Vantage 3.0 Model help needed

[hd197824]

Thank you for any input or help in advance.

My Fico scores ( Experian / Equifax are in the 770 Range)

My Creditwise Score from CapitalOne based on Transunion Vantge 3.0 dropped around 37 points this week.

The only reason I could see on the  Creditkarma site, A BMW i paid off in full ten years ago is no longer in ( removed ) that Transunion 3.0 Model.

All my Fico Scores did not change.

My Credit usage is around 1-2 % , Never late, never carried a balance, alaways paid in full.

Sincerely,

Hendrik

[Horseshoez]

---

@hd197824 wrote:

Thank you for any input or help in advance.

My Fico scores ( Experian / Equifax are in the 770 Range)

My Creditwise Score from CapitalOne based on Transunion Vantge 3.0 dropped around 37 points this week.

The only reason I could see on the  Creditkarma site, A BMW i paid off in full ten years ago is no longer in ( removed ) that Transunion 3.0 Model.

All my Fico Scores did not change.

My Credit usage is around 1-2 % , Never late, never carried a balance, alaways paid in full.

Sincerely,

Hendrik

---

Ignore your Vantage 3.0 scores, they are irrelevant and are unused in the credit industry.

As for carrying a balance, that is good, but you should let at least one card report a trivial balance, say $50, and then pay it off immediately after your statement cuts; this will give you maximum bonus points for your FICO scoring.

[FlaDude]

From what I can tell, closed accounts don't count for average or oldest age for Vantage 3, so that leaves a bit of a mystery why that dropping off would cause a score drop.

[FicoMike0]

I agree with FlaDude, my experience is that unlike fico, vantage doesn't include closed accounts in age metrics.

[Pppoolboy]

Vantage 3.0 is a buggy scoring model which is why it isn't used by lenders.  You can ignore it.  Don't bother trying to figure out its inner workings.

I recently was added as an AU to one of my parents' 40-year-old revolving accounts.  My FICO 8 & 9 scores rose by an average of 12 points.  My Vantage 3.0 scores dropped by an average of 35 points before rebounding, a week later, by about 20 points.  LOL.

[hd197824]

Thank you very much!!!

[Thomas_Thumb]

---

@FlaDude wrote:

From what I can tell, closed accounts don't count for average or oldest age for Vantage 3, so that leaves a bit of a mystery why that dropping off would cause a score drop.

---

Almost everyone continues to be misinformed about VantageScore. It does look at closed accounts for age of oldest and includes closed accounts in AAoA.

This was a topic of discussion 9 years ago and IV provided proof from VS reason statements regarding closed accounts. It looks like IV has joined the ranks of anonymous.

Back in 2015  I too thought only open accounts factored into AAoA. Why? Because the dumb a$$ Credit Karma 3rd party, front end, software calculates it that way.

[JSUB]

What I don't understand is why if Vantage is useless, no one uses it, and it should be ignored why does it even exist? Why are companies using it as a credit score barometer? Why???? I'm semi-serious here. 

LOL

[Horseshoez]

---

@JSUB wrote:

What I don't understand is why if Vantage is useless, no one uses it, and it should be ignored why does it even exist? Why are companies using it as a credit score barometer? Why???? I'm semi-serious here. 

LOL

---

Simple answer, because it is a pseudo score which is free(ish) for them to present to their clients.  

[Thomas_Thumb]

---

@JSUB wrote:

What I don't understand is why if Vantage is useless, no one uses it, and it should be ignored why does it even exist? Why are companies using it as a credit score barometer? Why???? I'm semi-serious here. 

LOL

---

@JSUB 

They use VS 3.0 because it provides value. If it had no value card issuers would not pay the miniscule fees. It is not exactly free.

VS 3.0 is used as a preliminary screen for marketing of credit card products to targeted customers. They also use it for pre-qual determination letters. Then, if a targeted customer applies for a card, Fico score is pulled as part of the approval review process. Pulling a Fico score is much more costly.

VS3 has long had a presence in the rental market where it is used to screen applicants.