Do any leaders use VantageScore 3.0?

[Anonymous]

I guess your post above just seems contradictary to me.  First you say or suggest that VS 3.0 may be the more accurate model, then in your next post you say it clearly isn't more accurate as you saw your score drop with negative items removed.  You also said at one point when your VS 3.0 scores were higher than your FICO scores you wanted it to be used more.  You sound confused regarding VS 3.0.

[Thomas_Thumb]

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@Anonymous wrote:

I guess your post above just seems contradictary to me.  First you say or suggest that VS 3.0 may be the more accurate model, then in your next post you say it clearly isn't more accurate as you saw your score drop with negative items removed.  You also said at one point when your VS 3.0 scores were higher than your FICO scores you wanted it to be used more.  You sound confused regarding VS 3.0.

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Yes, there is a tendency to equate model accuracy/validity with how the model scores one's profile: higher score => better model. Based on my personal results, the only highly flawed model is EQ Fico score 5 (EQ Fico 04) :

Really, white papers are the least bias source for information on model accuracy relative to risk. Of course even those studies have an agenda.

[Anonymous]

To answer the OP question about 4-6 weeks ago (September 21 2017)I applied to surge Mastercard (predatory type card)for a credit card and was going through some papers and saw a staement from them showing they used vantage 3 score which surprised me. With a 620 Vantage 3 score source of Transunion I was approved for $500.00 

Hope this helps

[Anonymous]

I just discovered today that my Vantage 3 scores are approximately 50 pts lower than all 3 Fico 8's. I'm new to rebuilding and the forum, so I have no idea what the cause and effect difference is between the two and will be curious to learn more. For now, I'm glad most lenders use Fico 8. My main reason for improving my scores is to get into a beautiful rental community for Seniors and the Disabled, so news that some rental apps are using Vantage 3 is discouraging. But I hope that I'll have healthy scores everywhere after I garden for this next year.

[Anonymous]

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@Anonymous wrote:

To answer the OP question about 4-6 weeks ago (September 21 2017)I applied to surge Mastercard (predatory type card)for a credit card and was going through some papers and saw a staement from them showing they used vantage 3 score which surprised me. With a 620 Vantage 3 score source of Transunion I was approved for $500.00 

Hope this helps

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ABCD, if you're around make sure you take note of this above! 

I'm surprised to see someone using VS 3.0, but less surprised when I see that it's a noname type lender.

[ls2016]

BBVA Compass pulled Experian FICO 8 (696) and Vantage 3 (683) on Nov. 13, 2017.

[ls2016]

Mis-spoke above. It was Experian FICO 9 and Vantage.

[Anonymous]

Does anyone know what lenders use VantageScore in their credit decisions? I believe they're up to version 4.0 now.

[Anonymous]

I hope Vantage 3.0 scores never catch on! I can't speak for Experian and Equifax because we are in the middle of an FCRA civil suit (to be settled in the next few days). BUT my Trans Union Fico 8 score is 736 and my Trans Union Vantage 3.0 score is 681. Now, 681 is not too shabby, but I would much rather banks see me for a 736 score. My Auto Ficos are pushing closer to 800. 

Stats:

24 years old, $187k/year before taxes

5 Auto loans, 1 40k open with 32k left. 

5 CC, 2 open 3 closed 7% usage (the closed ones were opened with Wells Fargo by a banker without my permission, but report positively and I got a settlement check from Wells Fargo so I am not complaining)

2 $7,500 USAA personal loans closed paid in full

1 $1,600 Snap On credit account closed paid as agreed. Reports like a mortgage. 

0 missed payments ever, 0 collection accounts ever, 0 public records ever

Oldest account is 6 years 5 months, average age is 2 years 6 months. 

[MakingProgress]

Because they are free when I started my rebuild I was using CK scores only.  It at least told me if I was doing the right things to raise my score, or at least  thats what I thought.   I notice my VS3.0 scores are pretty consistant between CRA and are usually about 30-40 pts higher than my EX Fico 8.  

An upward or downward trend in VS 3.0 usually is reflected in the EX Fico 8, but not always.   I have noticed a few times that i have seen a wild swing in my VS 3.0 for no apparent reason and my Fico does not change.