topic Re: Why is my Fico Scores 8 significantly lower than my vantage scores?? in Understanding FICO® Scoring

Why is my Fico Scores 8 significantly lower than my vantage scores??

DarkKnight_Credit — Thu, 15 Jul 2021 17:54:53 GMT

Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

So here's my Vantage 3.0 Scores:

TU 719

EX 687

EQ 731

And my FICO 8 scores are

TU 687

EX 678

EQ 691

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

SouthJamaica — Thu, 15 Jul 2021 18:01:57 GMT

@DarkKnight_Credit wrote:
Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

So here's my Vantage 3.0 Scores:

TU 719
EX 687
EQ 731

And my FICO 8 scores are

TU 687
EX 678
EQ 691

They're completely different scoring models.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

DarkKnight_Credit — Thu, 15 Jul 2021 18:06:01 GMT

@SouthJamaica wrote:
They're completely different scoring models.

Yea, I just didn't expect it to be that big of a difference.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

sarge12 — Thu, 15 Jul 2021 18:20:23 GMT

@DarkKnight_Credit wrote:
@SouthJamaica wrote:
They're completely different scoring models.
Yea, I just didn't expect it to be that big of a difference.

Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

DarkKnight_Credit — Thu, 15 Jul 2021 18:36:52 GMT

@sarge12 wrote:
@DarkKnight_Credit wrote:
@SouthJamaica wrote:
They're completely different scoring models.
Yea, I just didn't expect it to be that big of a difference.
Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

The only reason I thought a lot of credit lenders used vantage scores is because you can check your credit scores for free from your credit card profile, where their scores is based off on vantage 3.0 scores from what I saw. That would mean those same lenders who provides free credit vantage 3.0 scores most likely uses FICO scores for their credit decision, correct?

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

sarge12 — Thu, 15 Jul 2021 20:19:47 GMT

@DarkKnight_Credit wrote:
@sarge12 wrote:
@DarkKnight_Credit wrote:
@SouthJamaica wrote:
They're completely different scoring models.
Yea, I just didn't expect it to be that big of a difference.
Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.
The only reason I thought a lot of credit lenders used vantage scores is because you can check your credit scores for free from your credit card profile, where their scores is based off on vantage 3.0 scores from what I saw. That would mean those same lenders who provides free credit vantage 3.0 scores most likely uses FICO scores for their credit decision, correct?

No, the credit cards that provide vantage scores for free, do so because they do not cost them anything to do so. Providing free fico scores come at a cost. Lenders are going to use the scores that the trust most as a predictor of defaults when making lending decisions. Vantage scores have not been around long enough to have the same level of trust by lenders to be as accurate in predicting defaults. Often, credit cards that provide fico credit scores at no charge were pulling fico scores every month anyway, just in case something has changed to warrant adverse action on the account. EDIT::::Correction...I need reading comprehension skills, because the last sentence clearly says Fico, so the right answer is to say yes, correct! The same lenders who provide vantage scores do indeed use fico for lending decisions!

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

Anonymous — Thu, 15 Jul 2021 20:01:14 GMT

@DarkKnight_Credit wrote:
@sarge12 wrote:
@DarkKnight_Credit wrote:
@SouthJamaica wrote:
They're completely different scoring models.
Yea, I just didn't expect it to be that big of a difference.
Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.
The only reason I thought a lot of credit lenders used vantage scores is because you can check your credit scores for free from your credit card profile, where their scores is based off on vantage 3.0 scores from what I saw. That would mean those same lenders who provides free credit vantage 3.0 scores most likely uses FICO scores for their credit decision, correct?

Correct almost all lenders use some version of FICO when making lending decisions. The only commonly known exception to this is Synchrony Bank. The use VantageScore 4.0, which has a different calculation method than 3.0. The only way I know of to get your Vantage 4.0 score is to have a Synchrony account and they provide a free score using TU data.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

Phana24 — Sun, 18 Jul 2021 18:33:48 GMT

@DarkKnight_Credit wrote:
Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

I went on a rebuild mission a couple of years ago, and observed the very same differential. Vantage scores are great for trending, but as many have noted, the actual value is almost meaningless. You can get free FICO 8s from all the CRAs, so that at least gives you up-to-date info on cc scores and they trend well with Auto scores. I have no idea how mortgage scores vary, as I am not going to be in that market again.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

GatorGuy — Sun, 18 Jul 2021 22:38:34 GMT

To answer your question about whether it is common for Fico to be lower than Vantange it just depends on the profile.

My Vantange scores are always significantly lower because I just let balances report as is without regard to utilization impact. Vantange is alot more sensitive to that than Fico. Also, the free Vantange scores like Credit Karma don't count closed accounts in AAoA which also hurts my score since I have many old, closed accounts.

