CK Scores

[bs6054]

The different types of scores on Credit Karma seem to give different pictures.

I just noticed that my Vantaget is now reporting as 990, which I think is the maximum,  my transrisk as a good but not great 752 (myFico gives 778) and auto insurance as an 852 (fair, just recently moved from Poor).   So wish that everyone used Vantage, but glad they don't use the auto insurance score (I really don't know why there is such a difference there).

[trumpet-205]

Chase uses VantageScore. The trend however, are lender moving to develop their own credit score, rather than relying on FICO or Vantage.

Your auto insurance score is a factor to determine your insurance rate, unless you are in one of the state that prohibt such practice (such as California).

[bs6054]

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@trumpet-205 wrote:

Chase uses VantageScore. The trend however, are lender moving to develop their own credit score, rather than relying on FICO or Vantage.

Your auto insurance score is a factor to determine your insurance rate, unless you are in one of the state that prohibt such practice (such as California).

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Fortunately (given it was "poor" a few weeks ago), MA also prohibits use of insurance score.

[visorboy1974]

The auto insurance score fluctuates based on number of inquiries for me as well as number of account balances, no matter how small.  It's like a yo-yo every month.  

[Involus]

Insurance score means almost nothing honestly - it's highly inaccurate I feel as well. I have like a 790 insurance score yet I have no derogs, low util perfect payment history and so on. So how does that mean that I'm more likely to submit a claim? Where as my girlfriend has close to a 850 insurance score yet has a collection for over $4k... hmmm.. Means nothing to me. My auto insurance is lower than most my friends my age too. Yet my insurability is poor.. Again, means nothing.

[bs6054]

I wonder if there is some flakiness going on with the site.  

Yesterday, for the first time, I was amazed to see that my odds for two credit cards (Citi Diamond Preferred and Barclay Arrival) were marked as "Poor".   My CK score had just gone down by about 15 points, when my new mortgage finally starting reporting, but that didn't seem to account for it, as many other "Excellent" credit cards still had odds of "Very Good". 

So I wondered if they really did a deep analysis," if you have another Barclaycard in the last X months, and a recent CLI, and..., then Barclays won't give another card."

  But I just logged in again, nothing has changed, and those now show with odds as "Very Good".   Probably not the primary tool to base financial decisions on!

[jake619]

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@trumpet-205 wrote:

Chase uses VantageScore. The trend however, are lender moving to develop their own credit score, rather than relying on FICO or Vantage.

Your auto insurance score is a factor to determine your insurance rate, unless you are in one of the state that prohibt such practice (such as California).

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Wait, what?  

[visorboy1974]

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@bs6054 wrote:

Probably not the primary tool to base financial decisions on!

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Yeah, I wouldn't base too many financial decisions on a FAKO.  

[GregB]

Chase uses Vantage for a few store cards that are managed by Chase. Wild guess is we are talking about 1% of Chase business at most.

All three CRAs have insurance scores including general, home, auto. They are not just credit based scores. My insurance score on CK has never moved while the other two credit scores have made large changes, frequently in different directions.

Also, a Vantage score reported as 990 has clearly broken their system and is a good example of why lenders mostly don't use it. Since we don't know which revision of Vantage is being used by CK, we don't know if the newer version "fixed" that or if it is going to be fixed in the next revision of Vantage.

[bs6054]

Well, 990 is "legal", just the maximum score.  Scrolling back on CK, in March is was 900, up to 980 in May, 920 is Sep, then since then, slowly rising and now for the last several days, it's reporting at 990.  So clearly very volatile, at least as implemented on CK!