Cap One switching from Credit Tracker

[Anonymous]

SGTtar keep in mind the vantage 3.0 CK uses is very new account sensitive so it won't be too much different

[Thomas_Thumb]

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@Anonymous wrote:

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.)

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There is an effort by the CRAs to come up with an alternate credit scoring standard having widespread adoption. The alternative model is VantageScore. The VS 3.0 model has been making headway in replacing other 3rd party scoring models (such as Transunion New accounts, CreditXpert , CE and Experian Plus.  VS 3.0 has now been adopted by CK, Credit Sesame, TU credit monitoring, EX for share secure, Credit.com as a secondary score and now apparently Cap One credit tracker. 

Quite a few of these 'free" sites are affiliated with CRAs so it is not surprising they are migrating toward VantageScore. Here is a paste from TU.

[Anonymous]

The simulator shows me an increase when I use the CK one.  I thought that was vantage 3.0 as well?  However, the tracker simulator form cap one shows me a decrease for the same.

[Anonymous]

Are there any lenders out there that use Vantage 3.0?   

[Anonymous]

Cap1 upgrading to Transunion 3.0 hopefully way more accurate. Their other scoring model was pretty useless. Good job Capital One!

[Anonymous]

They're switching to Vantage 3.0, same as Credit Karma uses.

http://ficoforums.myfico.com/t5/General-Credit-Topics/Cap-One-switching-from-Credit-Tracker/m-p/4471...

[someg33k]

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@Anonymous wrote:

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

I'll pass on the getting excited part.

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Agreed. Providing me with an almost useless score that I can already get free from places like CK. However it is a slight upgrade from the entirely useless Transrisk score. I like Cap1 a lot, I really do. But WTH that even my Walmart card provides me with a real fico and Cap1 "upgrades" to Vantage?!

[Anonymous]

It's also a credit report and credit monitoring (alerts), not just a score.

[Anonymous]

It's like in the movie Annie, you go from cold mush to hot mush.

[Anonymous]

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@Anonymous wrote:

I am glad they did this.  With their credit tracker my scores actually fell 30 points for opening a new credit card with my highest balance yet.  Thought having a new credit card with your personal highest balance would improve your score.

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Why would any of this even matter. The fact that one fake number goes up and another fack number goes down? They are both still fake. Just trying to understand why you are glad over this..