But as already stated, the scores are meaningless and used for nothing.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

DarkKnight_Credit — Tue, 20 Jul 2021 16:15:52 GMT

@Phana24 wrote:
@DarkKnight_Credit wrote:
Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

I went on a rebuild mission a couple of years ago, and observed the very same differential. Vantage scores are great for trending, but as many have noted, the actual value is almost meaningless. You can get free FICO 8s from all the CRAs, so that at least gives you up-to-date info on cc scores and they trend well with Auto scores. I have no idea how mortgage scores vary, as I am not going to be in that market again.

Probably the closest score I have from a vantage score to FICO 8 would be my Experian credit score. There's about a few point differences, but that's it. I wonder whether it's possible that FICO 8 scoring would come close to my vantage score at some point. You can get free FICO 8 from Experian, but that's it from what I saw.

Another thing that threw me off was that I was recommended by my credit advisors to use identityiq, which uses vantage score 3.0 scoring model. They helped me a lot and my score has been raised significantly using them, but it seems now that they were wrong when they told me that website was the most accurate scoring model for other companies to use.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

FireMedic1 — Tue, 20 Jul 2021 21:59:20 GMT

There have been many over the years saying their Vantage scores were 50-75pts higher than FICO and the vice versa in some cases. I was in the FICO 750's until my latest little spree last month into this month. On CK I never reached 720 since BK...ever! But everyone up thread explained it really well.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

DarkKnight_Credit — Thu, 02 Sep 2021 16:46:35 GMT

To give everyone an update. Some GOOD NEWS!! Looks like one of my accounts has fallen off, which was a deogratory account. My Santander auto loan went into collections (I had 3 late payments and a repo, due to having a bad job cutting my hours) 4 years ago.

I honestly don't know why it dropped off so early, since it's not 7 years yet. But I'm greatful!

My Transunion Fico score jumped up a WHOPPING +65 points. And my Transunion vantage score jumped up +25 points. So both scores now are very similar in the higher 750s range. I'm near 760 score right now for Transunion. I'm hoping the santander account will drop on the other bureaus as well. *fingers crossed*

So base off on that. It seems like it's possible that a charge off/collection account makes a bigger impact with FICO scores than Vantage scores probably.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

Anonymous — Mon, 13 Sep 2021 03:53:56 GMT

I have been trying to figure why FICO Scores are over 100 point less than my Vantage scores.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

Anonymous — Mon, 13 Sep 2021 04:02:14 GMT

I have a charge off and I have done the dispute thing and I finally got a reponse that on one credit bureau that it would drop off in Oct 2021 and another in Dec 2021. The other Bureau just verified the account and does not give a drop off date. Jan would be the 7 year mark. Can someone tell me how long would it take the scores to jump from a chargeoff. My scores:

Vantage 3.0 775, 768 770

FICO 660, 648, 678

Big difference. On Vantage the Charge off does not show up on my debt ration but under FICO it does ( Does anyone know why this occurs)

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

marvalgames — Tue, 14 Sep 2021 06:50:07 GMT

Yes. Congrats.

The single biggest difference in the scoring models is that Vantage does not include paid off collections in the model while Fico still carries a big hit. I still have 3 paid collections.. fico around 640. Vantage 720!

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

practical1 — Mon, 01 Nov 2021 01:09:14 GMT

@sarge12

FYI: I can confirm that Vantage scores are used by at least one apartment rental management company. When I moved to Chicago, I rented with a large firm with many buildings in its portfolio under management -- they pulled Vantage 3 score (which fortunately for me, was good that month). I suspect this was backed-into the application software (which seemed very standard) and probably used as well by other firms.

The other lender that I've dealt with that uses Vantage is SunBit. They pulled a TU Vantage before offering me auto repair financing through my Honda dealership.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

Phana24 — Tue, 02 Nov 2021 17:31:58 GMT

@DarkKnight_Credit wrote:
@SouthJamaica wrote:
They're completely different scoring models.
Yea, I just didn't expect it to be that big of a difference.

Throughout both my journey(the percentage variance remained almost constant), as well as my wife's subsequent(and ongoing) journey, we had Vantage scores consistently higher than FICO. My differences probably mirrored yours, whereas my wife was somewhat closer. Once I hit 750, the gap has slowly begun to close.

Re: Why is my Fico Scores 8 significantly lower than my vantage scores??

Phana24 — Tue, 02 Nov 2021 17:33:05 GMT

@sarge12 wrote:
@DarkKnight_Credit wrote:
@SouthJamaica wrote:
They're completely different scoring models.
Yea, I just didn't expect it to be that big of a difference.
Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

The only exception I know of is some Synchrony cards use Vantage.