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I just apped for a Chase Freedom and it gave me a score based called Application Score with Chase Bank as its source. The range of the score is 100 to 990. My initial feeling is that it's a Vantage score, but it really looks to a proprietary model to me. It's also somewhat close to my Equifax FICO. Can anyone shed some light on the matter?
Vantage starts at 500? I think it's their own scoring model.
Ahhhh, if only they are as nice as AMEX, giving out Experian FICO even they use their own model.
Vantage scores range from 501 to 990.
Classic FICO scores range from 350 to 850.
Nextgen FICO scores range from low 200 to low 800.
It looks like Chase use their own proprietary scoring model, rather than FICO scoring model.
Good to know. Really starting to think FICOs from here are becoming obsolete or with the usefulness of FAKO scores.
@dp321 wrote:Good to know. Really starting to think FICOs from here are becoming obsolete or with the usefulness of FAKO scores.
I'm a little surprised lenders aren't trading information and using a scoring system consumers can't artificially influence.
@dp321 wrote:Good to know. Really starting to think FICOs from here are becoming obsolete or with the usefulness of FAKO scores.
The TU score here is TU98, which is obsolete. I SOOOOOOOO wish MyFico would move to TU04 or TU08.
@drkaje wrote:
@dp321 wrote:Good to know. Really starting to think FICOs from here are becoming obsolete or with the usefulness of FAKO scores.
I'm a little surprised lenders aren't trading information and using a scoring system consumers can't artificially influence.
There aren't nearly that many people as you might think that are aware of the ins and outs discussed on here. And most of them are fairly obvious. No matter what scoring system is used, I'm pretty sure paying your bills on time and keeping your balances low is going to help you improve your score. And if you have negative items on your CR, doing whatever you can to remove them, e.g. PFD, GW, is going to help.
No matter what scoring model one may use, it all comes from your credit report.
And all scoring models (Vantage, FICO, etc) have the same concept. Pay your bill on time, low utilization, long credit history, and no derog.
@trumpet-205 wrote:Vantage scores range from 501 to 990.
Classic FICO scores range from 350 to 850.
Nextgen FICO scores range from low 200 to low 800.
It looks like Chase use their own proprietary scoring model, rather than FICO scoring model.
Actually the correct ranges are:
Classic FICO - 300-850
NextGen - 150-950
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".