Reply
New Member
anm688
Posts: 2
Registered: ‎11-11-2013

Perfect VantageScore, Low FICO Score

Hi All,

 

I'm confused by my credit scores. 

 

I have a perfect 990/990 VantageScore, my credit score, on the other hand, is only 773/850. Any idea on why this would happen? I have perfect credit, and don't know why my FICO would be so low. 

Valued Contributor
thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: Perfect VantageScore, Low FICO Score


anm688 wrote:

Hi All,

 

I'm confused by my credit scores. 

 

I have a perfect 990/990 VantageScore, my credit score, on the other hand, is only 773/850. Any idea on why this would happen? I have perfect credit, and don't know why my FICO would be so low. 


773 is not a low FICO score.  It's a very good FICO score.  VantageScore is a FAKO.  They use different criteria for scoring. 

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
Frequent Contributor
kkapdolee
Posts: 314
Registered: ‎09-17-2012

Re: Perfect VantageScore, Low FICO Score

[ Edited ]

thom02099 wrote:

anm688 wrote:

Hi All,

 

I'm confused by my credit scores. 

 

I have a perfect 990/990 VantageScore, my credit score, on the other hand, is only 773/850. Any idea on why this would happen? I have perfect credit, and don't know why my FICO would be so low. 


773 is not a low FICO score.  It's a very good FICO score.  VantageScore is a FAKO.  They use different criteria for scoring. 


I wouldn't go as far to say Vantage is FAKO. Last I checked, it is still used by a few % of lenders out there as opposed to plain FAKOs which are for educational purposes only and no lenders actually use.

 

OP, where did you get your Vantage score anyways? Credit Karma?

Frequent Contributor
Kratos-TM
Posts: 426
Registered: ‎05-23-2013

Re: Perfect VantageScore, Low FICO Score

[ Edited ]

I don't take the Vantage seriously. My Vantage is 950/990, but TU98 scores me at 770/850. These scores will all be way off from each other. Just the way it works.

Myfico scores.....
EX08... 800 (11-10-13)
EQ04... 790 (12-02-13)
TU08... 810 (12-02-13)
New Member
anm688
Posts: 2
Registered: ‎11-11-2013

Re: Perfect VantageScore, Low FICO Score

@kkapdolee: I did get the VantageScore from CreditKarma.

I realize 773 isn't completely low but I hear you need an at least 800 to get the best rates.
Moderator
09Lexie
Posts: 24,489
Registered: ‎09-13-2012

Re: Perfect VantageScore, Low FICO Score

[ Edited ]
A FICO of +760 will give you the best rates. Scores in the 720 range are considered excellent by some lenders. Ymmv
Valued Contributor
thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: Perfect VantageScore, Low FICO Score

[ Edited ]

09Lexie wrote:
A FICO of +760 will give you the best rates. Scores in the 720 range are considered excellent by some lenders. Ymmv

+1.  760 and above is prime for the best rates.  Only a very few lenders offer something better for 800+.  My credit union, for example, uses the 760 score factor for the best rates, with the exception of personal non-secured signature loans, where they do offer a very slightly better rate (~ .5% better).

 

Regarding VantageScore = FAKO.  VantageScore is to reliable scores as Innovis is to Credit Reporting Agency.  It's out there.  It's not widely used, and not taken seriously. 

 

One could also perhaps say the same for TU98 from here.  Yes, it's a FICO.  No, it's not widely used.  One should not take it seriously, IMO. Use it as a gauge for progress up/down, not for making a determination of credit worthiness.   

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Perfect VantageScore, Low FICO Score


thom02099 wrote:

09Lexie wrote:
A FICO of +760 will give you the best rates. Scores in the 720 range are considered excellent by some lenders. Ymmv

+1.  760 and above is prime for the best rates.  Only a very few lenders offer something better for 800+.  My credit union, for example, uses the 760 score factor for the best rates, with the exception of personal non-secured signature loans, where they do offer a very slightly better rate (~ .5% better).

 

Regarding VantageScore = FAKO.  VantageScore is to reliable scores as Innovis is to Credit Reporting Agency.  It's out there.  It's not widely used, and not taken seriously. 

