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VantageScore claims usefulness

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Valued Contributor

Re: VantageScore claims usefulness


@CAPTOOL wrote:

@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.


that makes sense if the tax lien from public records vanished, +32 points sounds reasonable.

"I am become death, the destroyer of worlds"
Message 21 of 23
New Contributor

Re: VantageScore claims usefulness


@HiLine wrote:

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


Just wanted to say i quoted you with My Note 4. You dont need a computer!

Message 22 of 23
Valued Contributor

Re: VantageScore claims usefulness


@SquidBilly wrote:

@HiLine wrote:

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


Just wanted to say i quoted you with My Note 4. You dont need a computer!


VantageScore is used in the securitization market to track portfolio risk.

 

VantageScore is being evaluated by CC issuers to compare performance with FICO but FICO has the large bulk of the actual CC decisioning.

 

Their PR stresses those that "use" VantaageScore but few of the "uses" are actually credit decisioning.

 


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 23 of 23
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