Other small installment loan going on in your name?

[Anonymous]

Mine dropped as well. 

I had just charged a new HVAC system. It should go back up when they pull at the end of February.....which we will see In April. 

Dont sweat it @op 😁

[Anonymous]

How does one find out their PenFed score?

[Anonymous]

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@NRB525 wrote:

If there are no new accounts other than PenFed since July 1, then does that mean your July 1 listing excludes zero balance cards? If so, could you add those to the list, because those all count as "available credit". For example the Sams Club $20,000 limit appears on the 11/29 list, not on the 7/1 listing. Seems relevant to understanding the starting score.

Same completion needed for the 11/29 list, Lowes and the Furniture store card went to zero, correct? If still open, they should be listed as zero open balance, with a credit line.

Removing the paid judgement is good. How long ago did that first appear, mostly looking to see how long ti is aged. If really long aged, it might not have been having a huge score impact.

No other lates on your account? Seeing low 700's on FICO with what I think is low utilization across all cards and in total, no recent app spree, seems strange without a late in there some where. The other alternative reason is, for all the card accounts you list, when was each of them opened? Within the last year, during early 2016?

Removing "your" auto loan may have had a negative influence as well, if that was your only active installment loan. Do you have a mortgage? Other small installment loan going on in your name?

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All the same accounts were open at the original opening of the account with Penfed.  I have about 25 open accounts including all that have already been listed and 2 active mortgages ( 1 13 yrs old and the other 7 yrs old)  Several old chargeoffs that have been paid so I'm sure that affected any gain from the Judgement removal ( from 2012)

Oldest account is the furn store account which is 17.5 yrs and then the mortgages and then a few cards opened in 2009-2010 then about 10 new accounts first six months of 2015. 

Just weird.  The only changes were the ones listed in the original post.  Im sure as somone else posted it will rebound.  I was expecting an increase because my profile to me at least looks better now than it did six months ago at account opening.

[Anonymous]

Keep in mind, the new Penfed NEXGEN score was pulled a month ago at the end of November.

A lot can happen with scores in 30 days as we all know.

[Anonymous]

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@Anonymous wrote:

Keep in mind, the new Penfed NEXGEN score was pulled a month ago at the end of November.

A lot can happen with scores in 30 days as we all know.

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Absolutely right Rockbeater and if I look at my Jan 1 report it will be even better than what I have listed.  Lower Balances and only 3 cards with a balance. 

I Just can't figure it out.  But then who really understands fico scoring models to any real degree other than the basics.  LOL

[Anonymous]

You may have been rebucketed.  Which I can't explain the ins and outs of that phenomenon.

My Nexgen score has been the same the last 3 quarters that Penfed has pulled it.  Go figure.

[NRB525]

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@Anonymous wrote:

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  Several old chargeoffs that have been paid so I'm sure that affected any gain from the Judgement removal ( from 2012)

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Are these old charge offs still on your credit report?