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The Score Difference between FICO and Vantage

Frequent Contributor

The Score Difference between FICO and Vantage

It seems from my own history and that of several others I see posting here that when there is bad news in a person's credit file, Vantage will yield a significantly lower credit score. I know one reason is that in the eyes of Vantage, an unpaid default from 7 years ago is the same as an unpaid default from yesterday.

 

That said, here comes my bad experiences and basic distrust - why would a lender even want a FICO score over a Vantage? It seems that the lower the applicant's score, the higher the interest rate, and Vantage gives the lower score, everything else being equal.

FICO 8 Scores
2/14/17,EFX - 614, 4 Derogs,TU - 621, 6 Derogs, EXP - 603, 3 Derogs 3/7/17, EFX - 579, TU - 595, EXP - 588, same Derogs 4/8/2017 EFX - 683, TU - 791, EXP - 605 All Chargeoffs removed from TU 5/8/17 EFX 750, TU 796, EXP 625 All chargeoffs removed from EFX 5/15/17 EFX 743; TU 794; EXP 715 6/1/17 EFX 762; TU 794; EXP715 8/15/17 EFX 762; TU 777; EXP 760
img src="http://i.imgur.com/Gfc4B.png" border="0" title="Silver Garden Club Member" width="40" height="40" align="right">
7 REPLIES
Community Leader
Valued Contributor

Re: The Score Difference between FICO and Vantage

Vantage scores can go either way. A friend's Vantage scores are in the upper 600 range bur his Fico 08 is lower 500's. My hubby's Vantage scores are in the mid 500 range and his Fico scores are upper 600's.
Message 2 of 8
Valued Contributor

Re: The Score Difference between FICO and Vantage

Yeah Vantage isn't always lower.  FICO scores have been the standard for decades and has become the standard. I am not sure I'd want companies to just adopt any new product that came on the market. 

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 3 of 8
Regular Contributor

Re: The Score Difference between FICO and Vantage

Mine are fairly close. TU Vantage 793, EQ 754.

Latest FICO 08's are in my sig.


FICO 08:Jan 18, 2017: EX 800 EQ 725 TU 799
FICO 08:Feb 10, 2017: EX 788 EQ 772 TU 791 (post New Year's app spree)
In the garden as of 1/4/2017. Will remain for all of 2017.
Message 4 of 8
Valued Contributor

Re: The Score Difference between FICO and Vantage

In my case vantage  overstate and put me over  well above wife wife  in FiCO land she has scores that are better  by about 20 points 

Message 5 of 8
Regular Contributor

Re: The Score Difference between FICO and Vantage


Flyingifr wrote:

It seems from my own history and that of several others I see posting here that when there is bad news in a person's credit file, Vantage will yield a significantly lower credit score. I know one reason is that in the eyes of Vantage, an unpaid default from 7 years ago is the same as an unpaid default from yesterday.

 

That said, here comes my bad experiences and basic distrust - why would a lender even want a FICO score over a Vantage? It seems that the lower the applicant's score, the higher the interest rate, and Vantage gives the lower score, everything else being equal.


In a way, you answered your own question there at the end.

 

Let's use my situation as an example. After finishing my undergrad degree, there was a huge issue getting my loans consolidated which caused me to get hit with 120 day late payments on the originating accounts before the consolidation was complete. Though there was agreement that I had no entity to send payment to, they would not take these marks off my record. With FICO scoring, these have lessened in impact over the last 7 years, though they still lower my score due to being considered 'serious' delinquencies. With Vantage scoring, as you noted, it's almost as if I am currently 120 days late. My score is 60+ points lower. Those are due to drop off around August of this year, so they'll level out then, but the Vantage model is wildly inaccurate in predicting today's risk level of my profile.

 

Why would lenders desire to limit their customer bases using data that is only marginally relevant to the money that they are likely to make (or lose) today? Let's limit my household (or just my profile) to the last 6 years, so that we're past that anomaly. No lates, no collections, diversified account profile (mortgages, auto, personal loans, credit cards), high CLs, low to moderate util, high income (outside of FICO, but still considered in extensions of credit), etc. What bank would look at this and think that those marks from 7 years ago should override the overwhelmingly positive recent record? 

FICO as of Feb 2017:
EQ 712 | 728 TU | 713 EX
Message 6 of 8
Established Contributor

Re: The Score Difference between FICO and Vantage

Poor FICO 08 up to 579 fair 580-669 good 670-725
Van 3.0 poor up to 639 fair 640-699 good 700-740
Vantage is supposed to be higher 580 FICO and 640 vantage means the same thing
fico 11/01/01//2017 tu 634eq 631
ex 613overstock src="http://ficoforums.
Message 7 of 8
Senior Contributor

Re: The Score Difference between FICO and Vantage

My TU Vantage 3.0 score is about 15 points higher than my TU FICO 08 while my EQ Vantage 3.0 score is about 15 points lower than my EQ FICO 08.  Go figure, lol.

Message 8 of 8