Cap One switching from Credit Tracker

[SouthJamaica]

Capital One has been offering its customers "Credit Tracker" which updated once a month using a TransUnion "New Account" model.

It just announced that it's switching to providing weekly updates using the TransUnion Vantage 3.0 model:

We’re thrilled to announce that we’re giving Capital One® Credit Tracker a big makeover. Over the next few weeks, Credit Tracker will become CreditWise® from Capital One. It’ll still be the same free and easy tool you’re used to, but with a fresh new look and some great upgrades to make your experience even better.

Here are the three things you need to know about CreditWise.
1. We’re going to start using the TransUnion® VantageScore® 3.0 scoring model, which may show a different score than you’re used to seeing. Learn more about your score by watching this short video.

2. We’ve crafted a sleek new design that makes CreditWise more intuitive and easier to navigate.
3. And we didn’t stop there—your credit profile will be updated once a week instead of just once a month, so you’ll be able to sign in and check for score changes more often.
For now, there’s nothing to do but get excited. You’ll start seeing the new CreditWise experience on the banking app and on our website within the next few weeks.

[Anonymous]

For now, there’s nothing to do but get excited

I'll pass on the getting excited part.

[Anonymous]

What is the main reason behind so few true FICO scores? Is it simply a matter of cost to the companies? I know a few use it, but considering it's the most widely used model, you'd think more companies and servies would use it. (I think this every time I see a CK commercial.)

[Anonymous]

Capital one is changing credit tracker to CreditWise and the score is calculated using the TransUnion Vantage 3.0 model

Just got the email, so its just another fako right?

[Broke_Triathlete]

Yes it's the same model as Credit Karma. So yes another FAKO

[L-TWT]

How hard is it to offer a "true" FICO score???

most all lenders provide them 4 free!

[Loquat]

I received that email today as well.  What I don't get is that they offer scores from a model they say they don't use for decision making.  What's the purpose of providing a score that consumers can't even gauge their worthiness with you, the lender providing said score?  Makes no sense to me...

[Anonymous]

I prefer FAKO's to the real credit scores. The real credit scores aren't as nice looking as FAKO's. It placates me.

[Loquat]

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@Anonymous wrote:
I prefer FAKO's to the real credit scores. The real credit scores aren't as nice looking as FAKO's. It placates me.

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I like the cold, hard truth.  If my scores suck, fine, tell me and let me deal with what's bringing them down.  I don't want someone to pacify me...

[Anonymous]

guess my score with cap1 will sink to 601 hahaha.