topic How Accurate is Wallethub and Nerdwallet scores? in General Credit Topics

How Accurate is Wallethub and Nerdwallet scores?

bhill40 — Tue, 03 Oct 2017 23:21:29 GMT

I am juist trying to find out How Accurate is Wallethub and Nerdwallet scores?

Re: How Accurate is Wallethub and Nerdwallet scores?

peghede — Tue, 03 Oct 2017 23:30:11 GMT

they not fico, they vantage score (40 to 90 points lower then fico 8)

Re: How Accurate is Wallethub and Nerdwallet scores?

K-in-Boston — Tue, 03 Oct 2017 23:34:10 GMT

@peghede wrote:
they not fico, they vantage score (40 to 90 points lower then fico 8)

They can also go the other extreme making someone with mediocre FICO scores think they have better credit than they actually do. My Vantage scores tend to stay in the mid-600s while my actual FICO 08 scores are usually in the 730s and 740s. To answer the question, they are accurate for the model they are based on but few creditors will actually use those scores.

Re: How Accurate is Wallethub and Nerdwallet scores?

Anonymous — Wed, 04 Oct 2017 01:47:11 GMT

@peghede wrote:
they not fico, they vantage score (40 to 90 points lower then fico 8)

There is no correlation between FICO and VS scores, so you can't make a blanket statement that VS scores run X amount lower than FICO scores [suggesting that's the case for everyone] just because that's what you experience.

I've heard of people with VS scores 100 points higher than their FICO scores, and I've heard of people with FICO scores 100 points higher than their VS scores.

To the OP, ALL scores are accurate. Only 3 factors go into a score: The scoring model, the bureau data used and the time at which it was generated.

Re: How Accurate is Wallethub and Nerdwallet scores?

Anonymous — Wed, 04 Oct 2017 01:51:25 GMT

there's a reason they call "vantage' scores "Fako. I have yet to get one credit card where they used a Vantage score. cap one uses Fico 4 that's bad enough .

Re: How Accurate is Wallethub and Nerdwallet scores?

Anonymous — Wed, 04 Oct 2017 02:01:31 GMT

@Anonymous wrote:
there's a reason they call "vantage' scores "Fako. I have yet to get one credit card where they used a Vantage score. cap one uses Fico 4 that's bad enough .

What does Cap One use FICO 4 for? They use VS 3.0 for their Credit Wise product which provides a monthly VS 3.0 TU score to their members.

Re: How Accurate is Wallethub and Nerdwallet scores?

Anonymous — Wed, 04 Oct 2017 02:05:58 GMT

Cap one uses vantage score for the credit works but they pulled Fico 4 for me when I got a quicksilver card 5 months ago....I called and complaned that their score wasn't right to find out they used Fico 4 ...not fico 8. when asking aroound on my fico I see it's a pattern with cap one.

Re: How Accurate is Wallethub and Nerdwallet scores?

Anonymous — Wed, 04 Oct 2017 02:14:43 GMT

Gotcha, I wasn't aware that they used FICO 4 for apps. It's also worth mentioning that the FICO 4 score would be generated from a hard pull from all 3B.