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Vantage always has me scratching my head. It has finally gotten closer to my FICO scores but has me well below my mom's Vantage scores (even though my FICO scores are higher than hers). I am sure it has to do with having a charge-off with a balance on my profile, but still, there being a 50+ point difference between us, when my FICO scores are around 10-20 points higher than hers, is weird.
FWIW - Scoring category evolution and VantageScore 3.0 categories compared to Fico 8
[Orange bars are most recent weighting allocations for VS 3.0]
At three different times during the last 4 years, I've also noticed that the vantage 3.0 scores mirror my fico scores for the most part.
Its a convenient estimate nonetheless, I don't give it too much weight. I'll be sure to use/check FICO when apping for a mortgage or business loan though
@Anonymous wrote:
Available credit gets a 1% slice of the vs 3.0 pie. Interesting.
Actually it's 3%. The Fico/VS Info graphic was a bit dated. Added more recent graphics to the above post.
Nice and good to know. I wonder what sort of thresholds or "sweet spot" there is in order to get max points for that small sliver of the pie.
@Thomas_Thumb wrote:
@Anonymous wrote:
Available credit gets a 1% slice of the vs 3.0 pie. Interesting.Actually it's 3%. The Fico/VS Info graphic was a bit dated. Added more recent graphics to the above post.
What is "Depth of Credit"? Age and type of credit?
@DaveInAZ wrote:
@Thomas_Thumb wrote:
@Anonymous wrote:
Available credit gets a 1% slice of the vs 3.0 pie. Interesting.Actually it's 3%. The Fico/VS Info graphic was a bit dated. Added more recent graphics to the above post.
What is "Depth of Credit"? Age and type of credit?
Depth of credit = age and type of credit = (length of credit history + types of credit).
Note: In addition to percent of credit limit used (utilization) VantageScore also looks at Balances (dollar amount). I have experienced a VS 3.0 score drop (7 points) that may have related to balances, not utilization. At the time my balance reported was slightly over $7800.
Could aggregate balance on CCs be a tiered factor with VS 3.0?
Below is a list of VantageScore 3.0 Reason codes and statements (negative only although there is a positive list as well). Click on a code to go to a web page with a more detailed description of the attribute.
VantageScore 3.0 codes v3
04: The balances on your accounts are too high compared to loan amounts
05: Too many of the delinquencies on your accounts are recent
06: You have too many accounts that were opened recently
07: You have too many delinquent or derogatory accounts
08: You have either very few loans or too many loans with recent delinquencies
09: The worst payment status on your accounts is delinquent or derogatory
10: You have either very few loans or too many loans with delinquencies
11: The total of your delinquent or derogatory account balances is too high
12: The date that you opened your oldest account is too recent
13: Your most recently opened account is too new
14: Lack of sufficient credit history
15: Newest delinquent or derogatory payment status on your accounts is too recent
16: The total of all balances on your open accounts is too high
17: Balances on previously delinquent accounts are too high compared to loan amts
18: Total of balances on accounts never late is too high compared to loan amounts
21: No open accounts in your credit file
22: No recently reported account information
23: Lack of sufficient relevant account information
29: Too many of your open bankcard or revolving accounts have a balance
30: Too few of your bankcard or other revolving accounts have high limits
31: Too many bankcard or other revolving accounts were opened recently
32: Balances on bankcard or revolving accounts too high compared to credit limits
33: Your worst bankcard or revolving account status is delinquent or derogatory
34: Total of all balances on bankcard or revolving accounts is too high
35: Your highest bankcard or revolving account balance is too high
36: Your largest credit limit on open bankcard or revolving accounts is too low
39: Available credit on your open bankcard or revolving accounts is too low
40: The date you opened your oldest bankcard or revolving account is too recent
42: The date you opened your newest bankcard or revolving account is too recent
43: Lack of sufficient credit history on bankcard or revolving accounts
44: Too many bankcard or revolving accounts with delinquent or derogatory status
45: Total balances too high on delinquent/derogatory bankcard or revolving accts
47: No open bankcard or revolving accounts in your credit file
48: No bankcard or revolving recently reported account information
49: Lack of sufficient relevant bankcard or revolving account information
53: The worst status on your real estate accounts is delinquent or derogatory
54: The amount of balance paid down on your open real estate accounts is too low
55: Open real estate account balances are too high compared to their loan amounts
57: Too many real estate accounts with delinquent or derogatory payment status
58: The total of all balances on your open real estate accounts is too high
61: No open real estate accounts in your credit file
62: No recently reported real estate account information
63: Lack of sufficient relevant real estate account information
64: No open first mortgage accounts in your credit file
65: Lack of sufficient relevant first mortgage account information
66: Your open auto account balances are too high compared to their loan amounts
68: No open auto accounts in your credit file
69: Lack of sufficient relevant auto account information
71: You have either very few installment loans or too many with delinquencies
72: Too many installment accounts with a delinquent or derogatory payment status
73: The worst status on your installment accounts is delinquent or derogatory
74: The balance amount paid down on your open installment accounts is too low
75: The installment account that you opened most recently is too new
76: You have insufficient credit history on installment loans
77: Newest delinquent or derogatory status on installment accounts is too recent
78: Balances on installment accounts are too high compared to their loan amounts
79: Too many of the delinquencies on your installment accounts are recent
81: No open installment accounts in your credit file
83: Lack of sufficient relevant installment account information
84: The number of inquiries was also a factor, but effect was not significant
85: You have too many inquiries on your credit report.
86: Your credit report contains too many derogatory public records
87: Your credit report contains too many unsatisfied public records
88: One or more derogatory public records in your credit file is too recent
90: Too few discharged bankruptcies
93: The worst status on your student loan accounts is delinquent or derogatory
94: The balance amount paid down on your open student loan accounts is too low
95: You have too many collection agency accounts that are unpaid
96: The total you owe on collection agency accounts is high
97: You have too few credit accounts
98: There is a bankruptcy on your credit report
@Thomas_Thumb wrote:
@DaveInAZ wrote:
@Thomas_Thumb wrote:
@Anonymous wrote:
Available credit gets a 1% slice of the vs 3.0 pie. Interesting.Actually it's 3%. The Fico/VS Info graphic was a bit dated. Added more recent graphics to the above post.
What is "Depth of Credit"? Age and type of credit?
Depth of credit = age and type of credit = (length of credit history + types of credit).
Note: In addition to percent of credit limit used (utilization) VantageScore also looks at Balances (dollar amount). I have experienced a VS 3.0 score drop (7 points) that may have related to balances, not utilization. At the time my balance reported was slightly over $7800.
Could aggregate balance on CCs could be a tiered factor with VS 3.0?
Could well be. I check my credit scores Sunday mornings. CK Vantage scores remained the same 658/665 TU/EQ, while my EX Fico8 went up 10 points to 712, TU up 2 points to 714, EQ 716. My CC utilization is 17% ($20,000) but I have some hefty individual (0%APR) balances: Cap One Quicksilver $9700 (48% of CL), Cap One Spark $3950 (44%), and Amex ED $3950 (39%).