topic Re: Capital One Score? in Credit Cards

Capital One Score?

Anonymous — Sat, 09 Apr 2016 11:25:14 GMT

hi all

I was reading over my denial letter from capital one, and i noticed the score was the same as creditkarma score which is lower than myfico. Does anyone know if capital one uses vantagescore?

Re: Capital One Score?

nycplayboy78 — Sat, 09 Apr 2016 11:30:47 GMT

Capital One uses FICO for their scoring scale. I have a Cap1 card and it uses Experian FICO scoring model.

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 11:33:30 GMT

I know they pulled all 3 of my cr but the score they showed was equifax was just lower than the one on myfico and same as vantage. Maybe i am missing something.

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 12:37:17 GMT

The credit score they pull for your application is based on the Fico model like other lenders. The score they give you on CreditWise is the TransUnion VantageScore 3.0.

Sometimes I have found that your FICO score and your score on Credit Karma are close. But it doesn't seem to be the norm. Right now my wife's score is within 5 points across the board, as of February. It just worked out that way.

Re: Capital One Score?

nycplayboy78 — Sat, 09 Apr 2016 13:17:36 GMT

From Capital One Credit Traker website:

Lenders use many scoring models to calculate your credit score. All these methods take into account key factors, including your history of on-time payments and credit report details, to measure how likely you are to repay a loan. Your Credit Tracker score is based on the TransUnion New Account Model and is intended for consumer informational purposes only.

Re: Capital One Score?

mrcrisp023 — Sat, 09 Apr 2016 14:41:12 GMT

I've found that my Fico scores are nowhere near my credit karma scores. I heard about 6 months ago that credit karma scores are typically much lower than your fico scores and that proved to be correct for me. One of my credit karma scores are 60 pts lower than my fico, and the other one about 70 pts lower. However, I suggested my brother get a Myfico account because his credit karma scores are likely lower than his real fico scores, but his fico scores were actually lower than his credit karma scores. At the end of the day, I place my trust in my fico scores over my credit karma ones.

Re: Capital One Score?

Creditplz — Sat, 09 Apr 2016 16:02:40 GMT

My Fico scores are 82 points ahead of my Vantage 3.0.?? I hope Capital One pull Fico and not Vanatage.. Although I though they pull Fico 04?

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 16:08:43 GMT

Capital One's new online credit score reporting system (CreditWise) is not a FICO 08 score and I find it to be useless. I don't even look at it.

If you have DIscover and/or Barclaycard, use their scores as they provide an accurate FICO 08 score. Capital One does not.

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 16:22:19 GMT

@mrcrisp023 wrote:
I've found that my Fico scores are nowhere near my credit karma scores. I heard about 6 months ago that credit karma scores are typically much lower than your fico scores and that proved to be correct for me. One of my credit karma scores are 60 pts lower than my fico, and the other one about 70 pts lower. However, I suggested my brother get a Myfico account because his credit karma scores are likely lower than his real fico scores, but his fico scores were actually lower than his credit karma scores. At the end of the day, I place my trust in my fico scores over my credit karma ones.

Credit Karma scores are useless. Please do not use them for the purpose of determining your actual score.

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 16:45:37 GMT

Citi gives EQ, Amex gives EX, Discover gives TU. Clean sweep if you have them. I'm not sure if they're FICO 08 or not.

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 17:13:29 GMT

@Anonymous wrote:
Capital One's new online credit score reporting system (CreditWise) is not a FICO 08 score and I find it to be useless. I don't even look at it.

If you have DIscover and/or Barclaycard, use their scores as they provide an accurate FICO 08 score. Capital One does not.

It's amazing how much Capital One's scoring system and a true FICO score differ. For example,

Here's what Capital One's Credit Tracker says:

And here's my actual FICO score, courtesy of Barclays Bank (and verified via MyFICO)

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 17:36:11 GMT

It's different for everyone. Results may vary!

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 19:21:30 GMT

CK and Cap 1 uses Vantage (often called FAKO) for their free scores they provide to you.

AMEX/Citi/Disc/and now BoA uses FICO 8

Cap 1 uses FICO 4 for new accts.

My understanding is that FAKO and FICO 4 are usually (but not always) lower than FICO 8.

My experience is my FAKO is 50-80 pts lower than my FICO 8.

When I apped for the Cap 1 Vantage, the EX FICO 4 they provided was 93 (!!!) pts lower than my FICO 8.

The only real use for the FAKO is to see how your score is trending. That, and CK provides a pretty extensive weekly CR for free.

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 19:35:14 GMT

Isn't Citi's the Bankcard Enhanced version?

Re: Capital One Score?

Anonymous — Sat, 09 Apr 2016 19:39:59 GMT

@Anonymous wrote:
Isn't Citi's the Bankcard Enhanced version?

Yes

Re: Capital One Score?

Ghoshida — Sat, 09 Apr 2016 21:13:23 GMT

@Anonymous wrote:
hi all

I was reading over my denial letter from capital one, and i noticed the score was the same as creditkarma score which is lower than myfico. Does anyone know if capital one uses vantagescore?

Capital One specifically states on their CreditWise page that the VantageScore 3.0 model is used by "some" lenders but Capital One is not one of them.

My CK / CW VantageScores and FICO TU08 scores from Discover / Barclays are typically no more than 10 points from each other. A clear pattern isn't there, i.e. one always greater than the other. However with CreditKarma / VS3, my TU and EQ scores are pretty close. And my FICO TU08 and FICO EX08 (from AMEX) are pretty close too. So I'd believe my FICO EQ08 (not bankcard) to be in the same range.

In my understanding, Cap One uses FICO EQ04. Now I get that from DCU, and it's at least 30 points lower than my CK VS EQ score. I'd think that the EQ04 will be 30-40 points lower than the FICO EQ08 too. However, that doesn't mean that Cap One is using the VS 3.0 scores.