@Thomas_Thumb wrote:
@elim wrote:
@dlm0820 wrote:
@SouthJamaica wrote:My Vantage points rarely move more than a few points in either direction. Today my EQ Vantage 3.0 shot up 25 points but I can't for the life of me figure out why.
Can't detect any change in accounts or significant change in utilization over last week.
Vantage means squat.
Ignore it and move on.
My credit union uses Vantage 3. I have to monitor V3.
and there's this new thread... Auto Loans based on VANTAGE score!
^ Yes VS3 has been and will continue to gain traction. One of their target areas is the rental market.
It is in one's interest to understand factors behind ALL various credit scoring models being used in the marketplace [even if they treat your profile badly]. This includes the somewhat convoluted LexisNexis models used for Auto and Home/Property insurance.
I stand corrected
Revelate posted a while back that he had a Chase card pull Vantage for approval, but that was a few years ago: http://ficoforums.myfico.com/t5/General-Credit-Topics/CK-claims-Vantage-3-0-is-used-by/m-p/3760432#M...
FWIW my own EQ Vantage score is all over the place. In my case I suspect it's primarily due to EQ having no installment loan reporting (an old PIF mortgage seems to keep my TU 'tethered' a bit more).
Here's a recent example (note the change in EQ):
A few months back I also had something "from the past" show up on EQ; it was a 6.5 year old collection I knew nothing about. It dropped my EQ 60 points, and once it was removed (thankfully just a few weeks later) my EQ vantage only recovered around 20 points (and was still sub-700 even with no negatives).
For comparison, Citi shows this is how the temporary collection impacted my FICO score (whatever version they use) - the result was similar:
Other than the drop for the temporary collection in September, you can see my EQ FICO is fairly stable (the June to August 'dip' was from five new accounts reporting, which was expected). However, each week it's like 'throwing the dice' to see what CK is going to tell me has happened to my EQ Vantage. Even with no new activity - only accounts and inquiries aging and utilization basically the same - it will change weekly 20-30 points in either direction. Even before the collection mishap my EQ Vantage had dropped to 710-ish for weeks, then rising slightly only to tank from the collection. (It's actually ironic that only now as I share these screen prints the FICO and Vantage are actually similar for once... LOL)
Edited to clarify: if you look closely at the dates, you see the 51 point increase in EQ Vantage was just last week, while the collection was removed the first of October as reflected in the Citi FICO score, i.e. the collection dropping had nothing to do with the 51 point increase. That's the type of 'odd' movement I'm trying to demonstrate. 
While the Vantage score isn't of as much use as a true FICO, if it weren't for CK I wouldn't have known about the 'phantom' collection and it would have caused me grief when I least expected it. For now that's my primary reason for checking CK each week, but if more lenders do end up using Vantage I guess I'll be checking CK for their score as well.
@sjt wrote:Im wondering if Chase uses Vantage for Pre-Quals.
I wouldn't in their shoes and I'd be utterly surprised if they did: why pay for a score while doing pre-quals when you can just use your internal score?
If I really had to guess Chase was trial-running Vantage for UW on the Freedom which at that time was certainly their entry level product; now though they appear to be on some mix of internal scoring and FICO. I wasn't the only one to be underwritten on Vantage at that time, but I haven't heard of it since. There were a couple posts around a year ago that suggested C1 was using a mix of FICO 04 and Vantage for approvals but I never really saw any sort of confirmation of that.
In news of Vantage, I just got my EX VS from credit.com and it looks like I might've taken a 40ish point hit for having my tax lien nuked from that bureau... waiting to see what the next Alliant report does, interested in the score factors too sadly I don't know where else to get those other than Alliant.
