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VantageScore claims usefulness

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Senior Contributor

Re: VantageScore claims usefulness

In fact, over 3 billion VantageScore credit scores were pulled in 2014, including scores used for decisioning, model building, and testing purposes.

 

I wonder how many of those pulls were Credit Karma.

Message 11 of 23
Valued Contributor

Re: VantageScore claims usefulness

The myfico webmasters better start building the new credit monitoring wonder of the world....myVANTAGE.com

 

It's a comin' people.  You heard it here lst.

Message 12 of 23
Moderator

Re: VantageScore claims usefulness


@gdale6 wrote:

http://www.vantagescore.com/who-uses-our-model

 

http://www.nafcu.org/VantageScore/


Id love to know which CUs are using it.  I belong to 4 of them and they don't.  

Message 13 of 23
Valued Contributor

Re: VantageScore claims usefulness


@Irish80 wrote:

@gdale6 wrote:

http://www.vantagescore.com/who-uses-our-model

 

http://www.nafcu.org/VantageScore/


Id love to know which CUs are using it.  I belong to 4 of them and they don't.  


Well, there's only 6,553 CU's left.  Your 4 CU's make up .061 % of the CU's in the country.  I'd say your chances are pretty good that your 4 CU's are NOT using the Vantage model.

 

lol

Message 14 of 23
Super Contributor

Re: VantageScore claims usefulness


@racer-x wrote:

@Irish80 wrote:

@gdale6 wrote:

http://www.vantagescore.com/who-uses-our-model

 

http://www.nafcu.org/VantageScore/


Id love to know which CUs are using it.  I belong to 4 of them and they don't.  


Well, there's only 6,553 CU's left.  Your 4 CU's make up .061 % of the CU's in the country.  I'd say your chances are pretty good that your 4 CU's are NOT using the Vantage model.

 

lol


The thing about any scoring model is, if the bell curve is just shifted to a new part of the 300-850 range, then the lenders, CCC, are going to adjust their underwriting to accomodate that. So if you have an 800 Vantage, and a 720 FICO, everyone else who has a 720 FICO is likely to be in the 800 Vantage range also, so the CCC has to adjust down (keep the same) the credit they would grant to those folks, not use the "FICO 800" mindset.

 

Repayment still depends on income level, CL still depend on spend patterns and comparable CL.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 15 of 23
Established Contributor

Re: VantageScore claims usefulness

only thing vantage does is it makes me feel good for a min then i realize it's basically useless. 730 for both on CK,
started rebuild in 2014 and all scores mid 500
01/14 - BOA secured card 02/14 - Cap 1 secured card
11/14 - Chase Freedom $4000 02/15 - Sallie Mae $2200
Feb 2015 Myfico
EQ: 703 TU: 661 EX: 668
Message 16 of 23
Regular Contributor

Re: VantageScore claims usefulness

Me too, Vantage says 723/703, reality is 650 at best according to Janaury NFCU EQ score.  Good for tracking, though, maybe and passing the time.


AMEX Everyday 15K
NFCU Cash Rewards 10K
Chase Sapphire 7K
Chase Amazon 1500
Chase Freedom 1200
FICO EQ 695 (Jun 15)
FICO EX 675 (May 15)
FICO TU 679 (July 15)
Message 17 of 23
Senior Contributor

Re: VantageScore claims usefulness

I wish!

 

Message 18 of 23
Highlighted
Regular Contributor

Re: VantageScore claims usefulness

Why so different? Do you have more accounts on your TU?

Message 19 of 23
Senior Contributor

Re: VantageScore claims usefulness


@jhtrico1850 wrote:

Why so different? Do you have more accounts on your TU?


For some reason my tax lien just vanished from TU. But, that's what CK is reporting. Might just be a glitch with them.

Message 20 of 23
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