Credit karma what is going on

[BallBounces]

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@Anonymous wrote:

  TV watching however is entertainment, as I don't really know any other reason people would do it other than it being enjoyable.

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Some people watch TV to be informed, not enjoyed.  But I digress..........

In any case, it was a light hearted analogy.  VS3 is lame.  Silly Story.   Funny anecdote. Can't we all just get along?  

[BallBounces]

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@amck12 wrote:

I know the scores are BS, but it still pissed me off royally when I took a 0% BT offer to pay off my card, and CK had my score drop 100 points because it was showing the new BT card balance AND the balance on the old card. So my debt essentially doubled according to CK.....grrrrr.... it still hasn't recovered, even tho I slashed total utilization down to about 15% overall from ~43%.

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What if I told you your BallBounces SuperScore V2  rose 11 points to 956?  

If you put as much stock in the BallBounces SuperScore V2 as you do in the VS3 score, it wouldn't "piss you off royally".

[Anonymous]

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@amck12 wrote:

I know the scores are BS, but it still pissed me off royally when I took a 0% BT offer to pay off my card, and CK had my score drop 100 points because it was showing the new BT card balance AND the balance on the old card. So my debt essentially doubled according to CK.....grrrrr.... it still hasn't recovered, even tho I slashed total utilization down to about 15% overall from ~43%.

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That doesn't have anything to do with CK, it's the data that the bureaus have on your account(s).  CK just uses that data as the input to spit out the output score.  If CK is showing a balance on both your new card and old card at the same time, it's because the bureau data they pulled had balances on both of those accounts at the same time.

[FireMedic1]

I'll just say while I sit here and watch TV recouping from a 48hr hell shift from Dorian. Most people after coming here find out that CK or Vantage scores dont mean anything. Then they persue the few free sites that give you your FICO score. Or get cards that do the same. And just use the Vantage site for monitoring. Gotta hand it to them. They are faster than any other FICO site when it comes to some alerts that MyFICO can take a day or 2 to alert you. Thats a good thing OP. But its fun to watch CK try to catch up to my current FICO scores for 4 yrs. And they never will for whats it worth.

[jmos]

Hi. BCU provided my TU Vantage Score 3.0 at the time.

[BallBounces]

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@jmos wrote:

Hi. BCU provided my TU Vantage Score 3.0 at the time.

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So BCU denied your credit card application for the Simply Visa and cited a TU VS 3.0 score in the AA notification?

[8bitmachinegun]

I get VS3 scores from CK and from Capital One (benefit of my auto loan.) It has been bouncing around like crazy over the past few months as I reduce my utilization and some old, but positive, accounts drop off my credit record. CK tends to swing wildly, while FICO reacts with less drama. For example, my CK score dropped 90 points when an ancient AMEX account (10 years old) dropped off my record, whereas FICO only slipped 20 points. That put me in a bit of a panic, but I still got approved for an auto refinance even though my VS3 score was 590.

FICO does seem more consistent and reliable, and many more lenders use it instead of Vantage. So unless your lender uses VS3, I wouldn't worry about it. Of course you may not find out until after you apply for a loan or CC...

[Jnbmom]

CK, good grief I always state how they are good for monitoring reports atleast, well today get an alert "possible negative remark added to BBT account", ummmmm uh oh. Log on the account that they reported transferred/ sold and closed a few days ago, is now listed open again same dates, 100% payment history.  Really CK nice non mislead alert. SMH

[jmos]

That is correct.

[GApeachy]

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@BallBounces wrote:

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@Anonymous wrote:
I get the apprehension about VS3 and its materially different algos from Fico but it is a real scoring system and should be followed along with the others. While everyone is unfamiliar with what makes it tick, if you track it alongside with the changes in your profile over time it will start to make sense. Yes it counts events differently than fico but that is why it exists. Many times changes will occur in your profile but fico wont budge. Meanwhile VS3 is moving like crazy. I feel its way more sensitive than fico to smaller changes or events in your credit activity. Good or bad, its only reacting to data input which is its main purpose. Over time as people start to get a feel for what makes it tick people will warm up to it. In the meantime, i feel everyone should keep an eye on it as its a real thing and is being adopted more and more by lenders. Maybe it wont unseat fico as the top dog in the very near future but it will still be seen as a tool in credit evaluation. Better to try to understand it than ignore it and wish you didnt.

BTW... not affiliated in any way. 😂

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I actually don't disagree with some of this.  There is nothing wrong with trying to know what drives a VS3 per se.

But. 

Let me use an analogy.  

Vantage scores today are about 10% as reliable as a FICO score from a utility point of view.  That is more or less a market fact.  Would you buy a TV that was 10% reliable?  Would you buy  a car that was 10% reliable?  Likely not.  But what if they were free?  I would probably take a free TV that works 10% of the time, and I would soon get frustrated with it's problems and then pitch in the trash followed by a bunch of $%!#@*&%!   words.    But that car?  No way am I getting behind the wheel of a car that might break down or fail to stop 90% of the time.  It's dangerous to my goals of a) getting where I am going and b) doing it safely.

Vantage 3 scores are kind of like that TV as long as we use them for what they are, occasional entertainment.  But I sure as heck am not going to take one for a drive until they improve the product....

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Good analogy...only I wouldn't have taken the TV to begin with, just cause you gotta haul it to trash or take up the garbage can space, either way it's more work than it's worth.  Yeah, CK is kinda like that; you know what you're getting for the most part. But it ain't gospel for sure.