Credit Reporting is Nuts!!

[firemartinez1980]

I know sources such as Credit Karma, WalletHub, etc give you Vantage Scores, which overall don't mean to much, but it's nuts how they update sometimes....

I get a notification yesterday my credit score went down 60 points!! So I check on Credit Karma and see what changed and it tells me:

2 Credit Inquires removed

1 Late payment removed

Credit Card Balance decreased by $500

You would think since all of those things are Positive that my score would have went UP, but instead it drops more than 60 points!! **bleep**

[tricie17]

Please stop paying attention to these scores as they are very sporatic (all over the place).  Check your FICO scores by all means.  Although some lenders use Vantage scores, they are not the standard.  

[firemartinez1980]

I already know this, just as I said in my original post, but my point is......WHY?? Why do they drop and vary when things are positive

[tricie17]

From my experience, Vantage scoring is more about your spend and having more rather than good utilization and "0" balances and lates are an absolute "no".  I am sure there is some dp's for the Vantage score on this forum if you do a search or maybe a more experienced contributor can help.  It seems that their algorhythims are opposing to FICO scoring.

[M_Smart007]

Would not pay any attention to FAKO scores.

[RSX]

**You would think since all of those things are Positive that my score would have went UP, but instead it drops more than 60 points!! **bleep**

AND THIS is why you/everyone should ignore FAKO scores

use them as a Credit notification facility only, and you will have significantly less stress

celebrate all of those positive items above while ignoring FAKO!

[Iusedtolurk]

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@firemartinez1980 wrote:

I know sources such as Credit Karma, WalletHub, etc give you Vantage Scores, which overall don't mean to much, but it's nuts how they update sometimes....

I get a notification yesterday my credit score went down 60 points!! So I check on Credit Karma and see what changed and it tells me:

2 Credit Inquires removed

1 Late payment removed

Credit Card Balance decreased by $500

You would think since all of those things are Positive that my score would have went UP, but instead it drops more than 60 points!! **bleep**

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You would think so. I know the feeling. I had 4 positive occurences and my score dropped 16 points and then I had 4 balances increase and my score went up 14 points. That's vantage for you.

The same as you I fully understand the weight of Vantage scores  and their place but one thing that is relevant and noticed by me since I have been on a credit improvement journey is when my Vantage scores go up or down there is movement on my Fico scores also in the same direction although not as much.

I can look at my Vantage scores and pretty much know what my Fico scores look like. With some monitoring services I can see more frequent changes with Vantage than I can with Fico so it gives me current insight while I wait for certain bureaus monthly Fico updates.

[coreysw12]

My Equifax FAKO score tanked 80-ish points one day recently, also for no apparent reason. FICO's didn't change at all. A couple weeks later, it inexplicably shot back up 80-ish points. Still have no idea why - nothing really had changed in my credit profile, and my FICO's never varied by more than 2 or 3 points during that same time period.