Why is my Vantage score 728 vs FICO 792?

[takeshi74]

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@Anonymous wrote:

got ya..  is 728 considered a good score?

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The CK site shows you the spectrum of the scoring range and an overall assessment of your scores.

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@Anonymous wrote:

I only have 2 closed acct in my history..  So are you saying it my go up because of the introduction of the new model.. Should i wait.?  

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If you have access to the new scoring model then the change has already taken place.  Whether it goes up or down form this point on depends on the data in your reports and how it changes over time.

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@gdale6 wrote:

Actually the newer Vantage Score 3.0 is used by a few lenders in making decisions so its not a complete FAKO, the previous score of CK, yes that is a total FAKO the TU new accounts model.

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It's not whether creditors use a score that determines if a score is a FAKO or not.  If it's not a FICO it's a FAKO.

[racer-x]

So even though a good amount of creditors are using the Vantage model to determine whether or not to loan people money for a house, an auto, or extend credit on a CL, it renders the 'FAKO' score irrelevant?

If creditors are using a non-Fico score, doesn't that in itself make it relevant and something that should be considered when applying for credit?

[takeshi74]

That's not what I'm saying.  Relevance and FICO versus FAKO are two entirely different things despite how many state that only FICO's matter.

VantageScore may or may not be relevant but it is not a FICO and therefore it is a FAKO.  Relevance all depends on whether or not the creditor you're applying to uses the scoring model.  Even FICO's can be irrelevant.

For example, PenFed bases decisions on the FICO NextGen model.  Your FICO 08 score from myFICO (or any other source) isn't relevant to their decision.  VantageScore is irrelevant for them as well.

Mortgage lenders frequently use the 04 or 98 models.  Again, 08 scores and VantageScores are irrelevant for such mortgage lenders.

If, however, the creditor you're applying to uses VantageScore then it's certainly relevant.