VantageScore Heavily Favors Mortgages, even new ones

[Anonymous]

Not that the VantageScore means much to anyone, but after breaking 800 in my Equifax, my FICO score dropped on the presence of a new sizeable mortgage---no big shakes and most people know this (average 15-25 point drop for me).

However, on CreditCheckTotal, which shows VantageScores, they all shot up.  All 3 Vantage scores.   My EX Vantage never got above 699 and it seemed it would be stuck that way for years.  Since the mortgage it bumped up to 710 and my EQ and TU Vantage both shot up as well to "Excellent" from "Good" (730s, out of a possible 830).

My revolving util % has jumped from $0/0% to 20% [new home stuff] but it's improved since I moved a lot of the revolving over to a secured installment loan with Navy Federal.   Since I already have an NFCU card and I was getting a secured loan against savings, I got no hard inquiries added for the installment, but I took a small hit for the age drop.   The term on that is 5y so by December I should get all those points back, and I'm hoping by Feb-July 2012 I'll have all the points back from the new mortgage, and all my points back from lowering the revolving back to 0%.

[Anonymous]

Yeah - that's another great data point on how useless Vantage scores are and how contrary they can run to FICO scores.  Correlation between Vantage and FICO is nada.

With our new mortgage, my FICO stayed precisely the same.  My bizarro Vantage scores gained 20 points when my FICO stayed perfectly stable.

DH (who was at 781 EQ FICO) lost 10 FICO points.  At the same time, he gained 10 points on his FAKO Vantage scores. 

As always, FAKO scores (including Vantage) have no correlation with FICO score movement whatsoever.

When your FICO goes up, your Vantage can go down, stay the same, or go up.

When your FICO goes down, your Vantage can go up, stay the same, or go down.

When your FICO remains constant, your Vantage can go up, go down, or stay the same.

Thanks PhillyGuy - It's a great reminder to ignore FAKO scores along with the FAKO advice that goes along with them.  And, as always, remember that following FAKO advice can, and does, lower FICO scores.

And congrats on your hard work - the 800 club is a nice place to hang out!

[marty56]

I wonder if Vanatage likes secured debt more than revolving debt.  LOL I bet you will see some comment like your loan balance is too high on your mortgage or something similar until it is PIF.

[Anonymous]

I've read complaints that paying off a mortgage or selling for profit but then going into the rental market... some FAKO's took a nosedive for the paid-off mortgage.

Worse---the mortgage disappears off the reports alltogether; then your scores readjust as if that big obligation never even happened.

[Anonymous]

I just got corrected via PM... CK is PLUS Scores.

But Vantage is still the same.  On CreditKarma which can show a TU VantageScore, that one shot up as well.   It looks like some (maybe many?) of the FAKO models will go up on a freshly-minted mortgage even though this situation USUALLY (not always but usually) causes a FICO score drop.