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Does Capital One Actually Use Vantage 3.0?

Established Contributor

Re: Does Capital One Actually Use Vantage 3.0?

@JagerBombs89 wrote:

Makes sense doesn't it?! 


"Here is your credit score.  By the way, it is Vantage 3.0 and not even we use it to determine your credit worthiness!"

That's better than the "this isn't really any kind of credit score, we are just making it up to make you feel good about yourself" numbers we were getting a few months ago. Smiley Frustrated

Giving up on the images for now

Stepped out of the garden 10/9/16

Message 11 of 13
Established Contributor

Re: Does Capital One Actually Use Vantage 3.0?

My guess is that credit card companies want to encourage responsible credit usage and teach people what constitute good credit behavior.


I heard in the old days only rich people could have credit cards and the credit card companies realized that they could make money earning interest off the middle class and poor as well perhaps in the last 16 years or so*. 


*I don't watch television but I assume that credit card companies have been aggressive with marketing their credit card products since around 2000. I don't really remember much credit card advertisements back in the 90s but again, I don't watch television. Perhaps someone can pitch in here.

American Express Blue Cash Every | Discover it | Citi Double Cash | Capital One Quicksilver | Capital One Quicksilver One | Barclay Rewards | Amazon Store Card | PayPal Credit | J. Crew | Old Navy All approved in 2015. Garden Club member since 10/13/2015. Credit score 742+.
Message 12 of 13
Moderator Emeritus

Re: Does Capital One Actually Use Vantage 3.0?

There were plenty of CC offers when I was in college the first time in '93 and that wasn't a new thing.  Probably since 1980 or thereabouts I'm guessing they were common place though doubtful they were marketed nearly as much as they are now.


Any credit education is good in my estimation; Vantage was used to underwrite my Freedom back in 2013 so it's not just an educational score; however, at that time Chase was using FICO, VS, and internal scores, and the score they've apparently switched to giving most folks is now the internal one.


Have to see what score I get from Chase since I doubt I got their bottom tier rate on my new FU but sadly their online interface just says 0% for Purchase APR.. so guess I get to wait to see what I get in the mail heh.  We had reports of Cap 1 using a mix of VS and FICO 04 models during the Venture craze last year but those things not only change over time, it's somewhat hard to get good concrete data for.


In general I just try to make a pretty report, which should result in a pretty score regardless of what algorithm the lender picks.  They do some things differently but VS is reasonably well characterized and what's good for FICO is typically good for VS (mostly).

Message 13 of 13
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