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What score does Navy use for new CC apps?

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Super Contributor

What score does Navy use for new CC apps?

Two things:

 

1. I had a SM convo seeking my "price you pay" letter from Navy. I was informed that they are not required to send said letters when the individual receives a rate in their "lowest tiers." I thought it was only when they give the lowest rate? I'm like 4% over the minimum APR.

 

2. I was told "the CC Lending Team will only utilize [the] internal Navy custom score with new CC apps". (I don't know if they meant that's the only time its used or if that's the only score used in the decision. Also said they don't update the custom score on existing CC accounts.   

 

We all know CSRs can be misinformed, but thought I'd share. Thoughts?     

 

[Mods: I placed this here, but it relates to CC apps. I was unable to find navy labels etc., in the App subforum. If it's more appropriate to move elsewhere, please do what's best. Thanks!]

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 1 of 6
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Super Contributor

Re: What score does Navy use for new CC apps?

I'm not able to answer question 1.

 

TU New CC application.

EQ CLI request

 

They have been known to switch it up. They may or may not use a combination of internal score and credit report.

 

At the 1 year mark you can request APR reduction.

 

Based on your profile, I see a 5 digit SL in your future. Their 2nd card is known to be generous.

Message 2 of 6
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Epic Contributor

Re: What score does Navy use for new CC apps?

"Their 2nd card is known to be generous."

 

+2

 

popcorn eating emoticon.gif

Message 3 of 6
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Super Contributor

Re: What score does Navy use for new CC apps?

Yes, I know which bureaus. Its what they said about WHICH algorithm. He said exactly that above. I simply believe its a case of the CSR being misinformed.

The first card was extremely generous; its my highest CL. Are they still more generous under those circumstances?
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 4 of 6
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Super Contributor

Re: What score does Navy use for new CC apps?

As far is WHICH algorithm, I do not know.

I can only guess they would use either or both at thier disposal.

2nd card issued can be $25,000.
Message 5 of 6
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Epic Contributor

Re: What score does Navy use for new CC apps?


@AllZero wrote:
As far is WHICH algorithm, I do not know.

I can only guess they would use either or both at thier disposal.

2nd card issued can be $25,000.

+1

popcorn eating emoticon.gif

Message 6 of 6
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