Why is my Fico Scores 8 significantly lower than my vantage scores??

[DarkKnight_Credit]

Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

So here's my Vantage 3.0 Scores:

TU 719

EX 687

EQ 731

And my FICO 8 scores are

TU 687

EX 678

EQ 691

[SouthJamaica]

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@DarkKnight_Credit wrote:

Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

So here's my Vantage 3.0 Scores:

TU 719

EX 687

EQ 731

And my FICO 8 scores are

TU 687

EX 678

EQ 691

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They're completely different scoring models. 

[DarkKnight_Credit]

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@SouthJamaica wrote:

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They're completely different scoring models. 

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Yea, I just didn't expect it to be that big of a difference.

[sarge12]

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@DarkKnight_Credit wrote:

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@SouthJamaica wrote:

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They're completely different scoring models. 

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Yea, I just didn't expect it to be that big of a difference.

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Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

[DarkKnight_Credit]

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@sarge12 wrote:

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@DarkKnight_Credit wrote:

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@SouthJamaica wrote:

---

---

They're completely different scoring models. 

---

Yea, I just didn't expect it to be that big of a difference.

---

Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

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The only reason I thought a lot of credit lenders used vantage scores is because you can check your credit scores for free from your credit card profile, where their scores is based off on vantage 3.0 scores from what I saw. That would mean those same lenders who provides free credit vantage 3.0 scores most likely uses FICO scores for their credit decision, correct?

[sarge12]

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@DarkKnight_Credit wrote:

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@sarge12 wrote:

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@DarkKnight_Credit wrote:

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@SouthJamaica wrote:

---

---

They're completely different scoring models. 

---

Yea, I just didn't expect it to be that big of a difference.

---

Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

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The only reason I thought a lot of credit lenders used vantage scores is because you can check your credit scores for free from your credit card profile, where their scores is based off on vantage 3.0 scores from what I saw. That would mean those same lenders who provides free credit vantage 3.0 scores most likely uses FICO scores for their credit decision, correct?

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No, the credit cards that provide vantage scores for free, do so because they do not cost them anything to do so. Providing free fico scores come at a cost. Lenders are going to use the scores that the trust most as a predictor of defaults when making lending decisions. Vantage scores have not been around long enough to have the same level of trust by lenders to be as accurate in predicting defaults. Often, credit cards that provide fico credit scores at no charge were pulling fico scores every month anyway, just in case something has changed to warrant adverse action on the account.    EDIT::::Correction...I need reading comprehension skills, because the last sentence clearly says Fico, so the right answer is to say yes, correct! The same lenders who provide vantage scores do indeed use fico for lending decisions!

[Anonymous]

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@DarkKnight_Credit wrote:

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@sarge12 wrote:

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@DarkKnight_Credit wrote:

---

@SouthJamaica wrote:

---

---

They're completely different scoring models. 

---

Yea, I just didn't expect it to be that big of a difference.

---

Almost no lenders pull a vantage score, and 90% of lenders pull some version of fico score. Vantage is a legitimate score that almost no lenders use. I can not personally think of any lender that ever pulls a vantage score, although I think someone has said it is used by some rental industry. Not sure if they meant apartments or vehicles or furniture. I assumed apartments, but don't know. The vast majority of us consider the score so freely given on creditkarma and such sites to be worth about what you pay to get it. It can be useful to see a general trend your scores are headed, but that is about all.

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The only reason I thought a lot of credit lenders used vantage scores is because you can check your credit scores for free from your credit card profile, where their scores is based off on vantage 3.0 scores from what I saw. That would mean those same lenders who provides free credit vantage 3.0 scores most likely uses FICO scores for their credit decision, correct?

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Correct almost all lenders use some version of FICO when making lending decisions. The only commonly known exception to this is Synchrony Bank. The use VantageScore 4.0, which has a different calculation method than 3.0. The only way I know of to get your Vantage 4.0 score is to have a Synchrony account and they provide a free score using TU data. 

[Phana24]

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@DarkKnight_Credit wrote:

Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

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I went on a rebuild mission a couple of years ago, and observed the very same differential.  Vantage scores are great for trending, but as many have noted, the actual value is almost meaningless.  You can get free FICO 8s from all the CRAs, so that at least gives you up-to-date info on cc scores and they trend well with Auto scores.  I have no idea how mortgage scores vary, as I am not going to be in that market again.

[GatorGuy]

To answer your question about whether it is common for Fico to be lower than Vantange it just depends on the profile. 

My Vantange scores are always significantly lower because I just let balances report as is without regard to utilization impact. Vantange is alot more sensitive to that than Fico. Also, the free Vantange scores like Credit Karma don't count closed accounts in AAoA which also hurts my score since I have many old, closed accounts. 

But as already stated, the scores are meaningless and used for nothing. 

[DarkKnight_Credit]

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@Phana24 wrote:

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@DarkKnight_Credit wrote:

Hi everyone, every since I started posting information about my scores in my first post on these threads, I've taken that information from vantage 3.0 scores. I actually thought it was the most used and the most popular. I was rebuilding credit a couple of years ago. Currently, my vantage score 3.0 scores is very high compared to what it originally was. And wow, it felt so good. So when I went to a dealership to make a new order, I decided to let them run my credit to see where I'm at. I was super excited, because I have good credit for the very first time entering in a dealership. My credit's always been not so good at dealerships. Never had good credit before. So when they ran it, the scores were based off on FICO Auto 8 scores, which was siginificantly lower than my vantage scores. They did tell me my credit was still good, but that good feeling went away. So long story short, I decided to order FICO 8 scores from Experian. And they were the same like FICO Auto 8 scores. So why is it that my FICO 8 scores are way lower than Vantage 3.0? Has anyone else experienced this? I wonder whether this is common.

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I went on a rebuild mission a couple of years ago, and observed the very same differential.  Vantage scores are great for trending, but as many have noted, the actual value is almost meaningless.  You can get free FICO 8s from all the CRAs, so that at least gives you up-to-date info on cc scores and they trend well with Auto scores.  I have no idea how mortgage scores vary, as I am not going to be in that market again.

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Probably the closest score I have from a vantage score to FICO 8 would be my Experian credit score. There's about a few point differences, but that's it. I wonder whether it's possible that FICO 8 scoring would come close to my vantage score at some point. You can get free FICO 8 from Experian, but that's it from what I saw.

Another thing that threw me off was that I was recommended by my credit advisors to use identityiq, which uses vantage score 3.0 scoring model. They helped me a lot and my score has been raised significantly using them, but it seems now that they were wrong when they told me that website was the most accurate scoring model for other companies to use.