 

One could also perhaps say the same for TU98 from here.  Yes, it's a FICO.  No, it's not widely used.  One should not take it seriously, IMO. Use it as a gauge for progress up/down, not for making a determination of credit worthiness.   


Some big lenders still use this score.  Telling others not to take it seriously could cause issues.

 

 

Frequent Contributor
kkapdolee
Posts: 314
Registered: ‎09-17-2012

Re: Perfect VantageScore, Low FICO Score

[ Edited ]

thom02099 wrote:

09Lexie wrote:
A FICO of +760 will give you the best rates. Scores in the 720 range are considered excellent by some lenders. Ymmv

+1.  760 and above is prime for the best rates.  Only a very few lenders offer something better for 800+.  My credit union, for example, uses the 760 score factor for the best rates, with the exception of personal non-secured signature loans, where they do offer a very slightly better rate (~ .5% better).

 

Regarding VantageScore = FAKO.  VantageScore is to reliable scores as Innovis is to Credit Reporting Agency.  It's out there.  It's not widely used, and not taken seriously. 

 

One could also perhaps say the same for TU98 from here.  Yes, it's a FICO.  No, it's not widely used.  One should not take it seriously, IMO. Use it as a gauge for progress up/down, not for making a determination of credit worthiness.   


I guess we have different interpretations on what FAKO means. When I hear FAKO, I see them as generic scores that try to pass up as FICO scores. Therefore, every FAKO I see ranges from 300-850. Vantage score is different (range from 501-990). It was created by the three CRAs to become independent of Fair Isaac. They tried to make their product a direct competition which didn't work out so well but they will never try to pass up as a FICO score and fool consumers.

 

I don't know who uses Vantage. I just heard that it is still used somewhere and I don't take Vantage score seriously at all nor do I even seek out what my score is. However, that doesn't make Vantage a FAKO.

Valued Contributor
thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: Perfect VantageScore, Low FICO Score

[ Edited ]

kkapdolee wrote:

thom02099 wrote:

09Lexie wrote:
A FICO of +760 will give you the best rates. Scores in the 720 range are considered excellent by some lenders. Ymmv

+1.  760 and above is prime for the best rates.  Only a very few lenders offer something better for 800+.  My credit union, for example, uses the 760 score factor for the best rates, with the exception of personal non-secured signature loans, where they do offer a very slightly better rate (~ .5% better).

 

Regarding VantageScore = FAKO.  VantageScore is to reliable scores as Innovis is to Credit Reporting Agency.  It's out there.  It's not widely used, and not taken seriously. 

 

One could also perhaps say the same for TU98 from here.  Yes, it's a FICO.  No, it's not widely used.  One should not take it seriously, IMO. Use it as a gauge for progress up/down, not for making a determination of credit worthiness.   


I guess we have different interpretations on what FAKO means. When I hear FAKO, I see them as generic scores that try to pass up as FICO scores. Therefore, every FAKO I see ranges from 300-850. Vantage score is different (range from 501-990). It was created by the three CRAs to become independent of Fair Isaac. They tried to make their product a direct competition which didn't work out so well but they will never try to pass up as a FICO score and fool consumers.

 

I don't know who uses Vantage. I just heard that it is still used somewhere and I don't take Vantage score seriously at all nor do I even seek out what my score is. However, that doesn't make Vantage a FAKO.


For my interpretation, if it ain't a FICO, it's a FAKO.  A pretender to the throne.

 

Is VantageScore used?  Yes, presumably or it wouldn't be out there.  Is it used a lot?  Not so much.  I have a LOT of credit history.  In all that time, I've not seen a single lender quote a VantageScore as the reason for an approval or denial.  Doesn't mean it doesn't happen, just means that, in my over 40 years of credit history, it's never been a factor.  As with anything credit-wise, YMMV. 

 

The OP was saying s/he has a perfect VantageScore and a not so perfect FICO score, but certainly well above the norm, and seemed to be concerned/upset/whatever with the lower score.  Both scores are outstanding and the OP should be proud of both scores.  And really, the only time these pesky scores matter is when we are applying for credit.  On a day-to-day basis, not so much. 

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+