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Change in score with the VantageScore

2 days ago I checked my Exp and Trans credit scores and noticed they've dropped almost 20 points from my last scores. When I look at my score on my Wamu cc site it is still the same as before. Is this new VantageScore correct? What score should I really be looking at today? I am looking into getting a new apt or possibly a condo and don't want to be denied for either! 
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Re: Change in score with the VantageScore



tell163 wrote:
2 days ago I checked my Exp and Trans credit scores and noticed they've dropped almost 20 points from my last scores. When I look at my score on my Wamu cc site it is still the same as before. Is this new VantageScore correct? What score should I really be looking at today? I am looking into getting a new apt or possibly a condo and don't want to be denied for either! 



FICOs are the only scores that matter, especially when it comes to mortgages.
 
The FICO scores you can buy from this site are the same FICO scores mortgage lenders use.
 
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Re: Change in score with the VantageScore

My husbands FICO scores are 715/730/739 When I pulled them myself before I realized the mortgage company was going to let us see them the one that was the Vantage score told me that and it was way lower than 700 and said he was a credit risk. I find that completely astounding his late payment was 4 years ago and he has nothing else bad. The only issue at the time would have been usage %.
FICO 6/2/08 , EX 754, 5/2 TU 720 EQ 722
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Re: Change in score with the VantageScore

The bottom line is that FICO scores are the industry standard for granting any kind of consumer credit. The other scores...well, they're fun to look up and play with simulators on, but when you want to get down to brass tacks and see exactly how your credit stacks up, there's no substitute for FICO scores.
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Re: Change in score with the VantageScore



caliborne wrote:
My husbands FICO scores are 715/730/739 When I pulled them myself before I realized the mortgage company was going to let us see them the one that was the Vantage score told me that and it was way lower than 700 and said he was a credit risk. I find that completely astounding his late payment was 4 years ago and he has nothing else bad. The only issue at the time would have been usage %.


That's interesting! --I've heard that some companies are using Vantage AND FICO scores, but I hadn't heard that any were using Vantage only. Can I ask who your mortgage company is?

I understand that lenders can get Vantage scores incredibly cheap, because the Vantage people are trying to get them in use.

That's odd that his Vantage would be so much lower, with a four-year-old late. My understanding is that Vantage focuses strongly on the last two years, kind of the way that FICO 08 is supposed to do. I hope you can find a lender who will work with his much better FICO's--good luck!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Re: Change in score with the VantageScore

[ Edited ]
I"m sorry I wasn't very clear the MORTGAGE company used real FICO scores. When I was looking online before I realized they were going to show them to us one of the Credit Bureaus only gave me a vantage score.

Oh and we have a VA loan but were approved instantly for a different loan as well before we switched lenders. They are only using his FICO scores. Thanks, we close April 15th :smileyhappy:

Message Edited by caliborne on 03-31-2008 04:35 AM
FICO 6/2/08 , EX 754, 5/2 TU 720 EQ 722
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Re: Change in score with the VantageScore

I signed up for three of the free credit report trials.  They only give you one to began then advise you have to pay for the other two.  But when I got each report (just for experian) one was 542, one was 503 and the other was 481.  How is this possible were they scams?
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Re: Change in score with the VantageScore



tell163 wrote:
2 days ago I checked my Exp and Trans credit scores and noticed they've dropped almost 20 points from my last scores. When I look at my score on my Wamu cc site it is still the same as before. Is this new VantageScore correct? What score should I really be looking at today? I am looking into getting a new apt or possibly a condo and don't want to be denied for either!





tell, if you are going condo shopping, I suggest you do not put any credence into the Vantage score OR(especially) the PFICO score you get from the WaMu site. The score you get from WaMu is the credit card enhanced version of FICO. And as far as it being the same number as last month.....so is mine. WaMu did not update from February to March, so the scores are the same. It happened to me too this month, and in the August/September scores as well.
"Never ever, ever be late. Never" (FUTR)
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Re: Change in score with the VantageScore



caliborne wrote:

Oh and we have a VA loan but were approved instantly for a different loan as well before we switched lenders. They are only using his FICO scores. Thanks, we close April 15th :smileyhappy:


Congrats on the new loan!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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