If Vantage Scores were Fico Scores

A1Credit · ‎04-05-2017

I would be so happy! Wishful thinking...does anyone know when and why they moved away from this scoring formula?

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669

MrsCHX · ‎04-05-2017

It's so wishy-washy. Right now my Vantage and FICO scores are almost the same -- they're only off by a couple points. But they've been higher than my FICO scores and lower than my FICO scores.

They are just sensitive to different factors/scenarios than FICO...

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500

A1Credit · ‎04-05-2017

Okay, well I guess it woud depend on the credit profile much like Fico. My TU Vantage Score is 80 pts higher than my TU Fico.

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669

Anonymous · ‎04-05-2017

@A1Credit wrote:
I would be so happy! Wishful thinking...does anyone know when and why they moved away from this scoring formula?

No one has moved away from the Vantage scoring model with very few exceptions lenders never used it.

A1Credit · ‎04-05-2017

okay. I guess I need to find out who uses it.

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669

Anonymous · ‎04-05-2017

@A1Credit wrote:
okay. I guess I need to find out who uses it.

Nobody.

A1Credit · ‎04-05-2017

Well dang! That idea is out the window.

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669

sarge12 · ‎04-05-2017

The Vantage Score was created by a collaboration of the big 3 CRA's Equifax, Experian, and TransUnion to try and compete with the fico scoring models. The drawback is that the Fico scoring models have a time proven record of predicting the percentage of debtors who will default or become seriously delinquent on loans...ie they have a historical track record. The success of the model depends on creditors being willing to subscribe to an unproven scoring model. Thusfar, almost no creditors have been willing to take that chance, so it is largely a credit score no creditors use.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20

A1Credit · ‎04-05-2017

Thank you for the history @sarge12. I'm sure having more than one credit scoring model would be beneficial to all but would come with some drawbacks, much like anything else. FICO pretty much has a monoply on this. Maybe if this scoring system had been devolped around the time or roughly right after, it would have stood a chance. Oh well! I find that I use this emoticon quite often on this board lol

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669

Anonymous · ‎04-06-2017

I will say that it's irksome that Capital One, for one, shows its accountholders the Vantage score instead of the FICO score, as other issuers (in my case, Discover and Synchrony) do. Especially irksome because right now, my Vantage TU score is way off (49 (!!!) points higher) than my FICO TU score, even though the other two bureaus seem to be fairly close in Vantage and FICO.