Venture Denied. Score is WAY off...

[taxi818]

Maybe you didn't get the gist of what he is talking about. On his denied app it gave score. Not their fako. Strictly for venture card. They are using several versions. Other poster. They used fico 3. Me they used vantage 3.0 score. So we don't know if that was their fako or not. Each apper is different. They told me my transunion vantage was 676. My fico 8 is 703. But they are spot on with the vantage. So that's what he means. Not that he is using that score. But it was in his letter.

[TheConstant]

What? There is no such thing as a vantage TransUnion score. The point of the vantage score is to standardize all three bureaus.. To my knowledge, there is only one vantage score, not one for each bureau

[Anonymous]

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@TheConstant wrote:
The point of the vantage score is to standardize all three bureaus.. To my knowledge, there is only one vantage score, not one for each bureau

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Nah, the point was so that the 3 bureaus wouldn't have to pay FICO to get a score.  Coming up with their own score, they cut out the FICO middleman and eat the profits themselves.

Even if you use the same scoring model (ie. Vantage 3.0), each bureau contains different information so the score will be different across 3 bureaus even with the same scoring model.

For example, my EQ almost has 80 accounts , my EX report has something like 81 last I checked.  Even though I can get the Vantage 3.0 score from all 3, they will all be different because they have a different number of accounts

[MarineVietVet]

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@TheConstant wrote:
What? There is no such thing as a vantage TransUnion score. The point of the vantage score is to standardize all three bureaus.. To my knowledge, there is only one vantage score, not one for each bureau

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Actually there is. From my CK account:

[Anonymous]

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@MarineVietVet wrote:

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@TheConstant wrote:
What? There is no such thing as a vantage TransUnion score. The point of the vantage score is to standardize all three bureaus.. To my knowledge, there is only one vantage score, not one for each bureau

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Actually there is. From my CK account:

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Agreed-  

[taxi818]

Bingo. As the letter stated. Based on transunion a vantage score. Hehehe. Yes. Collaboration from all 3 bureaus. But as state. Each bureau has slightly differ info. So score different if they have same info. Score would be exactly the same.

[Revelate]

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@taxi818 wrote:
That's on yours. If they used fico 3. My letter does not say fico on it. 100 percent vantage. As I did look at fico 3. And it ckearly says provided by transunion. Not experian.

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The hell they're using VS 3.0 for UW based on that 300-850 range?  I'm going to be all over that one then, VS bloody loves me for some reason.  Knowing me I'll get an EQ FICO score, EQ hates me these days.

Since they pull all three they could list the score from any of them if they wished.

As an aside FICO v3 in some places is the reference for the typical suite of FICO 04 models from what little I was able to figure out online recently looking for "FICO 2" scores: EX Risk Model v3, EQ Beacon 5.0, TU Classic 04

[Anonymous]

True on both!  I use Creditkarma to look at my report/inquiries everyweek.  And they pull from all 3!  So they can state whatever score they're looking at at that time. 

[Revelate]

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@taxi818 wrote:
Bingo. As the letter stated. Based on transunion a vantage score. Hehehe. Yes. Collaboration from all 3 bureaus. But as state. Each bureau has slightly differ info. So score different if they have same info. Score would be exactly the same.

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They are awfully close for me even with disparate numbers of accounts on my reports actually (off by 1).  Within 4 points between all 3 bureaus, awfully precise algorithm... that was it's design goal though, amd my FICO's on two reports that do have the same information are substantially apart which has been a traditional lender complaint.

Semantics though, the algorithm was jointly designed so I actually somewhat agree (hell is freezing over right now, I'm sure of it) with the designation of it's a vantage 3.0 algorithm run against the Transunion dataset in this case.

[Anonymous]

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@Revelate wrote:

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@taxi818 wrote:
Bingo. As the letter stated. Based on transunion a vantage score. Hehehe. Yes. Collaboration from all 3 bureaus. But as state. Each bureau has slightly differ info. So score different if they have same info. Score would be exactly the same.

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They are awfully close for me even with disparate numbers of accounts on my reports actually (off by 1).  Within 4 points between all 3 bureaus, awfully precise algorithm... that was it's design goal though, amd my FICO's on two reports that do have the same information are substantially apart which has been a traditional lender complaint.

Semantics though, the algorithm was jointly designed so I actually somewhat agree (hell is freezing over right now, I'm sure of it) with the designation of it's a vantage 3.0 algorithm run against the Transunion dataset in this case.

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