Vantage 3.0 Question

[MrTom]

Had a Midland account deleted, it had a balance of 584.

My Vantage Score and Experian score did not go up!

My FICO did...anyone knw why the Vantage didnt go up?

[Anonymous]

Vantage scores are FAKO scores. They are for educational uses only.  The use a diferent model. FICO is the only one that counts.

[MrTom]

I know Vantage is a FAKO score but I was wondering if anyone knew the reason....

[Anonymous]

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@MrTom wrote:

I know Vantage is a FAKO score but I was wondering if anyone knew the reason....

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It's probably some bogus VS 3.0 reason... like you now have 1 less account on your report and they like to see more or something.  Pay it no mind.

[Anonymous]

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@Anonymous wrote:

Vantage scores are FAKO scores. They are for educational uses only.  The use a diferent model. FICO is the only one that counts.

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That really isn't quite accurate.  The use of the term 'FAKO' is really misleading.  The Vantage scores are just as real as FICO scores but they use a different scoring model.  Vantage scores while used by some creditors purely for educational purposes,  they are used by a lot of companies in apartment leases/rentals.  In those cases the scores are very important and shouldn't be ignored.  It's true that for most credit seeking like credit cards and auto/mortgage scores the FICO model is used almost exclusively but Vantage scores do play a role in some people's lives.  

[Anonymous]

I agree with Irish above.  If a potential lender uses the VS 3.0 model in their decisions, I can assure you that your VS 3.0 scores are important should you decide to seek a relationship with them.  In such a situation, the scores would not be for educational purposes.