topic Re: credit score grade question in Understanding FICO® Scoring

credit score grade question

Anonymous — Mon, 05 May 2008 14:18:00 GMT

Hello, today I obtained my credit report from Transunion. In addition, I ordered my credit score. The score is 852 Grade B. I thought 852 is excellent, so why did I get B for a grade? Is this normal? Thank you Bee

Re: credit score grade question

Anonymous — Mon, 05 May 2008 14:36:10 GMT

That is a VantageScore, not a FICO score. While a very few number of lenders may look at it, the score they will almost definitely use to make lending decisions about you is the FICO score that you can only obtain from myFICO.com.

You should focus on your FICO scores, not these other scores that will only distract and confuse you.

Re: credit score grade question

Anonymous — Mon, 05 May 2008 14:58:47 GMT

Thank you. Bee

Re: credit score grade question

Lel — Mon, 05 May 2008 19:58:10 GMT

@Anonymous wrote:
Hello, today I obtained my credit report from Transunion. In addition, I ordered my credit score. The score is 852 Grade B. I thought 852 is excellent, so why did I get B for a grade? Is this normal? Thank you Bee

First, you should know is that the VantageScore scale goes from 501 to 990, unlike 300 to 850 with FICO. That's why your 852 VantageScore didn't tranlate to an "A" - your score falls about 2/3 of the way between the lowest and highest possible scores, so you have room to move.

The other thing you should know is that there can be a poor correlation between the VantageScore and the FICO score. Case in point: my wife. A couple months back we got her TU credit report, and paid an additional $7 or so to get her credit score. This was back before we knew about the difference between FICO and FAKO. Her score was an impressive 972, just handful of points below the maximum. A week ago we got her actual FICO score, and it was 759, well below the FICO maximum score. There have been no fundamental changes in her credit profile in the interim (no new accounts, no new inquiries, no delinquencies), so this illustrates how different the scores can be.

Re: credit score grade question

Anonymous — Mon, 05 May 2008 22:41:59 GMT

Vantage scores are--for now--basically eye candy.

Re: credit score grade question

RobertEG — Mon, 05 May 2008 23:35:17 GMT

Some would argue that the team gaining the most yards in an NFL game was the better team, and thus had the bragging "Advantage." But the league awards victory based on point differential at the end of the game, and not yardage differential. Which is a better algorithm for evaluating a team is not the issue. It is what is recognized. Try to fnd a correlation between the two!!! The vast majority of the lending community recognize FICO, and not Vantage

If you find a bookie, or an office mate, to take bets based on yardage as opposed to pts, then by all means, go for it!

Most dont. So I bet only on FICO.

Message Edited by RobertEG on 05-05-2008 04:33 PM

Message Edited by RobertEG on 05-05-2008 04:34 PM

Message Edited by RobertEG on 05-05-2008 04:35 PM