Not quite understanding difference

[Anonymous]

There is no such thing as a "fake" score or a "wrong" score.  People use these terms as well as "inaccurate" when talking about anything other than a FICO score. 

FICO scores are certainly the most commonly used and without question the most meaningful.  The other scores, usually from the VantageScore 3.0 model are rarely used or seen outside of these sources like CK, CS, WH, etc.  While they may be in large "worthless" scores, they aren't "wrong" scores, as they're generated using an actual scoring model.

On almost any page or place that provides you with a credit score, somewhere below the score it will say what the scoring model used was and which bureau information was used to generate the score.  Sometimes this information is buried way below in fine print if you scroll down.

For example, on the page you see your score on Credit Sesame it says, "...TransUnion Vantage 3 credit scores..."

[Anonymous]

Thanks for the helpful information everyone!! 😄

[Anonymous]

---

@Gidgetmom wrote:

In addition to SouthJamaica's post, I know that Mint is your EQ Vantage 3.0.

---

I don't know what Mint uses, but it is not any Vantage score. My Vantage scores range between 710 and 725. The Score from Mint is 620. Over the lasy year that I have been using Mint, the score they give me has never been close to the EQ VantageScore 3.0.

[Anonymous]

---

@Anonymous wrote:

---

@Gidgetmom wrote:

In addition to SouthJamaica's post, I know that Mint is your EQ Vantage 3.0.

---

I don't know what Mint uses, but it is not any Vantage score. My Vantage scores range between 710 and 725. The Score from Mint is 620. Over the lasy year that I have been using Mint, the score they give me has never been close to the EQ VantageScore 3.0.

---

Google knows everything.  Just now I googled what credit score does mint provide?

and the following came up at the top of the search:

https://credit.mint.com/

It includes this text:

The credit score provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The 3-bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind that third parties are likely to use a different credit score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

Thus, not a Vantage score.

In a different thread, also getting comments today, people are speculating whether the Equifax Credit Score (i.e. this non-FICO proprietary model) penalizes people for having credit union accounts.

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Do-Credit-union-accounts-lower-my-fico-score/td-p/5039831