topic Re: Cap One switching from Credit Tracker in General Credit Topics

Cap One switching from Credit Tracker

SouthJamaica — Tue, 23 Feb 2016 18:45:37 GMT

Capital One has been offering its customers "Credit Tracker" which updated once a month using a TransUnion "New Account" model.

It just announced that it's switching to providing weekly updates using the TransUnion Vantage 3.0 model:

We’re thrilled to announce that we’re giving Capital One® Credit Tracker a big makeover. Over the next few weeks, Credit Tracker will become CreditWise® from Capital One. It’ll still be the same free and easy tool you’re used to, but with a fresh new look and some great upgrades to make your experience even better.

Here are the three things you need to know about CreditWise.
1. We’re going to start using the TransUnion® VantageScore® 3.0 scoring model, which may show a different score than you’re used to seeing. Learn more about your score by watching this short video.

2. We’ve crafted a sleek new design that makes CreditWise more intuitive and easier to navigate.
3. And we didn’t stop there—your credit profile will be updated once a week instead of just once a month, so you’ll be able to sign in and check for score changes more often.
For now, there’s nothing to do but get excited. You’ll start seeing the new CreditWise experience on the banking app and on our website within the next few weeks.

Re: Cap One switching from Credit Tracker

Anonymous — Tue, 23 Feb 2016 20:05:17 GMT

For now, there’s nothing to do but get excited

I'll pass on the getting excited part.

Re: Cap One switching from Credit Tracker

Anonymous — Tue, 23 Feb 2016 21:07:25 GMT

What is the main reason behind so few true FICO scores? Is it simply a matter of cost to the companies? I know a few use it, but considering it's the most widely used model, you'd think more companies and servies would use it. (I think this every time I see a CK commercial.)

Capital One changing Credit tracker to Credit Wise

Anonymous — Tue, 23 Feb 2016 22:16:45 GMT

Capital one is changing credit tracker to CreditWise and the score is calculated using the TransUnion Vantage 3.0 model

Just got the email, so its just another fako right?

Re: Capital One changing Credit tracker to Credit Wise

Broke_Triathlete — Tue, 23 Feb 2016 22:18:10 GMT

Yes it's the same model as Credit Karma. So yes another FAKO

Re: Capital One changing Credit tracker to Credit Wise

L-TWT — Tue, 23 Feb 2016 22:25:30 GMT

How hard is it to offer a "true" FICO score???

most all lenders provide them 4 free!

Re: Capital One changing Credit tracker to Credit Wise

Loquat — Tue, 23 Feb 2016 22:55:06 GMT

I received that email today as well. What I don't get is that they offer scores from a model they say they don't use for decision making. What's the purpose of providing a score that consumers can't even gauge their worthiness with you, the lender providing said score? Makes no sense to me...

Re: Capital One changing Credit tracker to Credit Wise

Anonymous — Wed, 24 Feb 2016 00:10:55 GMT

I prefer FAKO's to the real credit scores. The real credit scores aren't as nice looking as FAKO's. It placates me.

Re: Capital One changing Credit tracker to Credit Wise

Loquat — Wed, 24 Feb 2016 00:14:37 GMT

@Anonymous wrote:
I prefer FAKO's to the real credit scores. The real credit scores aren't as nice looking as FAKO's. It placates me.

I like the cold, hard truth. If my scores suck, fine, tell me and let me deal with what's bringing them down. I don't want someone to pacify me...

Re: Capital One changing Credit tracker to Credit Wise

Anonymous — Wed, 24 Feb 2016 00:21:07 GMT

guess my score with cap1 will sink to 601 hahaha.

Re: Capital One changing Credit tracker to Credit Wise

Anonymous — Wed, 24 Feb 2016 00:25:03 GMT

So they went from the old, crappy CK score to the new, crappy CK score. Awesome.

Re: Capital One changing Credit tracker to Credit Wise

Anonymous — Wed, 24 Feb 2016 01:05:53 GMT

@Anonymous wrote:
I prefer FAKO's to the real credit scores. The real credit scores aren't as nice looking as FAKO's. It placates me.

Re: Capital One changing Credit tracker to Credit Wise

Anonymous — Wed, 24 Feb 2016 03:37:17 GMT

Well, CK has my score right at 100 points higher than Cap1 has me now, so I guess I'll feel a little better lol.

My real TU FICO score is about thirty five points lower than my CK score, but 65 higher than what Cap1 is currently showing me so this will be closer at least I suppose. I get all three real scores from real cards so still no matter though.

Re: Capital One changing Credit tracker to Credit Wise

Anonymous — Wed, 24 Feb 2016 10:09:20 GMT

I am glad they did this. With their credit tracker my scores actually fell 30 points for opening a new credit card with my highest balance yet. Thought having a new credit card with your personal highest balance would improve your score.

Re: Capital One changing Credit tracker to Credit Wise

Rebuilding69 — Wed, 24 Feb 2016 11:41:20 GMT

So we'll be able to see that worthless score more often.

Sweet.

Re: Cap One switching from Credit Tracker

Anonymous — Wed, 24 Feb 2016 11:47:49 GMT

@Anonymous wrote:
For now, there’s nothing to do but get excited

I'll pass on the getting excited part.

You made me laugh out loud.

Re: Cap One switching from Credit Tracker

ccpat — Wed, 24 Feb 2016 15:45:44 GMT

Well it's once a week. At least I can see a trend on either increasing or decreasing.

Capital One- included FICO

Anonymous — Wed, 24 Feb 2016 15:51:56 GMT

Was Cap1 originally giving FICO8? Just received this email-

"We’re thrilled to announce that we’re giving Capital One® Credit Tracker a big makeover. Over the next few weeks, Credit Tracker will become CreditWise® from Capital One. It’ll still be the same free and easy tool you’re used to, but with a fresh new look and some great upgrades to make your experience even better.

Here are the three things you need to know about CreditWise.

We’re going to start using the TransUnion® VantageScore® 3.0 scoring model, "

Re: Capital One- included FICO

myjourney — Wed, 24 Feb 2016 15:57:06 GMT

Both old score and new score are FAKO so don't get excited Lol

There's also a thread on this in ~~scoring~~ General forum

Re: Capital One- included FICO

Chezy1025 — Wed, 24 Feb 2016 15:57:30 GMT

That sounds like an exciting change - I need to keep an eye open for that e-mail! Hopefully it will make their current tracker a little more reliable