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Modern Living Room

Understanding your Fico Score

How are FICO® Scores calculated? FICO® Scores are

calculated from m

any different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how FICO® Scores are calculated.

  • 35% - Payment History

  • 30% - Outstanding Debt

  • 15% - Length of Credit History

  • 10% - New Credit

  • 10% - Credit Mix

What are FICO® Scores? FICO® Scores are numbers that summarize your credit risk. Scores are based on a snapshot of your credit file at particular consumer reporting agency at a particular point in time, and help lenders eva

luate your credit risk.

Why are you providing FICO® Scores? Reviewing your FICO® Scores can help you to better understand your financial health.

How often will I receive my FICO® Score? Your FICO® Score 9 is based on Equifax data, and Navy Federal receives updated credit score data from Equifax once a month. When you view your FICO® Score Online or through the Mobile app, you see the most recent FICO® Score that Navy Federal has received from Equifax.

Will accessing my FICO® Score impact my credit? No. The FICO® Score we provide to you will not impact your credit.

Why is my FICO® Score not available? Your credit card account is new. It may t

ake over two billing cycles for us to populate your score. nRewards® Secured and First Time Borrowers Cardholders. It might take additional time for nRewards® Secured and First Time Borrowers to see their FICO® Score. The Credit Bureau doesn't have adequate data. FICO® Scores are calculated based on credit reports at the US credit reporting agencies. FICO® Scores are not available when a credit bureau cannot match the necessary data about the consumer.

Where does the information used to calculate my FICO® Score come from? FICO® Scores are based on the credit information in a credit file with a particular consumer reporting agency (CRA) at the time the score is calculated. The information in your credit files is supplied by lenders, collection agencies and public records. Not all lenders report to all three maj

or CRAs. The FICO® Score 9 that we provide to you is based on data from your Equifax report as of the "pulled on date" shown with your score.

What are Key Score Factors? When a lender receives a FICO® Score, "key score factors" are also delivered, which explain the top factors from the information in the credit report that affected the score. The order in which FICO® Score factors are listed is important. The first indicates the area that most affected that particular FICO® Score and the second is the next significant area. Knowing these score factors can help you better understand your financial health over time. However, if you already have a high FICO® Score (usually in the m

id-700s or higher), score factors are informative but, not as significant since they represent very marginal areas where your score was affected.

Why is my FICO® Score different than other scores I've seen? There are many different credit scores available to consumers and lenders. In addition, FICO® Scores are based on credit file data from a particular consumer reporting agency, so differences in your credit files may create differences in your FICO® Scores. The score being made available through this program is FICO® Score 9. When reviewing a score, take note of the score date, consumer reporting agency credit file source, score type, and range for that part

icular score.

Why do FICO® Scores fluctuate/change? There are many reasons why a score may change. FICO® Scores are calculated each time they are requested, taking into consideration the information that is in your credit file from a particular consumer reporting agency (CRA) at that time. So, as the information in your credit file at that CRA changes, FICO® Scores may also change. Review your key score factors, which explain what factors from your credit report most affected a score. Comparing key score factors from the two different time periods can help identify causes for a change in a FICO® Score. Keep in mind that certain events such as late payments or bankruptcy can lower FICO® Scores quickly.

How do I check my credit report? Because your FICO® Sc

ore is based on the information in your credit report, it is important to make sure that the credit report information is accurate. You may get a free copy of your credit report once every 12 months. To request a copy of your credit report, please visit: or you can request a free copy from each of the three major consumer reporting agencies including Equifax. Please note that your free credit report will not include your FICO® Score. FICO® Scores and associated educational content are provided solely for your own non-commercial personal review, use and benefit.


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