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Valued Contributor
Posts: 1,932
Registered: ‎06-16-2012
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Vantage scores

I am so bummed but it seems its going to take a while for my Vantage EX score (or EX score for that matter) to go up. Unfortunately i know its because of the 2 recent paid collections that are being reported. One is reaching the 2 year mark while the other is under 1.5 years. They are not credit card collections but still a collection. Just refreshed my 3 Vantage Scores from TU website and TU went up to 781, EQ is at 809 and EX only at 733 (actually went down  2 points from previous month). The same with my credit.com Vantage score has me at an estimated 701 (down from 709 previous month). Have no idea what my EX Fico is other than from a letter back from AMEX in August 2012. I know i shouldnt pay attention to FAKO scores but still bumms me out. I know in time those collections will age and fall off. Send my first round of GW to those colleciton companies a couple of weeks ago and nothing so far...:smileysad:

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: Vantage scores

Dont worry with the NEW Vantage Model coming out, any derogs paid and or showing 0 owed will not be counted against your scores. So paying off your charge offs and or collections as examples is suppose to have no impact on your scores.

 

They advertise that 7 of the top 10 Banks are using this NEW Vantage Model. But can not find any other proof as to what Banks or Lenders are using this scoring Model.

 

Personally I can not see how not including the derogative information is giving any Bank or Lender a true look at how you are or arent a credit risk.

 

Being a Mortgage Banker, I will just have to wait and see how this impacts the mortgage world.

Good Luck
May all your dreams and wishes become a reality!
Valued Contributor
Posts: 1,932
Registered: ‎06-16-2012
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Re: Vantage scores


JM-AM wrote:

Dont worry with the NEW Vantage Model coming out, any derogs paid and or showing 0 owed will not be counted against your scores. So paying off your charge offs and or collections as examples is suppose to have no impact on your scores.

 

They advertise that 7 of the top 10 Banks are using this NEW Vantage Model. But can not find any other proof as to what Banks or Lenders are using this scoring Model.

 

Personally I can not see how not including the derogative information is giving any Bank or Lender a true look at how you are or arent a credit risk.

 

Being a Mortgage Banker, I will just have to wait and see how this impacts the mortgage world.


Thanks for the info! I have been wanting to get in with Chase and they are known to us the Vantage model at times for approvals.

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
Established Contributor
Posts: 738
Registered: ‎02-14-2013
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Re: Vantage scores

Has anybody paid the $7.95 to get your new score from Experian? I'm curious to see how much difference there is between 3.0 vs Fico vs EX Plus scores. For me, it could be a significant difference as all my CA accounts and baddies are all showing $0 balance. My 2 new Cap1 cards haven't reported yet, but will in another 7-10 days. That's the only new TL I will have open since my ch7 discharge.
EQ FICO 8: 612 3/26/2015
TU FICO 8: 624 3/28/2015
EX FICO 8: 641 3/25/2015 Goal: 700 Across the board
Barclays Rewards Visa:0/1000 Arrival:1370/3000 Cap 1 QS1:0/3300 Cap 1 Venture:0/5000 Discover It:0/800 Chase Freedom:0/2000 Mid-South FCU:0/3000 CCD 13% Util
Valued Contributor
Posts: 1,932
Registered: ‎06-16-2012
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Re: Vantage scores

[ Edited ]

Im all over the place with it comes to my EX score (Fako of course).

 

I just got approved for a BofA card and since i didnt get the best terms i cannot wait to see with my actual EX Fico score is (thats who they pulled). In August of 2012 it was at 673. According to various sites my EX FAKO scores are as follow:

 

EX Vantage (7.95) 735

EX Plus          700

Credit Sesame 678

Quizzle       762

Credit.com   701

 

 

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
Valued Contributor
Posts: 1,141
Registered: ‎07-18-2009
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Re: Vantage scores


JM-AM wrote:

Dont worry with the NEW Vantage Model coming out, any derogs paid and or showing 0 owed will not be counted against your scores. So paying off your charge offs and or collections as examples is suppose to have no impact on your scores.

