Vantage Score

[Anonymous]

Is Vantage Score by Experian the same as FICO score? Experian says that it is the same information that lenders see. I know their PLUS Score is not the same as FICO, but was wondering about their Vantage Score.


Thanks.

[Anonymous]

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upmyscore2008 wrote:
Is Vantage Score by Experian the same as FICO score? Experian says that it is the same information that lenders see. I know their PLUS Score is not the same as FICO, but was wondering about their Vantage Score.


Thanks.

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Nope.  It is based on the info in the Experian CR, but it uses a new magic formula which EX claims is more accurately risk-predictive.  As far as I know, major lenders have not adopted it. 

[Anonymous]

It seems to be pulling information from an older EX report, giving me a lower score (even after discounting it for the wider range for Vantage). I just pulled my EX score from myFICO. It is much higher and it has more accurate information.

Thanks.

[Anonymous]

My Vantage score was way lower also.  It had some peculiarities, like one negative factor was that the balance on my mortgage was too high.  OK, give me 27 years and it will be lower.

[Anonymous]

I checked my vantage score last night, and it was very low 2 factors stated no mortgage and credit limits too low. What the hell am I supposed to do about those 2 factors to bring it up? I can't get a higher credit limit due to score, and I can't qualify for a mortgage because of my score. I hope it takes a long time, or never, for lenders to adopt this system.

[haulingthescoreup]

I wouldn't worry about it too much. It's up there with worrying about an asteroid headed to Earth, or something.

As long as you've got your FICO's moving in the right direction, you should be OK. Remember that lenders are very conservative and resistant to change when it comes to switching their risk evaluation tools. As evidence, look at the fact that only now are half the TU pullers moving from their 1998 FICO score formula to the "new" 2004.

[Anonymous]

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turboturtle wrote:
I checked my vantage score last night, and it was very low 2 factors stated no mortgage and credit limits too low. What the hell am I supposed to do about those 2 factors to bring it up? I can't get a higher credit limit due to score, and I can't qualify for a mortgage because of my score. I hope it takes a long time, or never, for lenders to adopt this system.

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The behavior that will get your CLI's will also raise your score and get you eligible for mortgages which will in turn give you a better credit score on a risk assesment model very few use. Keep your priorities straight, pay on time every time and even obscure risk analysts will like you. 

[marty56]

Strange that Vantage Score would ding someone on a mortgage and CLs since both of them are more of a function on income then credit managment.  I live in San Antonio so I can afford a house but if I lived in New York City, I couldnt.  Also in tryong to get a CLI, you wind up with a hard INQ which could loower your FICO score since they think you could be seeking credit.

Finally I have far less avaiable credit now that I am out of debt then I did when me scores were 200 points lower and I had a lot of debt..

Message Edited by marty56 on 06-16-2008 06:40 AM

[smallfry]

For giggles I paid the $5.95 and pulled my Vantage this morning. Mine is 755. Downers were no mortgage, bankruptcy, oldest revolving line of credit too new and inquiries on my Experian report. I know its a FAKO score but it probably has to be considered the AAA of all FAKO scores.

[Anonymous]

Calling it the AAA of all FAKO scores is like saying that of all the 2 day old sushi in the fish department, my sushi is the freshest.