Understanding FICO® Scoring

[Shogun]

Took a hit this month on CK, dropped 61 points from new CC added.  I still haven't figured out where they get their numbers.

TU08               759

TU98               753

Credit Karma 687

Am I ever thankful nobody uses their scores!!!!!!!

[HiLine]

Is the new CC a Visa Signature?

[Shogun]

Nope, Barclays NFL.

[eviLution]

I lost 28 points this month on CK getting a new CC, but my Vantage Score jumped from 694 to 712.

I'll be able to get my first Fico scores beginning of January to compare my scores. I can't wait!!

[CotySinz]

My CK scores are almost 100 points lower than my actualy FICO scores. They smokin something over there.

(minor profanity tweak - Rev)

[cds508]

My FICO score says 680, my CK shows 642 & my Credit Sesame says 639. But when the dealership pulled my credit for my new car, they said my credit score is 702...

[HiLine]

Perhaps that additional account puts you in a different risk bracket according to their algorithms.

[GregB]

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cds508 wrote:
My FICO score says 680, my CK shows 642 & my Credit Sesame says 639. But when the dealership pulled my credit for my new car, they said my credit score is 702...

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CK and Credit Sesame provide scores not used by any lender.

myFICO provides FICO scores that will match some lender scores and be similar to others.

First, are they the same CRA?

If they are, then the auto lender used a different version of FICO or the Auto Industry Enhanced verson of that FICO. They will have provided you with some other info that may help to figure out what they pulled. Is there a score range? Any other info?

[SquirrelParty]

My CreditKarma transrisk score is 646 (fair) and has stayed that number for all of December.

My CreditKarma "vantage" score is 904 (an A) and has risen steadily all month - I paid off a few credit cards.

my understanding is that neither of the CK numbers are accurate but the Vantage score is completely useless... just my luck

[Revelate]

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SquirrelParty wrote:

My CreditKarma transrisk score is 646 (fair) and has stayed that number for all of December.

My CreditKarma "vantage" score is 904 (an A) and has risen steadily all month - I paid off a few credit cards.

my understanding is that neither of the CK numbers are accurate but the Vantage score is completely useless... just my luck

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Transrisk is pretty useless other than entertainment value, Vantage has some very small use as lenders will occasionally use it but I don't know of any offhand that make their primary lending decision off of it.

Vantage is developed by the CRA's to be competition to FICO's score, as such, out of any of the non-FICO scores, it's arguably the most beneficial; however, I suspect the number of Vantage-pulls being done is maybe on the order of 1% for non-auto/mortgage approvals, and quite likely a fraction of that.

Edit: ratio of Vantage pulls is probably posted somewhere I just haven't gone looking for it.