cancel
Showing results for 
Search instead for 
Did you mean: 

VantageScore claims usefulness

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Blogger

VantageScore claims usefulness

From https://blog.creditkarma.com/credit-karma/credit-karma-is-transitioning-to-the-vantagescore-3-0-scor...

 

"VantageScore Solutions reports that the majority of financial institutions, including eight of the top ten credit card issuers, six of the top ten auto lenders and all of five of the top mortgage lenders, use VantageScore to evaluate borrower creditworthiness."

 

Obviously these lenders use FICO scores as well. How do they use VantageScore scores and FICO scores differently? Cat Frustrated

Message 1 of 23
22 REPLIES 22
Frequent Contributor

Re: VantageScore claims usefulness

This is good news for me! My V3 scores are much higher than FICO.
Message 2 of 23
Senior Contributor

Re: VantageScore claims usefulness


@ramocita wrote:
This is good news for me! My V3 scores are much higher than FICO.

It would be good news if it were believable.

Message 3 of 23
Valued Contributor

Re: VantageScore claims usefulness


@CAPTOOL wrote:

@ramocita wrote:
This is good news for me! My V3 scores are much higher than FICO.

It would be good news if it were believable.


 

 

x2, nobody uses VantageScore except consumers LOL

"I am become death, the destroyer of worlds"
Message 4 of 23
Contributor

Re: VantageScore claims usefulness

Only customers are using Vantage Score.

 

My VantageScore3 is 70 points lower than my FICO.

Message 5 of 23
Valued Contributor

Re: VantageScore claims usefulness


@joshall wrote:

Only customers are using Vantage Score.

 

My VantageScore3 is 70 points lower than my FICO.


Mine is around 80, lol

"I am become death, the destroyer of worlds"
Message 6 of 23
Contributor

Re: VantageScore claims usefulness

That is a relief to many people (who don't subscribe to MyFico here).

 

 

Message 7 of 23
Frequent Contributor

Re: VantageScore claims usefulness

I have yet to read one of these articles that actually names the lenders that are using Vantagescore.

Message 8 of 23
Valued Contributor

Re: VantageScore claims usefulness

I wish lenders would use ONLY Vantage 3.0!  My Vantage 3.0 scores are 798-803 - waaaaay higher than my FICO scores!  Smiley Happy

 

It seems that the Vantage scoring model is rewarding me much more favorably for all the work over the past couple of years, or is more forgiving of the past issues - or likely a combination of both.  

 

 

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Oct 2019: EX8: 850; EQ8: 850; TU8: 850 -- Middle Mortgage Score: 824
In My Wallet: Discover $73.7K; Cap1 Venture $39.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $16.5K; Cap1 Plat $8.4K; Barclay $7K; BoA Plat $21.6K; Citi TY Pref $19K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $270K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 9 of 23
Moderator

Re: VantageScore claims usefulness

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

 

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

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 10 of 23
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.