Has anyone had any experience with a bank actually using a Vantage 3.0 score.
Not yet, Alliant provides the score to it's members but I don't think it's using it for underwriting.
I wish, my VS 3.0 score is sooooo sexy!
@EW800 wrote:I wish some creditors would use Vantage 3.0 as well. My 3.0 scores are 798 and 808 -- WAAAAY higher than my FICO scores. It appears that Vantage 3.0 is either more forgiving of past problems or really likes the fact that I have a couple of years of perfect payment history now, coupled with $0 CC debt (other than one card that I allow to report $15 or so).
That's pretty much where I'm at all, though all my past issues are paid up, are yours or are they still open in some cases?
@EW800 wrote:
@Revelate wrote:
@EW800 wrote:I wish some creditors would use Vantage 3.0 as well. My 3.0 scores are 798 and 808 -- WAAAAY higher than my FICO scores. It appears that Vantage 3.0 is either more forgiving of past problems or really likes the fact that I have a couple of years of perfect payment history now, coupled with $0 CC debt (other than one card that I allow to report $15 or so).
That's pretty much where I'm at all, though all my past issues are paid up, are yours or are they still open in some cases?
In my case, my two big baddies are closed with $0 balance. I have a foreclosure that was finalized just over two years ago what shows $0 balance and I have one credit card settlement that is closed with $0 balance from the same time period. Since then, I have paid everything listed below on time and have also brought Util down to almost nothing (all accounts PIF before statement cut, except for one account that allow to show $15-$20). Vantage 3.0 seems to really like this scenario. I like that Vantage 3.0 shows me at about 800, however I admit that it is hard to beleive given these major baddies from just over two years ago.
Well it's nearly unquestionable that underwriting looks at paid collections and tax liens differently than unpaid ones. I haven't found a single lender in my experience that doesn't actually... so why not score them differently?
It wouldn't surprise me if VS 3.0 simply said: paid, no count. FICO 9 does that with collections at any rate. If I had access to EX VS 3.0 I'd actually go check that as I still have my recent paid tax lien on that one and it'd be interesting to see where that was in comparison to my EQ/TU which are both ~765 now.
ETA: Apparently can get my EX VS 3 from credit.com: Whoops, their mainline tracking score isn't the VS 3.0 it's probably the crappy score Experian peddles (Experian National Equivalency Score to be precise). EX VS 3.0 = 765, identical to the 765/766 I have TU/EQ. That's scary similar vs my FICO comparisons from various bureaus which I've been tracking for a while. Looks like paid tax liens are discounting regardless of age, and the CRA marketing literature suggesting the scores are similar regardless of bureau if the data is the same is absolutely right.
Never used credit.com before, like their interface gives a spot on analysis of what I kept in my AAOA spreadsheet though they are using my high balance on my Zync as part of my aggregate credit limit according to them (dur). The again it says I have an A+ for credit inquiries for only having 2 in the last 2 months and 4 total. I've been "Applying for new credit conservatively..." say what? Compared to whom? 