topic Re: How Accurate is Capital One's Credit Tracker? in Understanding FICO® Scoring

How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 04:50:09 GMT

Thanks to everybody here at the forums, I just discovered Cap1's LUV button. Requested for both of my cards and received a 3k increase on my Quicksilver and 1K increase on my Journey. An hour later I noticed that my score on the Credit Tracker increased by 9 points! Does anybody know if the Credit Tracker really reflects TU's FICO score?

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 04:52:23 GMT

No. It's their own internal score. Don't rely on it. I cannot find another that matches it.

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 04:54:13 GMT

aw bummer! Thanks though! I figured it's too good to be true if it's a free credit tracker.

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 05:13:03 GMT

Mine's actually lower than my Fico.

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 06:10:23 GMT

No! It doesn't update often either. I will have changes to my FICO scores, but they are usually NOT reflected on the Cap 1 credit tracker. With that said, it doesn't mean that your FICO scores have not increased.Hopefully, your FICO scores will increase with your CLIs. They should lower your utilization.

Re: How Accurate is Capital One's Credit Tracker?

Revelate — Wed, 15 Jul 2015 06:58:06 GMT

Last I heard it was TU's New Accounts Score, which might as well be an educational score for all the traction it has in the industry.

It should be zealously ignored, at least Credit Karma's scores (today, not before when they were likewise using the abovementioned junk score) are used by some small fraction of lenders, and there's about a dozen or more different credit cards from a half dozen different lenders that now offer free FICO scores of varying different bureaus and models, so one shouldn't have to put up with a score that's does more harm than good even if you're not interested in paying for FICO credit score monitoring from one of a couple different places now.

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 13:27:00 GMT

Well it says my Tu score is 622 and my actual tu fico is 715. It's missing a lot of info.

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Wed, 15 Jul 2015 15:48:15 GMT

@Anonymous wrote:
Mine's actually lower than my Fico.

Mine's WAY lower than my Fico, 716 vs 787.

Re: How Accurate is Capital One's Credit Tracker?

SouthJamaica — Wed, 15 Jul 2015 16:25:12 GMT

For several years the only credit score I had available was the Capital One Credit Tracker using TransUnion scores.

While I agree that (a) it's not used by any lenders, (b) it's not as valuable as knowing one's FICO scores, (c) it's usually lower than my FICO scores, and (d) it's only updated once a month, let me say in its defense:

-it's pretty similar to the FICO scores in terms of its various calculations

-it's pretty informative and gives you a pretty clear picture of where you stand

-it's probably more consistent and less volatile than the FICO scores

I'm the type of person who likes to see as many different scoring versions as possible,

but I wouldn't disparage the Credit Tracker. For my money, it's just as good as any of the

others, and in some ways better.

Re: How Accurate is Capital One's Credit Tracker?

EW800 — Wed, 15 Jul 2015 16:35:52 GMT

@Anonymous wrote:
Mine's actually lower than my Fico.

Same here. My CapOne Credit Tracker score is 699. My FICO 8 scores are in the 730 area, bank card enhanced scores are in the 740 range and auto enhanced scores are in the 750-760 range. My Vantage 3.0 scores are 800. CapOne CT is lower than literally all of them.

Re: How Accurate is Capital One's Credit Tracker?

IllinoisNative — Wed, 15 Jul 2015 17:06:51 GMT

Capital One is my lowest at 659. Credit Karma has me at 720 and 711. My FICO has me between 680 and 699 on all three.

Re: How Accurate is Capital One's Credit Tracker?

Thomas_Thumb — Tue, 12 Jan 2016 23:37:46 GMT

Does anyone know what model Cap One credit tracker uses? I would guess that it is provided by one of the CRAs. For example, I know Wells Fargo credit monitoring was affiliated with EX and reports the EX plus score.

Reason I am asking is a young co-worker has Cap One credit tracker. He has only a single CC (from Cap One) that is now 7 months old. Once his card reached 6 months they gave him a 9x increase in CL ($500 => $4500). His credit tracker score is 760 which I found astounding given he is new to credit with a freshly minted credit report.

From earlier posters, it appears they all have lower Cap One tracker scores than their corresponding Fico 8 score. Can it therefore be possible that someone new to credit, with only one account, to start out with a Fico 8 of 760? Has the model that Cap One uses changed in the last 6 months? New to credit with a razor thin file potentially having a top tier Fico 8 credit score is a paradigm shifter for me.

Any data on Fico 8 scores for someone new to credit (under 12 months history) with just one or two open accounts would be appreciated.

I came across a few posts pasted below which are close but more would be helpful.

Short History, Clean Thin File…Approval Odds for Amex BCE or BCP?

12-11-2015 10:06 AM

I want to preface this thread by saying thanks to everyone in the community here. Much of my beginning success has been to reading countless threads by the wonderful and knowledgable people here.

Profile

Income: ~$37000

Oldest Account: 7 months

AAoA (according to myfico): 6 months

Cards: US Bank HD Secured ($500, 5/15); Cap1 Platinum ($1500, 8/15); Discover It ($1000, 12/15)* [I have no other credit history besides these]

Scores: 716 EX, 707 EQ, 712 TU [pulled recently]

*I’ve just (as of an hour ago) apped for the Discover It and got approved for $1000.

CSP Approval? - too short of a credit history?

12-01-2014 01:22 PM

Hey friends!

I've been gunning for a CSP and the last couple of times have not been successful. It's been a couple of months since I last tried and am wondering if it's worth trying again.

I first opened a CitiForward with a $500 CL in January this year (2014) and have paid all my bills on time.

I then opened a BOA Cash Reward Platinum Plus Visa with a $4000 CL in July this year (2014) and this has been my active card ever since.

