@JustcallmeTM wrote:Someone should check those Chase scores to vantagescore and see if they are similar. I have been reading that in 2016 8+ billion credit card applications used vantagescore not fico to approve the cards, the banks won't tell you that either.
From consistent reading they have been seperating credit cards from mortgages and loans. More banks are using vantagescore for credit cards and CLI and FICO for everything else. Some people won't believe it but they have to do there own HW to see for themselves than just 1 person mentioning it. Vantagescore was created by the 3 CB agencies and with vantagescore 4 coming out the CB's are forcing banks to update there information for accuracy.
For all we know there internal scoring system is probably no different than what vantagescore or is comparable.
Different score range, it's not Vantage.
Chase used to UW on Vantage at one point for some products / customers (my Freedom denial pre-recon came with a VS score) but they were trialing an internal algorithm as well back in 2013/2014 IIRC along with Vantage.
They've since shifted to internal for a bunch of their apps, haven't seen anything which matches Vantage in years from Chase, and if it were FICO it'd say FICO.
Just like there's no real comparison between FICO and Vantage scoring (other than broad strokes, BK or missed payments bad for example) there isn't any correlation to Chase's internal model. Also I assure you Chase has the resources to develop their own algorithm, heck the much smaller lender I worked at developed their own algorithms, Chase likely spends orders of magnitude more money on theirs... comparing Chase's filings vs. the bureaus or vs. FICO's, well, lots more resources and a whole bunch of internal data too makes for a winning scenario.
