WOW! CREDIT KARMA HAS STEPPED IT UP! BIG!

[Revelate]

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@TimeToRecover wrote:

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@nyancat wrote:

VantageScore is the second most used scoring model by banks after FICO (granted, that's a huge cliff from first to second place). Still, it gives me more real, acutal, unique data banks use. The old score meant nothing.

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I am curious where you are getting that statement from and what proof/documentation there is of that statement.  I hear more of the use of the 04 model for mortgages and 08 model for CC's.  so where exactly are you seeing and documenting that Vantage is the second most used scoring model.

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Vantage is the only real competitor to FICO.  It's in 2nd place pretty much by default even if the data didn't back that up .

Recent press release piece (so take with a grain of salt but probably accurate on the numerical data):

http://finance.yahoo.com/news/vantagescore-solutions-announces-major-strides-113000241.html

[nyancat]

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@TimeToRecover wrote:

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@nyancat wrote:

VantageScore is the second most used scoring model by banks after FICO (granted, that's a huge cliff from first to second place). Still, it gives me more real, acutal, unique data banks use. The old score meant nothing.

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I am curious where you are getting that statement from and what proof/documentation there is of that statement.  I hear more of the use of the 04 model for mortgages and 08 model for CC's.  so where exactly are you seeing and documenting that Vantage is the second most used scoring model.

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As Revelate said, VantageScore is the only competitor to FICO (a for-sale to creditors score). Yes, multiple FICO models are more widely used than VantageScore. But in terms of scoring services, I'm lumping all FICO scores and all VantageScores. And FICO is market leader by a long shot. Since there is only one other player, VantageScore, they are automatically second place.