Just a reminder - Vantage scores are useless.

[WorkingHard56]

Like everyone else here , I have been working very hard on improving my credit.

Credit Karma is a great tool to keep track of balances and to keep an eye on any new accounts. But the scores they provide are worse than useless. They are deceiving.

My EQ Fico score has jumped to 655 however my CK EQ has dropped every week with a current score of 498.

Get your real scores and base your decision off that.

[Anonymous]

I don’t know that I’d call them useless. They’re just another version of a credit score. That said, vantage scores never really got a large following, but there are lenders out there that may use them.

If you want a FICO score, find a service that provides them, not one that provides a Vantage score. Kind of like buying hot dog buns when you want hamburger buns and then calling the hot dog buns useless

[Kforce]

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@Anonymous wrote:
They’re just another version of a credit score.
Kind of like buying hot dog buns when you want hamburger buns and then calling the hot dog buns useless

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+ 100

They are what they are, but not useless.

[Brian_Earl_Spilner]

Chase and Capital One use VantageScores to make decisions.

[WorkingHard56]

What decisions are these ?

[Anonymous]

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@Brian_Earl_Spilner wrote:

Chase and Capital One use VantageScores to make decisions.

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And they also use Fico scores and/or internal scoring to make decisions, probably far more often than they use VS.

[Anonymous]

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@WorkingHard56 wrote:

Get your real scores and base your decision off that.

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VS 3.0 is a real scoring model, so they are "real scores."  They just aren't Fico scores, so they are far less meaningful and in the majority of cases irrelevant unless you find a lender that specifically uses them.

[Brian_Earl_Spilner]

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@WorkingHard56 wrote:
What decisions are these ?

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I've been denied for both a Cap1 and Chase card based on VS3, and I used to work at Chase, so I know they pull them along with 2 FICOs. The true value in vs is being able to score someone with less than 6 mos of credit history and trended data. Now that FICO is doing trended data, that value may drop significantly.

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

Chase and Capital One use VantageScores to make decisions.

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And they also use Fico scores and/or internal scoring to make decisions, probably far more often than they use VS.

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Chase does value those more. The OP is basically saying VantageScores are worthless. My post was made to try and stop the continued myth that VantageScore is useless, which it isn't.

[AverageJoesCredit]

The problem here is often too many times Vantage is mentioned, everyone chimes in saying they are useless, get your Ficos. Vantage isnt useless, just less used. Its slmost a mantra here on myFico, thus some people will believe they are mesningless.