 

They advertise that 7 of the top 10 Banks are using this NEW Vantage Model. But can not find any other proof as to what Banks or Lenders are using this scoring Model.

 

Personally I can not see how not including the derogative information is giving any Bank or Lender a true look at how you are or arent a credit risk.

 

Being a Mortgage Banker, I will just have to wait and see how this impacts the mortgage world.



They only exclude CAs with 0 balance. C/Os and lates continue to count and may count more. Vantage Score does this while still becoming more predictive because stand alone CAs without OC chargeoffs are rare and tend to be things like tickets, medical bills and such that are not that reliable as a credit indicator. The other big change is that Vantage Scores will use "fine grain" infomration such as when payments are made and how large they are. This allows them to distinguish PIF types from people that are regularly carrying a balance and represent higher risk.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Established Contributor
Posts: 738
Registered: ‎02-14-2013
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Re: Vantage scores

I logged into Credit Karma today and noticed that my VantageScore (I assume they are still on 2.0) was up nearly 30 points, so I am curious to see what my 3.0 model score would be.  My baddies are old CO/CA that have 0 balances, a very fresh ch7 and 1 judgment that has a 0 balance.  There are 5 good paid accounts either currently paid or paid and closed, but good.  I will have 2 NEW CC show up sometime next week when the statement cuts and they report.  My CC Util should be around 6%.  I have a feeling my 3.0 score, and FICO should be going up....Especially when the new stuff reports.

EQ FICO 8: 612 3/26/2015
TU FICO 8: 624 3/28/2015
EX FICO 8: 641 3/25/2015 Goal: 700 Across the board
Barclays Rewards Visa:0/1000 Arrival:1370/3000 Cap 1 QS1:0/3300 Cap 1 Venture:0/5000 Discover It:0/800 Chase Freedom:0/2000 Mid-South FCU:0/3000 CCD 13% Util
Established Contributor
Posts: 885
Registered: ‎09-10-2010
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Re: Vantage scores


Deltadog03 wrote:
Has anybody paid the $7.95 to get your new score from Experian? I'm curious to see how much difference there is between 3.0 vs Fico vs EX Plus scores. For me, it could be a significant difference as all my CA accounts and baddies are all showing $0 balance. My 2 new Cap1 cards haven't reported yet, but will in another 7-10 days. That's the only new TL I will have open since my ch7 discharge.

My EX score was purchased at the same time as TU and EQ from myfico.  They are in my sig. It was from a few weeks ago, so I am assuming it is new?


TU712, EQ 742 , EX 726 (As of 12/13/14) - Personal Goal = 760

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Valued Contributor
Posts: 1,932
Registered: ‎06-16-2012
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Re: Vantage scores


VirtualCuriosity wrote:

Deltadog03 wrote:
Has anybody paid the $7.95 to get your new score from Experian? I'm curious to see how much difference there is between 3.0 vs Fico vs EX Plus scores. For me, it could be a significant difference as all my CA accounts and baddies are all showing $0 balance. My 2 new Cap1 cards haven't reported yet, but will in another 7-10 days. That's the only new TL I will have open since my ch7 discharge.

My EX score was purchased at the same time as TU and EQ from myfico.  They are in my sig. It was from a few weeks ago, so I am assuming it is new?


on your EX score is it actually a FICO score (from a recent lender?) or is it from their site (EX Plus Score).

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
Established Contributor
Posts: 738
Registered: ‎02-14-2013
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Re: Vantage scores

I was curious to see the new VantageScore 3.0 in action, so I purchased the report from Experian today....Guess what??  Its NOT the 3.0 they advertise.....its the 2.0 scale system....  pissed....ugggh

EQ FICO 8: 612 3/26/2015
TU FICO 8: 624 3/28/2015
EX FICO 8: 641 3/25/2015 Goal: 700 Across the board
Barclays Rewards Visa:0/1000 Arrival:1370/3000 Cap 1 QS1:0/3300 Cap 1 Venture:0/5000 Discover It:0/800 Chase Freedom:0/2000 Mid-South FCU:0/3000 CCD 13% Util
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