What's the difference between TransRisk and Advantage Score?

[LoveGoodCredit]

Just wondering what the difference is.  My Advantage Score has not changed but my transrisk score keeps going up by 10 points every week.  Does the transrisk score monitor activity or something?  Just curious.  I know I am going in the right direction but I am curious.

Thanks!

[llecs]

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@LoveGoodCredit wrote:

Just wondering what the difference is.  My Advantage Score has not changed but my transrisk score keeps going up by 10 points every week.  Does the transrisk score monitor activity or something?  Just curious.  I know I am going in the right direction but I am curious.

Thanks!

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Do you mean VantageScore (as in CreditKarma's score offerings)?

[LoveGoodCredit]

Yes, is that just their model?  

[llecs]

TransUnion developed the TransRisk score. The TransRisk score is available on TU-based or owned products like CreditKarma, some TrueCredit resale products like EIDT, and one or two others. As a side note, TU also developed a CC-enhanced TransRisk score and that's available if you have a Barclays SeaMiles CC. The score range for TransRisk is similar to FICO's of 300-850 (not exactly the same though).

VantageScore was developed by all 3 CRAs in an attempt to compete with FICO. They have two versions: 1.0 and 2.0. Version 1.0 ignores AU accounts, whereas Version 2.0 does not. Others have posted issues in not seeing any improvement when adding AUs when monitoring CreditKarma so I suspect 1.0 is still in use there. Aside from CreditKarma, Vantage is also offered if you purchase your report via TransUnion.com and similarly via Experian.com. The score range for VantageScore is 501-990.

No lenders use the TransRisk score. It says in the T&C of the products that offer TransRisk that the score is for educational use only. Not many lenders use Vantage. There are some, but it's rare.

[LoveGoodCredit]

OKay that makse sense.  Thanks for the clarificaiton I really wasnt sure what purpose the transrisk and vantage is for when it isnt really used?  OMG everyone uses Equifax and of course that is the worse.  I can say, my score jumped to 577 today.  I am so happy about that.  Will be focused on the rest of the collections to be removed by the end of year. 

All you smart credit people are amazing!