So the age since my oldest card is 10-11 months, while the AAoA is around 7 months.

My credit score with Equifax is 720

Re: Looking for 2nd Card. CSP/Venture chances??

10-25-2015 03:58 AM

CONGRATS! Very awesome getting the Venture as they say you need at least 3 years history! this gives me hope Also thanks for taking one for the team on that CSP app kidding!

I too have a thin file with less than 1 year CC history, high 700s Fico. I was on the fence about applying...

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Tue, 12 Jan 2016 21:08:19 GMT

I "think" they use TU Vantage 3 score but only update it like once a month. I say think because I am not 100% positive.

Re: How Accurate is Capital One's Credit Tracker?

Aahz — Tue, 12 Jan 2016 22:10:14 GMT

@Thomas_Thumb wrote:
Does anyone know what model Cap One credit tracker uses? I would guess that it is provided by one of the CRAs.

They use the TU New Account Model 3.0

The TransUnion New Account Model, designed with advanced characteristic evaluation and scorecard segmentation, assesses new prospects’ and applicants’ risk level. This model enables institutions to better identify new or prospective applicants who are most likely to become 90 or more days delinquent within a 24-month timeframe.

-Source: https://www.transunion.com/docs/rev/business/financialservices/TransUnion_Models-Jan2011.pdf

EDIT to add screengrab-

Re: How Accurate is Capital One's Credit Tracker?

Aahz — Tue, 12 Jan 2016 22:08:00 GMT

@Thomas_Thumb wrote:

Any data on Fico 8 scores for someone new to credit (under 12 months history) with just one or two open accounts would be appreciated.

Not exactly what you were asking for, but it's the best I've got....

In February 2015 pulled a 3B report w/ scores for my 19year old daughter.

Revolving 1 - Joint BofA BBR - $9k limit, $97 balance, opened Dec '14 (3 months)

Revolving 2 - AU on CapOne - $4k limit, $0 balance, opened Nov '10 (52 months)

Nothing else on reports

FICO 08 - EQ 752 - TU 768 - EX 733

FICO 05 - EQ 782

FICO 02 - EX 784

FICO Auto Score 8 - EQ 750 - EX 730

FICO Auto Score 5 - EQ 781

FICO Auto Score 2 - EX 756

FICO Bankcard Score 8 - EQ 751 - EX 732

FICO Bankcard Score 5 - EQ 784

FICO Bankcard Score 2 - EX 798

Reason codes on all scores are "short history" & "no/few accounts" related.

Re: How Accurate is Capital One's Credit Tracker?

Thomas_Thumb — Wed, 13 Jan 2016 02:02:20 GMT

@Aahz wrote:
@Thomas_Thumb wrote:
Does anyone know what model Cap One credit tracker uses? I would guess that it is provided by one of the CRAs.
They use the TU New Account Model 3.0

The TransUnion New Account Model, designed with advanced characteristic evaluation and scorecard segmentation, assesses new prospects’ and applicants’ risk level. This model enables institutions to better identify new or prospective applicants who are most likely to become 90 or more days delinquent within a 24-month timeframe.
-Source: https://www.transunion.com/docs/rev/business/financialservices/TransUnion_Models-Jan2011.pdf

EDIT to add screengrab-

Thanks Aahz, Score range 150 to 950 per the below table - yes?

MODEL NAME

TYPE OF MODEL

SCORE RANGES

EXCLUSION CRITERIA

DEVELOPMENT DATES

OTHER INFORMATION

TransUnion New Account Score 3.0

Delinquency (90+ days) on new accounts within 24 months

150–950

High score = low risk

Must have:

1 undisputed tradeline with ECOA not equal to ‘A’

No deceased indicator

April 2003

April 2005

14-day inquiry dedupe of all auto-and mortgage-related inquiries

Same-day dedupe of all inquiries

12 scorecards

Scaled to TransUnion Account Management Model

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Thu, 24 Mar 2016 19:31:09 GMT

my CP 1 credit tracker score is 730, but my Fico score is 781.

why such a steep drop between the two??

Thanks for any help in advance.

Re: How Accurate is Capital One's Credit Tracker?

SouthJamaica — Thu, 24 Mar 2016 23:05:54 GMT

@Anonymous wrote:
my CP 1 credit tracker score is 730, but my Fico score is 781.
why such a steep drop between the two??
Thanks for any help in advance.

The Capital One Credit Tracker has changed. It is now based on Vantage 3.0 model using TransUnion data, and is updated once a week.

I think it's pretty accurate.

If you mean, by accurate, how close is it to FICO 8, sometimes it varies substantially, but sometimes it doesn't. At the moment my FICO 8 and my Vantage 3.0, both based on TransUnion data, are identical.

Re: How Accurate is Capital One's Credit Tracker?

Anonymous — Fri, 25 Mar 2016 23:57:26 GMT

@Anonymous wrote:
my CP 1 credit tracker score is 730, but my Fico score is 781.
why such a steep drop between the two??
Thanks for any help in advance.

If you have a new or thin file, the Vantage 3.0 score (used by Capital One Credit Wise, Credit Karma, Credit Sesame, other free sites, and many credit unions) will react agressively to changes that have little impact on actual FICO scores. Example for me today (and I have MANY such examples, as I've been tracking this closely for the last seven months): large credit limit increase on one bank card gave me a 15 point boost on Vantage 3.0. FICO8 change-zero. TU Vantage 3.0 score still 60 points below FICO8 score.

Bottom line, don't use Vantage 3.0 scores as a basis for real world credit decisions. They are used by the free services because they can be obtained for a very low cost.