topic Re: Scoring diffs between TU EX, EQ & Vantage in Understanding FICO® Scoring

Scoring diffs between TU EX, EQ & Vantage

Anonymous — Wed, 05 Aug 2009 14:39:25 GMT

Hi folks, Really just an observation

TU 644, as reported by My FICO. on TransUnion site 667 (Same day)

EX 633

EQ 677

FICO 636

Vantage 659 (different scoring method).

Applied for a car loan and received a copy of that report 606.

See next post I am limited to 100 characters

John

Re: Scoring diffs between TU EX, EQ & Vantage

Anonymous — Wed, 05 Aug 2009 14:40:34 GMT

Funny TU, EX, EQ and Vantage all differ significantly. Then get apply for a loan and get something different.

I had two medical bills that were Public records. Date of filing for both were Feb 2003 (1st for the amount of $882, the other was for $844 and filed 13 Feb). These are different account number but only one shows up on TU and EX and the other shows up on EQ & Vantage FICO.

see next post

John

Re: Scoring diffs between TU EX, EQ & Vantage

Anonymous — Wed, 05 Aug 2009 14:41:12 GMT

Does 12 days affect the scoring that much and why the PRs don't both show up on any of the reports is very puzzling? The accounts were actually paid off as soon as I was notified but the hospital had our wrong address and the insurance didn't cover it until we argued the point for both. Then our normal deductible applied and both were handled quickly but trying to get them off our records has been excruciating (didn't see them until 2005 July) arguing with the various agencies has been impossible. Since the PRs fall off in 7 months I am resigned to seeing what happens when they are off completely.

See next post

Re: Scoring diffs between TU EX, EQ & Vantage

Anonymous — Wed, 05 Aug 2009 14:41:47 GMT

It is just puzzling I can't get a concise view of everything in one shot. With EX not sharing info with My FICO I am resigned to using the individual agencies to get a complete view. I am hoping Vantage (synchronization of the credit formulas) will take off more, but in the several years it has been available I just don't see it? Any ideas on the best approach? Currently I get a new score every 4 months from one agency and buy the FCO and Vantage annually.

Regards,

John "Igottagetalife"

Re: Scoring diffs between TU EX, EQ & Vantage

llecs — Wed, 05 Aug 2009 14:58:54 GMT

Welcome to the forums!

Common Abbreviations

Credit Scoring 101

To summarize the CS101 link, the only place you can get your FICO scores are via your lender (if they pull it) and myFICO.com. You can also get your EQ FICO by pulling directly from Equifax.com (EQ only) and get your TU FICO from transunioncs.com (note the -cs). Thanks to Experian, it is impossible to pull your own EX FICO score.

Any other scores pulled by you from any other source are not FICO scores.

The VantageScore is a non-FICO score we call a FAKO score. The scores pulled directly from Transunion and Experian are not FICO scores. The score pulled by your lender may or may not be a FICO score. Some auto lenders use an auto-enhanced FICO score that is weighted towards auto lending.

Re: Scoring diffs between TU EX, EQ & Vantage

Anonymous — Thu, 06 Aug 2009 14:24:18 GMT

Thanks llecs,

I considered all the scores FAKO except those I received from through FICO. The problem for everyone is that Experian & Vantage can't be received through FICO.

Is there any hope of being able to get those reports (EX and Vantage) through FICO?

Regards,

John

Message Edited by igottagetalife on 08-06-2009 07:24 AM

Re: Scoring diffs between TU EX, EQ & Vantage

llecs — Thu, 06 Aug 2009 15:21:06 GMT

VantageScore is a FAKO score; it isn't a CRA like Experian, TransUnion, or Equifax. It is a competing scoring system to FICO. We definitely don't want them around here. The scores are so off base that lenders aren't even switching over to it.

Yes, we'd like Experian to again participate here and offer us the opportunity to biy our Experian FICO scores. At one point we could buy our Experian FICO scores here, but Experian invested gobs of $$$$ into VantageScore and their PLUS score (another FAKO) that they figured by pulling out of myFICO.com they could get people to go to their website to buy a score that lenders aren't even using. Pure economics on their end.

Re: Scoring diffs between TU EX, EQ & Vantage

marty56 — Thu, 06 Aug 2009 21:52:06 GMT

@llecs wrote:
VantageScore is a FAKO score; it isn't a CRA like Experian, TransUnion, or Equifax. It is a competing scoring system to FICO. We definitely don't want them around here. The scores are so off base that lenders aren't even switching over to it.

I havent seen any info on the Vantage score being worse than FICO in terms of predicting default. IMHO the reason lenders are slow to adapt to it is that it is new and I can understand why in these time they would reluctant to change anything. Look how slow lenders are in going to the newer FICO TU scoring system.

EX is in a good position to tweak their Vantage scoring system based on the data they collect.

I like the concept of a letter grade altough putting me as an A in the same category as Matt, someone without a major derog, makes me feel good and in my case a safe bet even though in general it may not be so smart.