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I was just wondering how accurate are the citi fico scores that they give with certain CCs (too cheap to pay for a full report & don't really have reason to request one..)
@Anonymous wrote:I was just wondering how accurate are the citi fico scores that they give with certain CCs (too cheap to pay for a full report & don't really have reason to request one..)
It's 100% accurate Fico 08 Equifax Bankcard score
If your CK scores went up or down by 100 points....that wouldn't be USEFUL info?
When ppl make wide sweeping declarations w/o context their conclusions can be ...well not very USEFUL.
I mean no offense and no disrespect but in the right context ANY scoring model 'can' or 'can't' be USEFUL
given what's gooing on ....ie the context.
Ex: If one is apping for credit and you know FOR SURE what your credit score is on that one model, with that one
CRA ...but what if the lender pulls a different model, as they can pull whatever they please....
Well in that context even your perfect knowledge of your genuine Fico has just proven itself USELESS.....
Point eing having access, especially FREE access to the data used to generate scors can NEVER be totally useless
and if used within context can be very useful....again depending on the overall GOAL.
Are you qualifying 'yourself' for a mortgage (which the lender is gonna do NOT you anyway) or
is your goal to just keep a eye on the baseline of where you are as a credit risk....one has to decide WHAT exactly their
trying to GET, especially for FREE!
*I think ppl fail to 'understand' that Fico scores are a product are SALE but we've come to a place where folks think of
'my score' as if it's welfare check or something, as if it's OWED
Bottom line No the FREE soda ain't 'real' Coke or Pepsi...but there is no need to think it the FAKE Coke won't wash down a meal...
@Chris679 wrote:
CK hate goes a bit overboard here. They use Vantagescore 3.0. It's not FICO but it's certainly useful.
I like CK because of how it tracks your accounts and the info it provides, I would have never seen a late without CK and get it removed got me up 23 points
never have had luck with the scores though, they're off by nearly 80 points.
serious question, does anything use Vantagescore 3.0?
@Anonymous wrote:I was just wondering how accurate are the citi fico scores that they give with certain CCs (too cheap to pay for a full report & don't really have reason to request one..)
It's perfectly accurate.
What it's not is timely, it seems to update about once very 2 months or so.
@Chris679 wrote:
CK hate goes a bit overboard here. They use Vantagescore 3.0. It's not FICO but it's certainly useful.
Agreed
@Anonymous wrote:If your CK scores went up or down by 100 points....that wouldn't be USEFUL info?
When ppl make wide sweeping declarations w/o context their conclusions can be ...well not very USEFUL.
I mean no offense and no disrespect but in the right context ANY scoring model 'can' or 'can't' be USEFUL
given what's gooing on ....ie the context.
Ex: If one is apping for credit and you know FOR SURE what your credit score is on that one model, with that one
CRA ...but what if the lender pulls a different model, as they can pull whatever they please....
Well in that context even your perfect knowledge of your genuine Fico has just proven itself USELESS.....
Point eing having access, especially FREE access to the data used to generate scors can NEVER be totally useless
and if used within context can be very useful....again depending on the overall GOAL.
Are you qualifying 'yourself' for a mortgage (which the lender is gonna do NOT you anyway) or
is your goal to just keep a eye on the baseline of where you are as a credit risk....one has to decide WHAT exactly their
trying to GET, especially for FREE!
*I think ppl fail to 'understand' that Fico scores are a product are SALE but we've come to a place where folks think of
'my score' as if it's welfare check or something, as if it's OWED
Bottom line No the FREE soda ain't 'real' Coke or Pepsi...but there is no need to think it the FAKE Coke won't wash down a meal...
The "wide sweeping declaration" is exactly what make the poster's statement correct. While the exact numbers aren't available, VantageScore has roughly 5.6% of the market according to this article from 2013. Therefore, VantageScore is only useful in about 5.6% of situations....not very useful.
@nightglider wrote:
@Anonymous wrote:If your CK scores went up or down by 100 points....that wouldn't be USEFUL info?
When ppl make wide sweeping declarations w/o context their conclusions can be ...well not very USEFUL.
I mean no offense and no disrespect but in the right context ANY scoring model 'can' or 'can't' be USEFUL
given what's gooing on ....ie the context.
Ex: If one is apping for credit and you know FOR SURE what your credit score is on that one model, with that one
CRA ...but what if the lender pulls a different model, as they can pull whatever they please....
Well in that context even your perfect knowledge of your genuine Fico has just proven itself USELESS.....
Point eing having access, especially FREE access to the data used to generate scors can NEVER be totally useless
and if used within context can be very useful....again depending on the overall GOAL.
Are you qualifying 'yourself' for a mortgage (which the lender is gonna do NOT you anyway) or
is your goal to just keep a eye on the baseline of where you are as a credit risk....one has to decide WHAT exactly their
trying to GET, especially for FREE!
*I think ppl fail to 'understand' that Fico scores are a product are SALE but we've come to a place where folks think of
'my score' as if it's welfare check or something, as if it's OWED
Bottom line No the FREE soda ain't 'real' Coke or Pepsi...but there is no need to think it the FAKE Coke won't wash down a meal...
The "wide sweeping declaration" is exactly what make the poster's statement correct. While the exact numbers aren't available, VantageScore has roughly 5.6% of the market according to this article from 2013. Therefore, VantageScore is only useful in about 5.6% of situations....not very useful.
The 5.6% number came from the 2006 lawsuit in which FICO sued Vantagescore. It's not 2006 anymore. Vantagescore was developed by TU, EX and EQ as an alternative to FICO and is used for credit monitoring everywhere you look. Is it FICO? No, but half the time FICO isn't even FICO. I just pulled my EX FICO from this site a week ago and here are the different scores I received: FICO Score 8, FICO Score 2, FICO Auto Score 8, FICO Auto Score 2, FICO Bankcard Score 8, FICO Score 3, FICO Bankcard Score 2, FICO Score 9, FICO Auto Score 9, FICO Bankcard Score 9. There is a 73 point spread on these scores all generated from the same report. The people who turn their nose up at non-FICO scores always seem to forget that there is no universally used FICO score either.
There was a time when Vantagescore was crap and the sites that used it would give bad info that contraticted what was really good for you. Those days are pretty much gone and sites like Credit.com, Credit Karma and of course myFico are all useful. A noob that doesn't really know what they are doing is way better off signing up for Credit Karma and following their (free) advice than they would be listening to the BS advice you get from the uninformed public that has no clue how credit scoring works.