CreditKarma vs myFico

[Anonymous]

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@JStayPositive wrote:

Hi I'm new to the forum. I've read various posts and found them very useful! Should I be surprised that there is almost a 50 point difference b'tween Credit Karma and myFico (this is 50 points lower)? 

Thank you.

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I've seen it all with my own credit profile CK Vantage vs. Fico the diff in scoring gaps and at one point in time I didn't know which one lenders actually use. I've read somewhere that some CC use Vantage vs. Fico and vis-a-versa. Anyway I agree with the other commenters that Fico is king which now makes me wonder why the CRBs even created Vantage.

Even within Fico there are several scoring models right? Pretty soon the CRB's are gonna need a runway heheh. Welcome Aboard!

[Anonymous]

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@AnonymousI've read somewhere that some CC use Vantage vs. Fico and vis-a-versa.

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Many CCCs use VS 3.0, but not for lending decisions, which is what matters.  Most that say they use VS 3.0 or when you see graphics from VS 3.0 that states that their model is used by X number of lenders they don't give the footnote that even though it's used it's rarely used for lending decisions.  Some well known CCCs use it sure, like Capital One and Chase for example, but that's to provide you with a monthly score on your account because it's cheap for them to do so.

[Anonymous]

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@Anonymous wrote:

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@AnonymousI've read somewhere that some CC use Vantage vs. Fico and vis-a-versa.

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Many CCCs use VS 3.0, but not for lending decisions, which is what matters.  Most that say they use VS 3.0 or when you see graphics from VS 3.0 that states that their model is used by X number of lenders they don't give the footnote that even though it's used it's rarely used for lending decisions.  Some well known CCCs use it sure, like Capital One and Chase for example, but that's to provide you with a monthly score on your account because it's cheap for them to do so.

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got it thanks again!

[Thomas_Thumb]

I suspect a majority of credit card solicitations, qualification letters, may be based on VantageScore. Once a solicitation bears fruit, the applicant approval process often pulls Fico scores for use in decisioning.

[355F1]

I just went from 23% overall CC Utilization to 3% and my Credit Karma FAKO score dropped 12 points.

Ficos are all over 820 and CK is 768.

hah!